Residency in Latvia: Your Comprehensive Handbook to Securing a Latvia Residence Permit By Investment

Residency in Latvia stands out as one of the most appealing European routes for those eager to unlock a new future of life and investment within the European Union.

Thanks to its strategic position between Western and Eastern Europe, Latvia offers an attractive combination: economic stability, modern infrastructure, and significantly lower living costs compared to many other EU nations. This makes it a primary destination for investors seeking promising opportunities for permanent residency in Latvia or, down the line, a Latvian passport.

Through the Latvia Golden Visa and its Latvia investment visa programs, investors have multiple clear pathways to obtaining a Latvia residence by investment. However, the specific requirements and procedures are unique to each case. This is why securing a specialized advisory service is a vital step to streamline the entire process and guarantee full commitment to local laws.

This is where Karibi Consultants excels. We bring extensive experience in empowering investors and entrepreneurs to secure Latvia residency by investment. We don’t rely on one-size-fits-all solutions; instead, we design legal and investment strategies tailored precisely for each investor. Our support is comprehensive: from assessing your eligibility to securing your Latvia visa and managing your entire physical relocation.

Latvia: An Overview as a Residency Destination

EU and Schengen Zone Membership: Latvia joined the European Union in 2004, the Schengen Area in 2007, and the Eurozone in 2014. A Latvia residence permit grants the investor and their family the right to travel visa-free across 29 European countries without internal border restrictions. This represents a significant advantage in terms of mobility.

An Ideal Investment Environment: Latvia was ranked among the top 20 countries globally in the World Bank Group’s 2020 “Ease of Doing Business” Index, a testament to its streamlined government procedures and digital transformation. Growth is primarily driven by transit (transport and logistics), wood processing, and Technology (ICT) sectors. Notably, Latvia is a global leader in internet speed and Digitalization, offering a world-class digital infrastructure.

High Standard of Living and Security: Latvia secured the 31st rank globally in the 2023 Legatum Prosperity Index, earning high scores for its natural environment and personal freedom. Furthermore, international reports consistently classify Latvia as “low risk” for general security concerns, ensuring a safe and secure environment for both living and investing.

Advanced Digital Society: Latvia is a pioneer in 4G and 5G networks and ranks 9th in Europe for the E-Government Benchmark. The capital, Riga, is recognized among the best mid-sized European cities for human capital and lifestyle. It also boasts a quality education system, ranked within the top 27 globally.

All these factors make investing in Latvia one of the most efficient and fast-track ways to relocate to the EU, paving your path towards securing permanent residency in Latvia and, eventually, a Latvian passport.

How To Obtain Residency in Latvia

• Latvia Residency by Investment (Latvia Golden Visa)

The Latvia Golden Visa program is among Europe’s most attractive in terms of cost and available options. It’s designed specifically to draw foreign capital that contributes directly to economic growth.

Investment Options and Required Amounts:

1. Business Investment

Starts from €50,000 (plus a €10,000 government fee) in the share capital of a small Latvian company (fewer than 50 employees, minimum annual turnover of €10,000), provided the company pays a minimum annual tax of €40,000.

Alternatively, you can invest at least €100,000 in a Latvian company with more than 50 employees and an annual turnover of over €10,000.

2. Real Estate

A minimum of €250,000 to purchase one or more properties, plus an additional government fee equivalent to 5% of the property’s value. The investment must be maintained for at least five years.

3. Government Bonds

At least €250,000 in special, non-interest-bearing government bonds for a 5-year term, plus a €38,000 government fee.

4. Bank Deposit

A subordinated deposit of no less than €280,000 in a Latvian credit institution for a minimum of 5 years, plus a €25,000 government fee.

• Residency for Work or Study Purposes

These pathways are common for non-investors, but they require meeting specific conditions distinct from the Latvia investment visa:

Residency for Employment:

Obtaining a work permit requires securing a job and gaining approval from the Office of Citizenship and Migration Affairs (OCMA). The employee must meet the minimum salary requirements or professional qualifications for the position.

Residency for Study:

This permit is granted to students enrolled in a recognized higher education institution or university in Latvia. The student must first receive a formal invitation from the university to submit their residence permit application. Students are also allowed to apply for an additional residence permit for up to nine months after graduation to seek employment or start a business.

• Family Reunification Residency

Holders of a temporary or permanent residency in Latvia (including investors) can invite their close family members, such as a spouse and minor (or dependent) children, to join them. The application is submitted through the OCMA, requiring proof of the family relationship and confirmation of sufficient means of support for the family in Latvia.

Steps to Obtain Latvian Residency

• Select Your Residency Stream: First, determine the most suitable type of residency for you, whether it’s an investment residency (such as the Latvia Golden Visa), study, work, or family reunification.
• Prepare Required Documents: Gather all necessary paperwork. This typically includes a valid passport, health insurance, proof of sufficient income/funds, and a clean criminal record certificate (police clearance).
• Submit the Application: File your application either directly with the Latvian Office of Citizenship and Migration Affairs (OCMA) or through the Latvian Embassy in your country of residence.
• Pay Official Fees: Pay the mandatory government processing fees. These charges vary depending on the specific type of residency you are applying for.
• Await Approval: Wait for the decision from the relevant Latvian authorities.
• Receive Your Residence Card: Upon approval, you will receive your residence card. This will be a permanent residency card in certain investment cases, or a temporary residence permit (valid for one to five years and renewable) for streams like study or work.

Latvia Residency Eligibility Criteria

Legal and Personal Requirements:

• Nationality: The applicant must hold a nationality from outside the European Union (EU), the European Economic Area (EEA), or Switzerland.
• Age: The principal applicant must be a minimum of 18 years old.
• Clean Record: Submission of a clean criminal record certificate from the home country and any country where the applicant has resided for more than six months over the past five years.
• Tax Compliance: The applicant must certify that there are no outstanding global tax liabilities or obligations.

Financial and Investment Requirements:

• Investment Commitment: The applicant must demonstrate a commitment to executing one of the approved Latvia residency by investment options at the minimum required amount and maintain that investment for at least five years.
• Source of Funds: Proof must be provided that the source of the investment funds is legal and verifiable.
• Financial Self-Sufficiency: The principal applicant must show they possess sufficient financial resources to support themselves and their family in Latvia without relying on social assistance.

Health Requirements:

• Health Insurance: Provide proof of comprehensive health insurance coverage valid for the applicant and all dependents for a minimum of one year.
• Good Health Status: The applicant must be in good health and be prepared to submit a medical certificate upon request.

From Residency to Citizenship

Duration of Residence: After obtaining permanent residency in Latvia and legally residing in the country for a total of 10 years, the investor becomes eligible to apply for Latvian Citizenship (Latvian Passport).

Language Proficiency: Demonstrate proficiency in the Latvian language at a minimum level of A2 to ensure effective daily interaction with citizens and understanding of the local culture.

Civic Knowledge: Pass an examination covering the country’s history and constitutional system, proving the applicant’s knowledge of national values.

Security Clearance: Possess a clean criminal record and have no involvement in any issues posing a threat to national security.

Financial Stability: Provide evidence of a stable and legal source of income capable of supporting the applicant and their family without reliance on government assistance.

Note on Dual Citizenship:

Latvia generally does not recognize dual citizenship. Applicants must typically renounce their previous nationality. However, exceptions are made for citizens of certain countries: NATO member states, EU member states, European Free Trade Association (EFTA) member states, as well as Australia, New Zealand, and Brazil.

Key Benefits of Latvia Residency

• Schengen Access: Your Latvia residence permit grants you and your family visa-free travel across all Schengen member states. This unlocks freedom of movement for business and tourism throughout Europe.
• Easy Family Inclusion: The program allows the investor to seamlessly include their spouse and all minor children (under 18) on the same residency application.
• Affordable Living: Latvia boasts a cost of living significantly below the EU average. Prices are estimated to be approximately 20% lower than the EU average, offering a high quality of life at very moderate costs.
• Pathway to Citizenship: Residency in Latvia provides a clear and established route to acquiring Latvian Citizenship after a total residency period of ten years, provided all other naturalization requirements are met.
• Powerful Latvian Passport: The Latvian passport is ranked among the top 5 strongest globally for 2025, providing its holder with access to approximately 172 destinations worldwide.
• Living and Working Rights: Residents gain full permission to live, work, and study in Latvia with complete flexibility for employment across all sectors. They also benefit from access to Latvia’s national healthcare system and high-quality education.
• Advanced Infrastructure and Investment Environment: Latvia boasts safe cities, modern infrastructure, a growing economy, and stunning natural landscapes. It also offers residents an attractive tax environment, featuring competitive corporate and personal income taxes, further enhancing its investment appeal.

Potential Challenges of Latvia Golden Visa

• Residency Requirement: Applying for permanent residency in Latvia after five years requires proof of actual, continuous residence. The path to citizenship further requires passing rigorous language and civic tests.
• Investment Maintenance Risk: The investment must be strictly maintained for five years. For instance, failure to pay the minimum €40,000 annual tax on a business investment, or accumulating tax debts over €150, can lead to the immediate cancellation of the residence permit.
• Procedural Scrutiny: Rejections often stem from the inability to verify the source of funds or incomplete documentation. Annual renewal also requires continuous vigilance regarding health insurance and tax compliance.

How Karibi Consultants Helps You Overcome These Challenges and Secure Latvia Residency

This is where Karibi Consultants steps in. We provide comprehensive solutions to navigate these challenges and ensure a safe, legal transition to Latvia.

At Karibi Consultants, we leverage our deep expertise in European residency by investment programs to guide clients in selecting the most suitable path. Whether it’s real estate, business, bank deposits, or government bonds.

We handle the full legal preparation, including the translation and notarization of all documents, and manage direct coordination with Latvian official authorities to expedite the approval process and ensure your compliance with all requirements.

Start Your Journey to a Premier European Residency Today

Latvia residency by investment remains one of the most effective paths for entering the European market and leveraging the country’s benefits for foreign investors. Including Schengen mobility, a stable economic environment, and ease of doing business.

However, choosing the right investment program demands precise knowledge of local laws and experience in dealing with official bodies to guarantee the application is accepted without delay.

To ensure your success, book a free consultation with our experts at Karibi Consultants. We will walk you through every step of obtaining your Latvia residence permit. From selecting the ideal investment to receiving your legal residency card.

Start now with Karibi Consultants and make your investment your gateway to Europe.

FAQs

Can I get Latvia residency by investment?

Yes. Latvia offers a dedicated Residency by Investment program (the Latvia Golden Visa). It provides four main pathways:

• Real estate investment
• Business investment
• Government bonds
• Bank deposits

What is the minimum investment amount for Latvia residency?

The minimum amount varies depending on the investment type. For example, the minimum starts from €50,000 for business investment, and €250,000 for investing in real estate or government bonds.

Does Latvia grant citizenship after a period of residency?

Yes. You can apply for Latvian Citizenship after a total of 10 years of legal residence in the country, provided you meet all required naturalization criteria (such as language and civics tests).

What is the difference between Temporary and Permanent Residency in Latvia?

Temporary Residency (the initial residence permit) is granted for a limited period, typically one to five years, and requires renewal. Permanent Residency grants the right to reside indefinitely after meeting the legal criteria and is often the step before applying for citizenship.

Can I include my family members in the residency application?

Yes. The program allows the main investor to include their spouse and children (under 18) on the same application. In some cases, financially dependent adult children and parents may also be included.