Latvia

TIME TO CITIZENSHIP

2 Months

SCHENGEN AREA COUNTRY

Yes

Family

Applicant, Spouse, Children under 18 and Parents

RESIDENCY REQUIREMENTS

None

ABOUT LATVIA

Unlock the doors to European residency through Latvia's Golden Visa program, where the historic allure of Riga, a UNESCO World Heritage Site established in 1201, awaits. Positioned strategically within the Schengen Area, Latvia becomes a gateway connecting Western Europe and Russia. This unique geographical advantage is complemented by the affordability of the Golden Visa program, requiring a minimal investment of just EUR 50,000! Immerse yourself in the cultural richness of this country and seize the opportunity to make Latvia your gateway to European living.

THE LATVIAN RESIDENCY BY INVESTMENT PROGRAM

Introduced in 2010, Latvia's dynamic Investment Residency Program efficiently addressed economic challenges from 2007–2009. Five years post-launch, it successfully infused over EUR 1.3 billion, catalyzing transformative growth in Latvia's economy.

Latvia's Golden Visa program grants investors visa-free Schengen access, the option to open a European bank account, flexible residency choices in Latvia or any EU country for up to 90 days – offering unparalleled freedom and opportunities.

After five years, applicants can secure a permanent residence permit by meeting criteria such as residing in Latvia for four out of the last five years, passing a Level A2 Latvian language test, and demonstrating knowledge of Latvia's history and anthem. Citizenship becomes a possibility after 10 years of legal residence, with the condition of renouncing former citizenship, though exceptions may apply.

To be eligible for the Latvian Golden Visa program, applicants must meet the following criteria:

Invest a minimum of EUR 50,000 into the equity capital of a Latvian company that annually contributes at least EUR 40,000 in taxes, accompanied by a one-time government fee of EUR 10,000.

Provide documentation demonstrating the legality of your income, such as an employment contract, author's contract, or securities.

Verify adequate funds to maintain living standards equal to or above the subsistence level, set at €500 per month when opting for financial investments, or business investments. For each adult family member included in the application, the main investor must confirm an income of €500 per month, while each minor family member must confirm an income of €150 per month.

Present documents validating the fulfillment of investment conditions outlined in the application.

Provide certificates of a clean criminal record for the past 10 years from each country of residence where the applicant lived for more than 12 months.