Latvia
The Latvia Golden Visa is a five-year renewable residency which allows the investor, the investor’s spouse, children under the age of 18, the investor’s parents, and parents of the investor’s spouse to obtain an EU residency via a refundable investment of 100,000 EUR in a government eligible company. The Latvia Golden Visa allows visa-free travel throughout the EU, and may also lead to a Latvia Passport after 10 years of holding Latvian residency.
Government
Parliamentary Republic/ Representative Democracy
Population
1.87M (2024)
Official Language
Latvian
Climate
4 degrees C Winter I 19 degrees C Summer
Member of
European Union, Eurozone, NATO, OECD, International Monetary Fund, World Trade Organization
Time to Residency
1-2 weeks (if applying from within Latvia) or 3-4 weeks (if applying from outside of Latvia)
Latvia Residency by Investment Process
Latvia Golden Visa Requirements
Those who have invested may be granted a Latvian golden visa if they:
- Invest 100,000 EUR in a Latvian legal establishment
- The establishment must have 50+ number of employees the company is doing a legitimate business activity
- The company has a 10M EUR annual turnover
- The company has financial viability
- The company fulfills the requirement of 100,000 EUR per year for tax compliance clear source of funds
The Latvian Golden Visa can include:
- Investor
- Investor’s spouse
- Children under age of 18 parents of the investor
- Parents of the investor’s spouse
Those holding a Latvia Golden Visa are eligible for exclusive benefits, including: Visa-Free Travel throughout the EU and Schengen zone
- Path to a Latvian citizenship anda Latvian passport after 10 years of holding Latvian residency
- Renewable residency for unlimited time
- Ability to live and work in Latvia
- Ability to apply for a Blue Card for living and working throughout the EU Healthcare
- No minimum physical residency requirement to maintain or renew residency
- Free hotel stay 7 days a year in Latvia or the company’s other hotels anywhere in the world
Latvia Golden Visa Exclusive Benefits
Latvia Golden Visa Legal Framework
Article 23, Paragraph one, Clause 28(c) of the Latvia Immigration Law states that a foreigner (national of a non-EU member state) has the right to request a Latvia temporary residence permit in accordance with the procedures laid down in the Law for a period not exceeding 5 years if:
- A foreigner has invested in the share capital of the company, increasing it, or has invested in the share capital of the company, founding a new capital company, and, upon requesting the first temporary residency permit, and also the investment is at lease EUR 100,000;
- It has been invested in the share capital of the company, which together with one or more subsidiary companies registered in the Republic of Latvia, employ more than 50 employees; and
- The total annual turnover or annual balance of which exceeds EUR 10 million.
- The state duty for submission of the application paid into the state budget is EUR 10,000 per applicant.
This Latvia investment program provides a temporary residence permit for applicants is issued for up to 5 years with annual registration. After the 5-year term, a foreigner can renew the temporary residence permit and reapply. It is noted that this is a technical requirement for annual registration and renewal after the 5-year term passes. This is to control the application process and if no breaches of law are committed by the foreigner, there should not be any obstacles for obtaining the new permit.
About Step Global
Step Global is the leading immigration consultancy and advisory firm headquartered in Dubai, United Arab Emirates – a hub for effectively servicing clients from the GCC and MENA region, including India and Pakistan. We are comprised of a network of globally licensed lawyers, investment advisors, immigration specialists, and real estate experts who provide active guidance through the entire immigration process. Acting as a single point of contact between all parties involved, we ensure the most optimal chances for approval of your application for migration.
Our partner firms meet high standards to be part of our international network and are respected by peers in the legal and business communities. As a result, Step Global only offers investment immigration visa programs that are well-reputed globally and provide access to the top-ranked passports worldwide as per the Passport Index.
Step Global bridges the gap of future planning for its high-net-worth clientele by providing additional required services including Wealth and Tax planning and Executive Lifestyle Management Services. Step Global has taxation specialists who help clients fully prepare for their financial future. With over a decade of experience in estate planning and investment consultation, and international taxation guidance, our experts can guide HNWIs on how to best appreciate and protect their capital.
This branch of the business is titled Step Wealth, and we’re proud to boast a solid track record of clients making significant capital gains through investment, taxation consultation, and estate planning.
Why Choose Us for Your Immigration Journey:
Latvia Golden Visa Pricing
Remaining complete investment
EUR 100,00
One-Time State Budget Payment
EUR 10,000
Initial Application
EUR 700
Visa Application
EUR 90
Biometric Appointment
EUR 155
Annual Renewal over 4 years
EUR 1520
Adult Dependent Fees
EUR 920
Minor Dependent Fees
EUR 560
Bank Account Fees
EUR 1700
Share Increase in Company
EUR 175
Documentation and Consulting Fee
EUR 20,000
Grand Total
EUR 134,340
FAQs
The Latvia Residency by Investment, often referred to as the Latvia Golden Visa, is designed to give non-EU investors a residence permit in return for a qualifying financial investment in Latvia. This allows for residence in an EU and Schengen state, unlocking access to local opportunities as well as mobility throughout Europe.
The initial investment amount changes as per the method selected. Generally, one of the following is required:
- An investment of €250,000 or more in Latvian real estate, as well as state fees, or
- A €280,000 investment in a company’s share capital, together with a contribution to the state funds, or
- Investment in Latvian government bonds or in banks under certain conditions.
Permission to reside in Latvia and journey without restrictions through the Schengen Area.
- The opportunity to receive medical treatment, pursue education, and conduct business in the EU.
- Lower capital investment required in comparison to the rest of the European residence-by-investment programs provides an added advantage.
- The possibility to add relatives to the application.
- Possible eligibility for permanent residency or citizenship after uninterrupted residence.
It takes approximately 2 to 3 months to process, after the applicant uploads the required document and finishes the investment. The due diligence and government scrutiny might affect the timeline.
Here’s what you’ll probably need to submit:
- A valid passport and other photo IDs
- Documents to show your qualifying investment, which might be property, shares, or bonds
- Bank statements along with a report on your source of funds
- Police clearance certificate.
- Health insurance covering Latvia.
- Completed government application forms.
Other Programs We Offer
We provide a wide range of Citizenship by Investment programs: Malta Citizenship by Investment, St. Lucia Citizenship by Investment, St. Kitts and Nevis Citizenship by Investment.
We provide a wide range of Residency by Investment programs: Canada Residency by Investment, Greece Residency by Investment, Hungary Residency by Investment, Portugal Residency by Investment, UAE Residency by Investment, US Residency by Investment.
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The Step Global immigration lawyers are available to answer your questions. Contact us today to arrange a consultation.
