Latvia Investment Visa – Get Legal Help from Our Lawyers

Citizenship by Investment in Latvia

Updated on Thursday 14th September 2023

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Latvia Investment Visa
Foreigners interested in citizenship by investment should know that there is no specific option to gain this status. However, it is permitted to obtain residency by investment in Latvia and then citizenship through traditional ways, such as naturalization. Below is information about how to get the desired citizenship and the formalities to be respected. One of our Latvian lawyers can provide legal assistance to citizens interested in this topic.
 Quick Facts  
Nationalities accepted (EU/Non-EU)  Both 

Business investment option (Yes/No) 

Latvia does not have a direct citizenship by investment program, but the investor visa scheme (golden visa).

It offers a path to citizenship after living 10 years in Latvia. 

Real estate investment option (Yes/No) 


Other investment options (if available) 

 - digital innovations,

- manufacturing,

- scientific research 

 Living requirement in Latvia (Yes/No)

Yes, it is 10 years. 

Residence or direct citizenship option 


Direct immigration with family members (Yes/No) 


Family members allowed to join the program 


Residence visa/ citizenship processing time (approx.) 

4 months 

Additional financial requirements for family members (Yes/No)   No
Time frame for obtaining citizenship/ residency by investment 

30 – 90 days 

Dual citizenship permitted (Yes/No) 


Reasons to choose Latvia 

 - stable economy,

-  attractive investment incentives,

- close proximity with some of the world's largest consumer markets

Personal income tax rate 


Visa free travel to other countries (approx. number of countries)  184 
Our immigration lawyers in Latvia can help you with your plan regarding Latvian investment citizenship. Furthermore, you can also get in touch with our lawyers if you are interested in acquiring Latvian immigration by investment.

Requirements for Latvian golden visa 

The eligible applicant for Latvian golden visa must be of 18 years or above, while the dependents (minor child, spouse, parents, and financially dependent children) can apply for a Latvia residence permit together with the applicant. Once the application is approved at the Office of Citizenship and Migration Affairs of the Republic of Latvia, the investor needs to visit Latvia within three months to collect his/her temporary residence permit provided in the form of an ID card.
You can trust the services of our Latvian lawyers if you are a foreign investor and you are planning for immigration to Latvia and investment citizenship.
Here is an infographic on getting citizenship by investment in Latvia:
Facts about Latvian citizenship

The path to Latvian citizenship

In Latvia, the citizenship can be acquired through naturalization, as the investment program has been suspended recently. On the other hand, the Latvian government offers different investment plans to foreign investors interested in residency:
  • If a foreign investor is planning to obtain Latvian residency by investment, he/she should keep in mind that he is not allowed to buy agricultural land, forests, or wood and cannot pay in cash. However, he/she is permitted to buy one or two properties depending on the location and must invest a minimum of  EUR 250,000. 
  • An investment of EUR 50,000 in such a Latvian company's equity capital pays at least EUR 40,000 tax annually. The investor must pay EUR 10,000 to the state budget, and he/she will get the instant five years residency. The residency period can be extended after five years. A biometric ID card is also issued, and it is renewable after every year;
  • The purchase of interest-free state securities for particular purposes at a nominal value of  EUR 250,000 for Latvian citizenship. The foreign investor needs to pay around  EUR 38,000 to the state budget. By making this investment, a person acquires a residence of five years which is extendable, and also a biometric ID card for five years.
These programs are primarily flexible and do not require any minimum number of days of physical presence in Latvia to renew the residence permit. 
You can rely on our Latvian attorneys for any guidance related to investment methods in Latvia. Furthermore, our lawyers can also guide you about the VAT (value-added tax) requirements in Latvia.

When can you apply for Latvian citizenship

A person can apply for a temporary Latvian residence permit usually valid for five years in the initial stages. After five years from receiving a residence permit, a person may apply for a permanent residence permit in Latvia. To qualify for this permit, a person must have lived in Latvia for 4 out of 5 years.
In addition to this, the applicant must need to pass the Latvian language test at level A2. Furthermore, he/she should know the Latvian history and national anthem of the state. Latvia allows dual nationality in some cases, while usually, a person has to renounce the previous nationality. After 10 years of legally living in Latvia, a person can apply for Latvian citizenship. Our lawyers are at your service if you want to relocate to Latvia.

Things to know about the Latvian golden visa

Suppose you have decided to apply for Latvian Golden Visa or are still in the middle of the procedure for immigration to Latvia. In that case, you will still be able to enjoy the many benefits the Latvian investment visa residency provides, which could result in citizenship:
  • Travel all over Schengen Zone: Latvian residency grants you access to the whole Schengen area, visa-free. It means that you will be able to travel anyplace in the Schengen travel zone of Europe. There are no border controls required.
  • Five years of residency: Certain countries will only allow residence for two years, only to need to extend the validity of your living. So even though you will be required to renew your visa in Latvia, you do not need to worry about having your residency denied for five consecutive years.
  • Bring your entire family: You can include any dependent child, spouse, and your parents and grandparents (if they are financially dependent upon you) in one application.
  • Speedy Processing: With a processing time between one and three months for applications for residency, Latvia offers one of the fastest routes to Europe's Schengen zone right now. Accelerate the process by collecting all of the required documents before.
  • There is no physical residency requirement: You can come and go as you like, and you do not need to reside in Latvia. However, it would help to visit Latvia every year to keep your residency permit.
  • Latvia is well connected: It is only 90 minutes from Moscow via air, and with so many connections to flights to all the European hubs, Latvia has excellent links to other nations.
  • A favorable tax environment: Latvia has an average corporate tax of 9% and a government extremely open to foreign Latvia investment visas and new business ventures.
  • A part of the Eurozone: The single currency zone can be advantageous for a variety of reasons. However, the most important reason is that it helps you save time and money. There are no foreign exchange charges and no need to hunt for the most competitive exchange rates and so on.
  • Quality of living: You will be able to live a quality life in Latvia, a specific country, affordable Latvia investment visa, and European.
If you need more information in this regard, you can get in touch with our immigration lawyers in Latvia. They will provide you with comprehensive guidance about Latvia investment visa. Besides visa, they will also provide you with detailed knowledge about Latvia immigration by investment.

Does Latvia offer citizenship by real estate investments in 2023?

Five years after launching the investment visa program, Latvia received EUR 1.1 billion which came from foreign investors purchasing real estate. But now if you are interested in buying real estate for obtaining a Latvia investment visa, you should know that, since January 2022, the real estate option has been suspended. 
Latvian citizenship through naturalization offers various benefits, apart from restoring your ancestors' citizenship. This country has been a member of the EU for more than 15 years. It means that if you have Latvian dual citizenship, you will be able to live in all 28 EU and EFTA countries. In addition to this, you can work freely in all EU member states, not just Latvia. If you are interested to learn more about citizenship, the services of our Latvian lawyers are at your disposal. 

Getting Latvian residence through varied ways

Even if Residence by Investment Program in Latvia has been suspended, there are other ways to obtain residence in Latvia and then citizenship:
  • Making deposits in Latvian banks,
  • Buying interest-free government bonds for special purposes,
  • Investing in an existing company in Latvia.
As for the advantages that come with investments to receive residence in Latvia, we remind you:
  • The process is fast, and candidates receive the desired status in a short time.
  • Free access to the countries that are part of the Schengen Area is offered.
  • After 10 years of residence in Latvia, you can apply for citizenship.
  • There are many speakers of English, but also of Russian, which is an advantage for foreigners who want to do business in this country.
It is important to specify that, if you want to make investments in Latvia in order to gain residence, you must prove the source of the respective incomes. We invite you to talk to our immigration lawyers in Latvia to find out all the information about the programs dedicated to obtaining residency and Latvian citizenship.

Reasons to choose Latvia for relocation

There are many reasons why Latvia is on the list of those who want to relocate to an economically stable country and not only that. While others prefer to move to Latvia for work, some citizens want to study here at some of the most prestigious colleges in the world. Also, there are many foreign citizens who want to retire to Latvia and enjoy the advantages offered in this country, including a quiet life and affordable costs. Here are other interesting aspects:
  • A retirement visa is necessary for those who want to move to this country, for at least 5 years. Proof of pension is required to be able to apply for a retirement visa.
  • A student visa is required for foreigners who want to study in Latvia. This type of visa is valid for 6 months or one year. A temporary residence permit will be issued in the first phase.
  • A family visa is necessary for those who want to reunite with family members in Latvia. And in their case, a temporary residence permit will be issued.
  • Another advantage of relocating to Latvia is the fact that after 5 years of a temporary residence permit, a permanent one can be issued. And after 10 years of living in Latvia, you can apply for citizenship.
  • What is important to specify for those who want to apply for citizenship is the fact that Latvia allows dual citizenship, only if they prove they have or had relatives in this country. Thus, there is no need to give up the current citizenship to receive the new one, if they bring the information required by the authorities.
  • Compared to other countries, Latvia is cheaper when it comes to the cost of living. For instance, a one-bedroom apartment in Riga might cost around EUR 350 as a rental price per month.
  • There are many expat communities in Riga and other cities too, so integration is quite easy, depending on the country of origin.
  • If you manage to learn the basic elements of the Latvian language, you will be able to integrate better into the community, and, in addition, it would be an advantage at work.

What you need to know before investing in Latvia

Latvia has a mix of people from different countries, especially Russian people. So, it is not a very tough job to get fused with the Latvian culture. Here are some facts about Latvia:
  • The Latvian constitution prohibits discrimination and guarantees the fundamental rights of the people;
  • 60% of subjects in the educational institutions are taught in Latvian or bilingually. This country also offers a unique education system in almost seven languages;
  • According to Sense of Belonging to Latvia, more than 94% of national minorities can communicate in the Latvia language. 
  • While Latvian is the official language of Latvia, English is widely spoken, especially in business circles. However, it's always a good idea to have a basic understanding of the local language to facilitate communication with local businesses and government officials;
  • Latvia ranks among the top 15 countries in terms of gender equality.
There are many ways in which you can carry out your immigration to Latvia and one is an investment plan. It is a dire need to get help from our Latvian immigration lawyers in investment matters. Our lawyers can explain to you in detail the investment regulations of the country. In this way you with getting credible information about the investment amount as well as where to invest the money. 
You can contact our Law firm in Latvia for any details related to Latvian investment citizenship in 2023. If you are interested in opening a firm in Latvia, our experienced lawyers will guide you to all the necessary steps that are required to establish a firm in this country.