RBI – Residence by investment scheme in Latvia
The Latvia Residence-by-Investment (RBI) Program is one of the most affordable and fastest options in Europe. The program was launched in July 2010 by the Latvian Government.
Foreign nationals may apply for the residence permit in Latvia through the purchase of real estate; by making a financial investment in a Latvian credit institution (subordinated loan or subordinated bank bonds); investing in the equity capital of an enterprise; or purchasing interest-free government bonds.
- Visa-free access to the entire Schengen Area
- No minimum stay is required to be eligible for the residence permit renewal
- Fast-track application procedure
- Excellent transport links with Russia and the EU member states
Residence by Investment in Latvia
There are several qualifying options to obtain a residence permit through the Latvia Residence-by-Investment Program:
- Purchase of real estate of EUR 250,000, plus a one-time payment of 5% of the purchase price to the state budget; or
- Investment of EUR 280,000 in the subordinated capital of a Latvian bank for a period of five years, plus a one-time payment of EUR 25,000 to the state budget; or
- Investment of between EUR 50,000 and EUR 100,000 in the equity capital of a Latvian company (investment amount depends on the size of an enterprise); or
- Purchase of special purpose interest-free bonds at a nominal value of EUR 250,000, plus a one-time payment of EUR 25,000 to the state budget
The processing of an application takes approximately 30–90 days. Immediate family members may apply for the residence permit together with the main applicant. The residence permit is issued for five years with the requirement for annual renewal. There is no minimum stay requirement in Latvia in order to renew the residence permit.
After five years, the holder of a temporary residence permit may apply for permanent residence. To qualify for a permanent residence permit, the candidate must physically reside in Latvia for four out of the last five years and successfully pass the state language proficiency examination.
Citizenship can be obtained after 10 years of legal residence in Latvia if the applicant has been a permanent resident for the last five years preceding the date of submission of the application. To qualify for citizenship, the applicant must physically reside in Latvia for at least four out of the last five years.
Latvia does not allow dual citizenship.
Latvian passport ranked 11th powerful passport in the World with visa free access to 179 countries.