Latvia dual citizenship

Over 4300 Golden visas issued to foreign investors in Latvia

Latvia has the cheapest golden visa schemes in Europe with investments starting from 50,000 euros, which is five times cheaper than greece and portugal.  Latvia also offers permanent residence permits for investments in business, bonds/securities and real estate

 

The Golden visa residence scheme in Latvia was introduced by amending the Immigration Law in 2010. This step was taken as a reaction to the financial crisis that hit Latvia in 2008. The main idea behind this scheme was to attract foreign investors in order to facilitate Latvia’s economic recovery and growth by activating the real estate market and creating new jobs.

 

Main conditions (main investment and other charges) under the Latvian investors’ residence scheme

Type of investment Minimum investment

Residence permit

  1. Real estate

At least EUR 250,000

+ 5% payment to the State budget

Up to 5 years

  1. Business

At least EUR 50,000 or EUR 100,000 investment into capital companies depending on the company’s size (i.e. turnover and the number of persons employed)

+ EUR 10 000 payment to the State budget

Up to 5 years

  1. Subordinate liabilities of credit institutions

At least EUR 280,000

+ EUR 25,000 payment to the State budget

Up to 5 years

  1. State securities

At least EUR 250,000

+ EUR 38,000 payment to the State budget

Up to 5 years

  1. Innovations

At least EUR 30,000 within the first 6 months

At least EUR 60,000 within 18 months

Up to 3 years

Renewal of a residence permit for investors in points a, b and c – EUR 5000

 

Latvia has issued a total of 9,400 permanent residence permits (investor + family) for golden visa investment from 2010 to 2018, according to the data released by PMLV migration office

 

Latvia golden visa
Source: Migration office – TUV holders for investment in Latvia as of Dec 31, 2018

 

Investors Family
Bonds/Securities 39 59
Business 179 315
Real estate 3938 4553
Bank deposit 157 181
Total 4313 5108

Source: OMV