Golden Visa

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
Real estate	At least EUR 250,000 + 5% payment to the State budget	Up to 5 years
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
Subordinate liabilities of credit institutions	At least EUR 280,000 + EUR 25,000 payment to the State budget	Up to 5 years
State securities	At least EUR 250,000 + EUR 38,000 payment to the State budget	Up to 5 years
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

 

 

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

Source: OMV