In 2010, Latvia introduced their Golden Visa program in a bid to increase foreign investment into the country. The program offers a number of options for investors including a Real Estate and Government Bonds.
There is also an option to invest into a Latvian company with a minimum investment of just 50,000 EUR. This is the most-cost effective route to residency of all of Europe’s Golden Visa programs that provides visa-free access to the Schengen Area.
Investors obtain a 5-year temporary residency permit in Latvia which can be renewed every 5 years. Those that learn the language and spend 80% of their time each year in Latvia are eligible to apply for PR after 5 years and Latvian Citizenship after 5 years as a permanent resident.
One of the 3 Baltic States, located on the Baltic Sea between Lithuania and Estonia, Latvia is a progressive, business friendly European and Schengen Nation.
Foreign investors can qualify for the Latvia Golden Visa with an investment of 250,000 EUR into Latvian Real Estate (along with payment of 5% of the real estate value into the state budget).
Applicants can be eligible to apply for the Latvian Golden Visa by investing a minimum of 50,000 EUR into a Latvian commercial company. Investors must select a Latvian company that pays €40,000+ in taxes each year and in order to qualify applicants must also pay a state fee of 10,000 EUR.
Under the Latvia Golden Visa program applicants can to choose to purchase a minimum of 250,000 EUR into state securities. Applicants who choose this option must also contribute 38,000 EUR in government fees to the state budget. Note that it is particularly difficult for foreigners to open a bank account in Latvia which makes this option more complicated.
One of the 3 Baltic States, located on the Baltic Sea between Lithuania and Estonia, Latvia is a progressive, business friendly European Nation and member of the Schengen Area.
Best known for its vibrant capital Riga with its elegant Art Nouvea Architecture, Latvia is home to one of Europe’s most charming Medieval Old Town. Just a few hours away you can experience long stretches and of beaches and sprawling forests.
Latvia has a great start up scene and is doing a great job of attracting international talent and entrepreneurs.
Latvia is a member of the European Union, NATO and Schengen Area and participates in the World Trade Organisation enjoying benefits of free open trade in global markets.