Latvian golden visa

The Latvian Golden Visa offers a strategic and cost-effective pathway for non-EU investors to obtain residency in Latvia, granting access to the European Union and the Schengen Area. Established in 2010, this program is known for its affordability, swift processing, and minimal residency requirements, making it an attractive choice for global investors.

What is the Latvian Golden Visa?

The Latvian Golden Visa, officially called the Latvia Residence by Investment Program, enables non-EU, non-EEA, and non-Swiss nationals to acquire a five-year renewable residence permit through a qualifying investment in Latvia. This permit allows visa-free travel within the Schengen Zone and may lead to permanent residency and citizenship over time.

Investment Options

1. Business Investment

• Minimum Investment: €50,000 into a Latvian company.
• Requirements:
  • The company must have fewer than 50 employees.
  • Annual turnover or balance sheet must not exceed €10 million.
  • The company must pay at least €40,000 in taxes annually.
• Additional Fees: One-time state fee of €10,000.

2. Real Estate Investment

• Minimum Investment: €250,000 in Latvian real estate.
• Additional Fees: 5% state fee on the property value.

3. Government Bonds

• Minimum Investment: €250,000 in special-purpose government bonds.
• Additional Fees: €38,000 state fee.

4. Bank Deposit

• Minimum Deposit: €280,000 in a Latvian bank for five years.
• Additional Fees: €25,000 state fee.

Key Benefits

• Schengen Access: Visa-free travel across 27 European countries.
• Fast Processing: Residency permits issued within 30–90 days.
• Family Inclusion: Spouse and dependent children can be included.
• Minimal Residency Requirement: Only one visit per year is required.
• Pathway to Citizenship: Eligible for permanent residency after five years, and citizenship after ten years under specific conditions.

Application Process

1. Choose Investment Option: Select your preferred investment route.
2. Prepare Documentation: Includes passport, proof of funds, investment documents, health insurance, and a clean criminal record.
3. Submit Application: Apply through Latvian immigration authorities or a consulate.
4. Biometric Appointment: Attend an appointment to provide fingerprints and a photo.
5. Receive Residence Permit: On approval, collect your residence permit card.

Path to Permanent Residency and Citizenship

• Permanent Residency: Available after five years of continuous residence, meeting minimum stay requirements.
• Citizenship: Available after ten years. Applicants must demonstrate Latvian language proficiency, knowledge of the constitution, and renounce previous citizenship in most cases.

Conclusion

The Latvian Golden Visa remains one of the most accessible and affordable residency-by-investment programs in the European Union. Whether you're looking to expand business operations, secure a better future for your family, or gain access to the Schengen Zone, Latvia offers a stable, transparent, and attractive route to EU residency.

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