Country Profile:

Latvia, a nation in northeastern Europe, graces the eastern shores of the Baltic Sea. It’s part of the trio known as the Baltic States, alongside Estonia and Lithuania. Historically, Latvia has experienced significant influence from both Russia and Germany.

Capital: Riga

Population: 1,842,226 (146th)

Ethic Group: 63.0% Latvians, 24.2% Russians, 3.1% Belarusians, 2.2% Ukrainians

Area: 64,589 km²  (122nd)

Offical Language: Latvian

Currency: Euro

GDP per Captial:  $40,891 (48th)

How To Immigrate To Latvia:

Since 2010, Latvia has maintained a steady residency by investment program, drawing a considerable number of immigrants from Russia. A standout feature of this program is its affordability. Theoretically, with an investment of 50,000 euros and an additional 10,000 euros in government fees, one can secure a Latvian residence visa, making it one of the most cost-effective routes to permanent EU residency.

Additionally, Latvia extends two other potential immigration routes to foreigners: start-up and self-employment visas.

Golden Visa:

Currently, foreigners have four investment avenues to apply for a 5-year renewable Latvian investment visa:

1. Invest more than 250,000 euros in local real estate (excluding agricultural or forest land) and pay a one-time 5% property acquisition tax.

It is important to note that, investors can only buy property from EU citizens or Latvia residence permit holders, the program doesn’t allow foreign investors to buy property from Latvian citizens.

2. Invest 50,000 euros in shares of a local company that pays no less than 40,000 euros in taxes annually and has an annual budget of less than 10 million euros. Additionally, a one-time payment of 10,000 euros to the state budget is required.

You can also qualify by investing 100,000 euros in a local Latvian company, or in a branch of a multinational company that has an annual budget exceeding 10 million euros and employs more than 50 people.

3. Deposit 280,000 euros in a Latvian bank and pay a one-time state duty of 25,000 euros.

4. Purchase special zero-interest government bonds worth 250,000 euros and pay a one-time payment of 38,000 euros.

All investments must be held for a period of 5 years.

The main applicant, their spouse, and children under 18 can apply for a 5-year Latvia residence card through these four avenues.

This card is renewable indefinitely under consistent conditions. Though the card requires only an annual visit to Latvia, prolonged residency in Latvia is necessary for those aspiring for permanent status.

Documents required for the application include: a completed application form, proof of source of funds, a certificate of no criminal record from regions where the applicant has lived for at least 1 year in the past 10 years, proof of investment, medical examination, proof of relationship with co-applicant, and a certificate of no criminal record for children aged 14-18.

Applicants can make investment after their visa application has been approved, but they must visit Latvia once to provide fingerprints and collect the residence card. The required process is roughly as follows:

1. Submit application: Organize all required documents, funds for investment, complete the application form, and submit it. Pay the processing fee (20,000 euros for individual applications, 25,000 euros for families of up to 4 members).

2. Complete investment: After the Latvian government has reviewed and approved the application, the main and co-applicant will receive a Class D visa to enter Latvia. With this, they can go to Latvia, finalize their investment, provide fingerprints, and apply for the local residence card.

Generally, upon receiving an application, the Latvian government will complete the review within 30 working days and then produce the residence card within the next 10 working days.

Start-up Visa:

Latvia offers foreigners the opportunity to work and live locally through start-up and self-employment visas. The financial requirement for this type of visa is only 6,000 euros, but it requires a business plan that has been approved by the Latvian government.

Digital Nomad Visa:

Latvia announced a new digital nomad visa program in February 2022, but the project is still in the legislative phase.

Some of the details that have been leaked so far are: The core economic requirement for the visa for remote workers is a stable income of more than 2857.5 euros per month, with a validity period of one year and an option to renew for another year. The program is only open to remote workers overseas who have set up companies in OECD countries or work for companies in OECD countries.

We’ll provide more precise details once the visa system is officially in place.

Work Visa:

Latvia offers four distinct work visa categories. Typically, candidates must present an employment agreement from a Latvian employer and possess a minimum of 5 years of work experience(this requirement can be reduced to three years for certain industries or top talents).

Alternatively, foreigners can opt to live and work in Latvia using the EU Blue Card.

Securing a work visa in Latvia is quite streamlined. Interested individuals should liaise with Latvia’s foreign consulates, assemble the required documentation, attend the visa exemption interview at the designated time, and await the outcome.

Once in Latvia, it’s mandatory for work visa holders to register with the local Office of Citizenship and Migration Affairs (OCMA).

Naturalization:

Foreigners can apply for Latvian permanent residency after legally residing in Latvia for a full 5 years (accumulating over 4 years of residence within those 5 years, with a single absence not exceeding 6 months) and passing a basic test on Latvian language, history, and national culture.

To obtain Latvian citizenship, foreigners must live locally for a total of 10 years (including 5 years as a permanent resident) and pass the Latvian culture and language test.

Passport Power:

Latvia allows dual citizenship, and its passport is ranked joint 10th globally. Passport holders can travel freely (visa-free or visa-on-arrival) to 184 countries and regions worldwide, including Europe, America, Australia, New Zealand, Japan, South Korea, Hong Kong, and Taiwan.

Useful Links:

Latvia Office of Citizenship and Migration Affairs：https://www.pmlp.gov.lv/en