Latvia: Residence permit for investment in the economy
In Latvia, residence permit investment programme was launched in 2010 to attract foreign capital. Foreign nationals can obtain a residence permit by investing in the following areas:
- Company share capital:
- From €50,000 for companies with up to 50 employees and an annual turnover of up to €10 million.
- From €100,000 for larger enterprises.
- Government securities: From €250,000.
- Real estate: From €250,000.
- Banking sector: From €280,000.
Investors must also make a one-time contribution:
- €10,000 for business investments.
- €38,000 for government bonds.
- €25,000 for bank capital.
- 5% of the property value for real estate.
In addition to the primary applicant, their spouse and minor children can also qualify for an RP. After 5 years of residence, they can apply for permanent residence, and after 10 years, for citizenship. Since dual citizenship is not allowed in Latvia, applicants must renounce their original citizenship.
Required documents for an RP in Latvia
Participants in the programme must provide the following documents:
- Completed application form with a photograph.
- Copy of the passport.
- Proof of legal income (employment contract, securities).
- Bank statement confirming sufficient funds for living in the country (€700 to €2,100, depending on the chosen asset).
- Payment receipts for government fees.
- Proof of meeting the program requirements (ownership certificate, bonds, etc.).
- Health insurance.
- Criminal record certificates from countries where the candidate has resided for more than one year in the past 10 years.
- TB certificate.
- Marriage certificate (if including a spouse in the application).
- Birth certificates of children (if including children in the application).
All documents must be translated into Latvian and notarized.
Investor expenses in Latvia: From €60,000
The cost of obtaining an RP varies depending on the chosen scheme and the number of applicants. In addition to direct investments and state fees, expenses may include the services of a notary, translator, and other specialists.
| Asset | Minimum Investment Amount | State Fee |
|---|
| Real Estate |
€250,000 |
5% of the object's value |
| Company Share Capital |
€50,000 or €100,000 (depending on the number of employees and annual turnover) |
€10,000 |
| Subordinated Capital |
€280,000 |
€25,000 |
| Government Bonds |
€250,000 |
€38,000 |
