Advantages of the Latvia Golden Visa
- The program offered by Latvia is recognized as one of the most cost-effective options available in Europe.
- Residency permits can be acquired within a timeframe of 1 to 3 months, thereby facilitating a swift relocation process.
- Individuals can enjoy visa-free travel across 29 countries within the Schengen Zone.
- The program does not impose a minimum stay requirement, thus providing flexibility for investors who engage in frequent travel.
- Applicants have the opportunity to include their spouse and dependent children, thereby securing residency for the entire family unit.
- Upon completing 10 years of residency, investors may become eligible to apply for Latvian citizenship, which confers the benefits associated with EU citizenship.
- Located in Northern Europe, Latvia functions as a strategic gateway for travel and business activities throughout the continent.
- Residents reap the advantages of Latvia’s exemplary healthcare and educational systems, alongside its rich cultural heritage’s
Requirements for the Latvia Golden Visa
- Applicants must be 18 years or older and be non-EU/non-EEA citizens.
- A clean criminal record is required, with no history of serious offenses.
- Evidence of stable income or savings must be provided.
- Valid health insurance is mandatory, offering coverage of at least €42,600 per year.
- Regarding residence permit renewal: The initial permit is valid for five years, with annual registration at the Office of Citizenship and Migration Affairs.
Investment Requirements
- Real estate investment: Invest €250,000 in Latvian properties (residential or commercial).
- Business investment: Invest a minimum of €50,000 to €100,000 in a Latvian business, depending on the company’s size.
- Government bonds: Purchase €250,000 in non-interest bonds with a €38,000 government fee.
- Bank deposit: Deposit €280,000 in a Latvian bank’s
Processing Time for the Latvia Gold Visa
Approximately 3-6 months
Application Process for the Latvia Gold Visa
➥ Sign a service agreement with JHM and the Latvian lawyer appointed by JHM.
➥ Prepare the required documents.
➥ Choose your investment option and complete it before applying.
➥ Submit the application forms and documents to the Latvian Immigration Service.
➥ Receive an approval valid for 90 days.
➥ Obtain a temporary D-visa to enter Latvia and attend the biometrics appointment at the Latvian Citizenship and Migration Office (OCMA).
➥ Acquire a 5-year temporary permit.
➥ Visit Latvia annually to re-register.
FAQ
Who can apply for the Latvian Golden Visa program?
Any third-country national (non-EU/EEA/Swiss) who meets the program’s eligibility criteria, including a qualifying investment and proof of sufficient financial capacity. Currently, only passport holders from Russia and Belarus are not qualified for the RBI Latvia.
- Equity Investment: Invest €50,000 into the share capital of a Latvian company and pay a €10,000 government fee.
- Real Estate Investment: Purchase real estate worth at least €250,000 in Latvia and pay a 5% government fee.
- Bank Deposit: Place a €280,000 subordinated deposit in a Latvian credit institution for a minimum of five years, plus a €25,000 government fee.
What types of investments are allowed under the program?
Currently, we offer investments in company share capital (€50,000), real estate purchases (€250,000), and a bank deposit option (€280,000).
Is there a requirement to prove financial capacity?
At the time of application, a bank statement showing a minimum balance of €8,880 for the main applicant is required. Additional funds are necessary for family members – sufficient funds of € 8,880 for a spouse and € 2,664 for each child.
What type of residency is granted?
A Temporary Residence Permit (TRP) is granted for 5 years, issued as a plastic card valid for 1 year. The card must be renewed annually in Latvia. The TRP can be renewed after 5 years.
Can I apply for Permanent Residency (PR) and Latvian citizenship?
After holding a TRP for five years and meeting residency requirements (8 months per year for 4 out of 5 years), PR can be granted.
After 10 years of residency (5 TRP + 5 PR), candidates must pass language exams, as well as tests on history, anthem, and constitutional knowledge, while also proving financial sufficiency.
