Investor Residence Permit

Latvia's Investor Residence Permit allows third-country nationals to obtain a temporary residence permit by making a qualifying financial investment in the Latvian economy. Established under Section 23(1) Clauses 28-31 of the Immigration Law, the program is administered by the Office of Citizenship and Migration Affairs (PMLP). It provides the right to live, work, and study in Latvia with visa-free travel throughout the Schengen Area. Citizens of the Russian Federation and Belarus are currently excluded from new applications.

• Non-EU, non-EEA, non-Swiss national (Russian and Belarusian citizens excluded since April 2022)
• Qualifying investment through one of four pathways:
  • Equity capital: EUR 50,000 in a small Latvian company (up to 50 employees, turnover under EUR 10 million) or EUR 100,000 in a larger company. Maximum 10 foreigners per company for the EUR 50,000 threshold. The company must pay at least EUR 40,000 annually in taxes.
  • Real estate: EUR 250,000 minimum purchase value for property in Riga, Jurmala, or specified surrounding municipalities. Cadastral value must be at least EUR 80,000. Property must be non-agricultural, non-wooded, and already constructed.
  • Credit institution deposit: EUR 280,000 in subordinated obligations toward a Latvian credit institution with a minimum 5-year term.
  • Government bonds: EUR 250,000 in interest-free government securities (purchased after permit approval).
• Proof of subsistence: EUR 1,500/month for real estate investors, EUR 500/month for other investment types
• Additional EUR 500/month per adult family member and EUR 150/month per minor child
• One-time state budget payment depending on investment type (EUR 10,000 for equity capital, 5% of purchase price for real estate, EUR 25,000 for credit institution, EUR 38,000 for government bonds)

• Completed residence permit application form
• Full copy of valid passport
• Photograph (3x4 cm)
• Proof of subsistence (bank statements)
• State duty payment confirmation
• Investment-specific documentation (company registration, property deed, credit institution confirmation, or bond purchase intent)
• Criminal record certificate from country of citizenship/residence (for applicants aged 14+)

The permit is issued for up to 5 years. The physical residence permit card must be re-registered annually at a PMLP office. The investment must be maintained for the full permit duration. After 5 years of continuous temporary residence (with at least 4 years of physical presence), holders may apply for EU long-term resident status, which requires Latvian language proficiency at A2 level. Citizenship by naturalization is possible after 10 years total (5 years temporary + 5 years permanent residence).

Spouse and minor children may apply simultaneously with the main applicant. Family members need relationship proof (marriage or birth certificate), valid passport, photograph, and proof of subsistence (EUR 500/month per adult, EUR 150/month per minor). For children not accompanied by both parents, notarially certified consent from the other parent is required. Family members receive the same permit duration and unrestricted employment rights in Latvia.

Latvia taxes residents on worldwide income. Tax residency is triggered by presence of 183 or more days in any 12-month period. Progressive personal income tax rates apply: 25.5% on income up to EUR 105,300, 33% above that, and an additional 3% above EUR 200,000. Investors not physically present for 183 days are taxed only on Latvia-source income. Real estate owners must keep the property free of tax debts, and equity capital investors must ensure their company meets minimum annual tax payment thresholds.

Applications are submitted in person at PMLP offices in Latvia or at Latvian diplomatic or consular missions abroad. For real estate investment, the property purchase must be completed before application. For equity capital, the investment must be registered in the Commercial Register. Government bonds are purchased after the positive permit decision. Processing takes 30 days standard, 10 working days expedited (EUR 280), or 5 working days fast-track (EUR 560). Standard state duty is EUR 160. There is no minimum physical presence requirement to maintain the permit, making this an attractive option for those seeking Schengen access without mandatory residency.