Latvia Golden Visa

Why invest in Latvia residence program?

Latvia residence by investment program was launched in 2010 in order to attract foreign investors. This European Golden visa program offers EU residency and citizenship in exchange for investment in real estate. Though Latvia might not be the first country that would come to your mind when choosing a residence destination, we’ll tell you why it’s worth considering it.

Latvia is a beautiful country with its own unique identity, culture, traditions and customs. Living there is affordable; however, it is not at the expense of the quality. By investing €250,000 into real estate you will get a luxury property with high-end finishes and you’ll be eligible to apply for Latvia Temporary Residence. The application process for residence takes 30–90 days.

Benefits of Latvia Golden visa

You and your family do not have to live in Europe prior to applying for Latvia residence permit. Neither would you be asked to attend an interview or prove your knowledge of the Latvian language. Latvia Golden visa offers the cheapest real-estate investment in Europe.

How to get a Latvia residency by investing in property?

For many years Imperial & Legal is the go-to experts for all the things you need when moving to another country. We provide immigration, taxation and relocation advice, and much more. We will help you find your ideal home through our trusted real estate agents in Latvia, close a deal and settle there with comfort, confidence and security.

Buying a real estate in Latvia

You’ll be pleasantly surprised by the quality of property you can buy in Latvia for €250,000. About 150 m2 of high-quality living in the city centre, close to all the amenities, schools and shops. It will be ready for you and your whole family to move in and enjoy the high standards of design and finishes. If you wish to sell your flat later, rising housing prices will make sure you capitalise on your investment.

The Latvian real estate market is full of properties for any taste and budget. And don’t forget that you are not only buying a home for yourself and your family in a beautiful country; this investment will secure your future as it will help you get Latvia permanent residence and a European passport.

Requirements for Latvia Golden visa

To be eligible the main applicant must be 18 and older. Dependants can include a spouse, minor children, financially dependent children and parents. All dependent family members can apply for Latvia Residence Permit together with the main applicant. Residence permit is valid for 5 years with annual renewal requirement.

Invest at least €250,000 in one or two properties depending on the location. Please bear in mind that you are not permitted to buy agricultural land, woods or forests and you cannot pay in cash. Cadastral value of the property must be at least €80,000. Additional 5% of the real estate purchase value must be paid as government fees upon approval and 2% stamp duty for registration of title.

Other criteria

In addition to requirements given above, applicants must comply with and have the following:

• Clean criminal record.
• No real estate tax debts.
• Good health condition.
• Available funds to maintain yourself and your family.
• Health insurance for 1 year after the permit is granted.

Latvia permanent residence and citizenship

If you decided to start your life in Europe and would like to apply for Latvia permanent residence, you must live in Latvia for at least 4 out of the last 5 years after obtaining a Latvia residence permit. Apart from that, you must also pass the Latvian language test, have knowledge of general history of the country and know the National anthem.

Latvian citizenship requirements

In order to be eligible to apply for Latvian citizenship and get European passport you must live in Latvia for 10 years, 5 of which as a permanent resident, you will need prove it with your permanent place of residence and a confirmation of employment. Make sure you fulfil other requirements as well:

• Demonstrate knowledge of the basic principles of the Constitution of the Republic of Latvia, the National Anthem and the basics of the history and culture.
• Clean criminal record and good character.
• No tax or other debts.