In contrast, Latvia offers a stable, affordable, and investor-friendly residence-by-investment program. The Latvian Golden Visa grants a temporary residence permit (up to five years, renewable) to foreign nationals and their families, with a clear path to permanent residence or EU long-term status. Unlike Greek golden visa, Latvia’s program emphasizes practical business integration, particularly through investment in Latvian companies—the most accessible and sustainable route available today.
Latvia’s Investment-Based Residence Options
Latvia currently offers four investment-based residence permit categories:
- Real estate – minimum of €250,000
- Bank deposit – €280,000
- Government securities – €250,000
- Investment in a Latvian company – starting from just €50,000
Why Invest in a Latvian Company?
The most affordable and business-friendly route to Latvian residency is through investment into a local commercial company. This option supports Latvia’s economy directly and offers investors long-term engagement with a functioning EU-based enterprise.
To qualify:
- Invest at least €50,000 into the share capital of a Latvian company that:
- Employs no more than 50 people;
- Has annual turnover or balance not exceeding €10 million;
- Pays at least €40,000 in taxes per year.
- Pay a €10,000 state fee.
- A maximum of 10 investors per company is allowed, provided each meets the full criteria.
Eligible Family Members:
- Spouse
- Minor or adopted children
- Legal dependents under guardianship or trusteeship
Application Process and Deadlines
You may submit your application:
- Through a Latvian embassy in your country (or nearest eligible embassy if none exists locally);
- Directly at the Office of Citizenship and Migration Affairs (OCMA) in Latvia.
Processing Options
- Standard (30 calendar days): €160
- Accelerated (10 business days): €260
- Urgent (5 business days): €560
Upon approval, applicants must travel to Latvia within three months to receive their residence permit ID cards.
Renewal and Long-Term Options
After five years, investors and family members can:
- Renew their residence permits (if investment criteria are still met), by paying an additional €5,000 state fee;
- Apply for permanent residence or EU long-term resident status.
Key Advantages of Latvian Golden Visa
- Freedom of movement across the Schengen Zone (including Switzerland, Norway, and Iceland);
- No obligation to reside in Latvia to retain the residence permit;
- Cost-effective entry into the European Union;
- Clear route to permanent residency after five years;
- Opportunity to invest in and grow an EU-based business.
Conclusion: Affordability, Stability, and Simplicity
While Greece’s program has become more complex and costly—especially with the looming phaseout of real estate investments—Latvia offers unmatched transparency, affordability, and reliability. The €50,000 company investment option is one of the most cost-effective legal pathways into the EU, making it an ideal choice for business-minded individuals seeking long-term European residency for themselves and their families.
Whether you are looking for geographic flexibility, a gateway to the EU market, or a stable jurisdiction for investment, Latvia’s Golden Visa delivers more value, clarity, and opportunity than ever before.