The Latvia Residence-by-Investment Program was launched in July 2010 by the Latvian Governments is one of the most affordable and fastest options in Europe.
The Latvian Residency by investment (RBI) program allows foreign nationals may apply for the residence permit in Latvia through the purchase of real estate or by making a financial investment in government bonds or business or bank deposit.
Latvia is a baltic country in Europe. In 2007 Latvia joined the Schengen Area. Foreign investors along with their families can acquire a long term residence status in Latvia based on investment activity. The cheapest route is business route which requires only $50K onwards.
- Visa-free access to the entire Schengen Area
- No minimum stay is required to be eligible for the residence permit renewal
- Fast-track application procedure
- Russian is widely spread and spoken
- Excellent transport links with Russia and the EU member states
Investment conditions
- Real estate: Purchase of real estate of EUR 250,000, plus a one-time payment of 5% of the purchase price to the state budget; or
- Bank deposit: Investment of EUR 280,000 in the subordinated capital of a Latvian bank for a period of five years, plus a one-time payment of EUR 25,000 to the state budget; or
- Business: Investment of between EUR 50,000 and EUR 100,000 in the equity capital of a Latvian company (investment amount depends on the size of an enterprise); or
- Government bonds: Purchase of special purpose interest-free bonds at a nominal value of EUR 250,000, plus a one-time payment of EUR 25,000 to the state budget
The processing of an application takes approximately 30–90 days. Immediate family members may apply for the residence permit together with the main applicant. The residence permit is issued for five years with the requirement for annual renewal. There is no minimum stay requirement in Latvia in order to renew the residence permit.
Permanent resident status
After five years, the holder of a temporary residence permit may apply for permanent residence. To qualify for a permanent residence permit, the candidate must physically reside in Latvia for four out of the last five years and successfully pass the state language proficiency examination.
Latvia Citizenship
Citizenship can be obtained after 10 years of legal residence in Latvia if the applicant has been a permanent resident for the last five years preceding the date of submission of the application. To qualify for citizenship, the applicant must physically reside in Latvia for at least four out of the last five years.
Dual Citizenship
Latvia does not allow dual citizenship.
