YOU ASK WE ANSWER

GOLDEN VISA QUERIES

Can I get a permanent residency in Latvia if I buy a real estate property, make a financial investment, or set up a business?
The program grants a five-year residence permit that can be renewed indefinitely if the investment continues. The Golden Visa allows the applicant and his family to live in Latvia permanently. Permanent residence permit is valid for life if the investment continues. There is no limit on how long you can stay. On the other hand, there is no minimum length of stay, either.
How long do I have to live in Latvia to keep my Latvia Golden Visa?
The Golden Visa for Latvia is issued for five years and can be renewed indefinitely if the investment is maintained. However, there is no minimum-stay requirement, by means that the Golden Visa holders are not required to stay in Latvia, or visit Latvia, during the period that they hold the Golden Visa. Still, it is required to return every five years to update the biometric data.
Who is considered a family member?
Primary applicant’s family members can also obtain Golden Visa and residency permits. This includes:
  • Spouse of the applicant. In the event of a divorce, the ex-spouse may lose the right to residency if their permit is based on their marriage to the primary applicant.
  • Biological or adopted children of the primary applicant or spouse who are under 21 years old. Children over 21 who are financially dependent on the primary applicant (in some cases). Children who turn 21 while holding a residency permit can extend it until they turn 24 if they are unmarried and financially dependent on the primary applicant.
  • Exceptionally parents of both the applicant and their spouses if they are dependent on the applicant (this is subject to approval)
What happens in the cases where someone tarnishes their criminal record, either in their country of origin or in Latvia during the period when their Latvian residence permit is valid?
This leads to the revocation of the permit.
Can UK Citizens apply for Latvia Golden Visa after Brexit?
Yes, as of January 1st, 2021, post-Brexit, British citizens from the UK can now apply for Golden Visa in Latvia. Keep in mind that the Latvia Golden Visa program is designed for non-European Union citizens.
Can Americans (US citizens) apply for Golden Visa in Latvia?
Yes, Americans, just like citizens of every non-EU nation, can apply for a Golden Visa in Latvia if they meet the eligibility criteria.
Are unmarried partners entitled to a residency permit in Latvia Golden Visa program?
Unmarried partners are generally not automatically entitled to a residency permit under the Latvia Golden Visa program. Latvia typically recognizes family reunification for spouses, children, and dependents. However, it might be possible to apply for a residency permit for an unmarried partner if you can demonstrate a long-term, committed relationship. It’s advisable to consult with legal experts to understand the specific requirements and possibilities in such cases.
What should the value of the investment be if the ownership/purchase document includes the name of both spouses?
They both get benefit out of Golden Visa program.
Is it possible to obtain more than one piece of property?
If you choose to invest in real estate, the minimum investment amount is EUR 250,000. You can obtain more than one property as long as their combined value meets or exceeds this minimum threshold. For example, if you purchase two apartments, their total value must be at least EUR 250,000. It’s essential to ensure that the properties comply with the conditions set by the program.
Can the investor buy a commercial property?
It can be residential or commercial; the law does not distinguish between commercial and residential properties.
Can more than one investor own a property and be eligible for a Golden Visa?
Yes, they can. Joint investment is permitted for both the real estate and the capital transfer options. Yet, each investor should meet the minimum investment amount to be eligible for a Latvia Golden Visa (and both their families shall qualify).
Can I apply to Latvia Golden Visa by making a financial investment and then switch to real estate?
It is possible to apply for the Latvia Golden Visa by making a financial investment and later switch to a real estate investment. However, any changes in the investment type should be in line with the regulations set by the Latvian government. It’s recommended to consult with a legal expert to understand the process and any implications of switching your investment.
Can I use the Latvian residency permit to travel to other European Union countries?
Latvia Golden Visa holders can travel in the Schengen area for up to 3 months each semester without needing an additional visa. The Schengen area consists of 26 European countries that have officially abolished visas and border controls at their common borders.

The Schengen Area covers most EU countries except Ireland and the soon-to-be-joined Romania, Bulgaria, Croatia and Cyprus. Although not members of the EU, countries such as Norway, Iceland, Switzerland and Liechtenstein are also part of the Schengen area.
Can I travel to Schengen countries directly from my country, or do I need to first come to Latvia?
Yes, with the Golden Visa you hold, you can travel directly to any Schengen country from your home country or from any other countries. You don’t need to start your travel to Schengen countries from Latvia.
How long does the process of obtaining residency in Latvia take?
The timeframe to receive the Golden Visa approval as set by the law is two months, after giving the biometric date.
Is it necessary to hire a lawyer to collect the documents and to complete the application and related transactions?
This is not mandatory, but highly recommended. We suggest the applicants to have a legal representative in Latvia with a Power of Attorney which is duly signed in front of a public notary or in a Latvian Consulate abroad, to act on behalf of them and for the application submission and other issues to be handled during the process.
How long do I need to live in Latvia to renew the Golden Visa?
Unlike other residence programs, the Latvia Golden Visa does not have a minimum stay requirement in Latvia for renewal. Main condition for renewal is that the investor continues to own the investment in Latvia.
How many times can I renew the Golden Visa?
The Latvia Golden Visa is issued for five years and can be renewed indefinitely if the required investment continues. There is no limit on how many times the Golden Visa can be renewed.
Can I get Latvian citizenship by investment?
The Latvia Golden Visa program is not a citizenship-by-investment program. However, the Golden Visa holders may be eligible to apply for naturalization in Latvia at the end of ten years, if they meet a set of criteria. To apply for citizenship, they must have legally and physically resided in Latvia for at least ten years. Knowledge of Latvian Language and Integration into Latvian Society are also among the main conditions. Furthermore, applicants must have a clean criminal record both in Latvia and in their country of origin. Being a tax resident in Latvia during this period is also a mandatory condition.
Can the investment permit in Latvia be considered a work permit?
The Latvia Golden Visa does include the right to work in Latvia. Once you obtain the residence permit through the investment program, you can legally work, start a business, or be employed in Latvia without the need for a separate work permit.
Can the applicant take a mortgage out on the property to receive a loan?
No, unfortunately, applicants are not allowed to take a mortgage out on the property in Latvia.
Can I rent the real estate property to third parties?
Yes, of course, investors who own real estates in Latvia can rent their properties to third persons and generate income.
If I obtain the Latvia Golden Visa and become a resident, do I have to pay taxes there?
If you obtain the Latvia Golden Visa and become a resident, your tax obligations will depend on your tax residency status. Latvia taxes individuals who spend more than 183 days in the country in a calendar year. If you do not live in Latvia and do not become a tax resident, you may not have to pay income taxes there. However, it’s essential to consult a tax advisor to understand how your global income might be affected.
Can I access healthcare and education system in Latvia?
Yes, of course, investors and their families have access to high standard education and health systems of Latvia.
Is it required of the investor to prove their economic capacity?
Yes, the applicants must prove their income by suitable documentation which prove their capacity. They must also certify the existence of bank accounts or other transferable securities, as well as the source of their funds.
Can I set up my own business in Latvia as a Golden Visa holder?
Yes, as a Golden Visa holder, you are allowed to set up your own business in Latvia. The Latvia Golden Visa provides you with the right to live and work in Latvia, making it possible for you to establish and run your business operations in the country.
What if I sell the property or business?
If you sell the property or business while the residence permit is still in force, your residence permit will be revoked. Any residence permits issued to family members will also be revoked.
Is my investment for a business subject to any approval?
Yes, setting up a business in Latvia under the Golden Visa program is subject to approval by relevant government bodies. The authorities review the business plan to ensure that it aligns with economic development goals and that the investment will contribute to the local economy.
Is joint investment accepted in case of capital transfer?
If, for example, two individuals invest a combined total of EUR 100,000 in the same business, they may both be eligible for the Golden Visa. Each investor needs to meet the minimum investment requirement individually to apply for their visa. Moreover, both investors’ families may also benefit from the program, allowing them to apply for residency permits as dependents.
Which sectors are favoured if I make a capital transfer (set up business)?
Latvia is generally open to investments in various sectors, but those that contribute to economic growth, innovation, and job creation are particularly favoured. Sectors such as information technology, manufacturing, green energy, logistics, and services are highly encouraged. Investments that align with Latvia’s economic development goals or bring technological advancements may receive more favourable consideration.
Can any eligible person who invests minimum EUR 50,000 for a business obtain Golden Visa (residency) immediately or is there a minimum number of years to apply for the residence permit?
Generally, once the investment is completed and all required conditions are fulfilled, eligible investors can obtain a residence permit relatively quickly, often within a few months. There is no minimum number of years to wait to apply for the permit once the investment criteria are satisfied.
Which investment option is more favourable? Buying a property, buying government bonds or capital transfer?
While setting up a business requires a lower minimum investment, other options like real estate purchases or capital transfers may appeal to those who prefer a more passive approach. Investing in real estate or government bonds is usually considered less risky, as it does not involve the complexities of running a business or meeting employment requirements. The choice between these options depends on individual preferences, risk tolerance, and long-term goals.
Can I buy a car with Latvian license plates for my transportation needs in the country?
Yes, you can buy a car with Latvian license plate under the specific regulations of the country, which apply to third country citizens.