INVESTOR GOLDEN VISA IN LATVIA
In 2010, Latvia launched its golden visa scheme. By spending €250,000 on real estate, investors can obtain a five-year residency permit. The new limit, which went into effect in 2014, is only for the first 800 applicants. The investment limit then rises to €500,000. A government processing fee of €25,000, or 5% of the property value, is also charged.
- €250,000 investment • Full family residency
- There is no necessity to live in the area.
- EU Schengen visa travel
- Eurozone currency
- Renewable after 5 years
Latvia is a Schengen visa-free country and a member of the Eurozone. As a result, investors with a residency in Latvia are permitted to travel within the EU Schengen visa zone. After five years, applicants can apply for permanent residency, but they must have spent the majority of that time in the country. Riga, Latvia’s capital, is only 90 minutes away by plane from Moscow. Latvia is a popular location for Russians seeking investment visas, residency, and citizenship in Europe because the majority of its population speaks Russian.
After a minimum of five years of residence in Latvia, the person can apply for a Latvian Permanent Residence. They must have spent at least four years in the country and be fluent in the language, basic history, and national anthem.
After ten years of residency in Latvia, applicants can petition for citizenship.
COMPARE GOLDEN VISA PROGRAMMES
Latvia isn’t the only European country that offers a golden visa scheme based on real estate investment. Compare the investment criteria and benefits of residency and citizenship in Portugal, Spain, Greece, and Cyprus on our pages on these countries.