About the Immigration Program
The current Latvian immigration legislation provides for the following grounds under which investors may obtain a temporary residence permit:
1. Based on Investment in Real Estate in Latvia
Acquisition of one functionally connected developed real estate property (excluding cases where the real estate is undeveloped land) in the Republic of Latvia (specifically in Riga or Jūrmala), in the amount of not less than EUR 250,000, subject to the following conditions:
- absence of debt in real estate tax payments;
- the transaction amount has been paid by non-cash (bank transfer) method;
- the real estate is acquired from a legal entity registered in the Republic of Latvia or a European Union member state, a European Economic Area country, or the Swiss Confederation, which is a taxpayer in the Republic of Latvia as defined by tax-related regulations, or from a private individual who is a resident of Latvia, a citizen of the European Union, or a foreignes residing in Latvia on the basis of a valid residence permit;
- the cadastral value of the real estate at the time of acquisition is not less than EUR 80,000.
- the investor, when applying for the initial residence permit on the basis of investment in real estate, has paid a one-time state fee of 5% of the
property value into the state budget;
- the real estate does not include land used for agriculture or forest land.
2. Investment in Latvian Credit Institutions
Based on subordinated obligations* with a credit institution, in the amount of no less than EUR 280,000, subject to the following conditions:
- the term of the agreement with the credit institution is not less than 5years;
- the investor, when applying for the initial residence permit on the basis of investment in a credit institution of the Republic of Latvia, has paid a one-time state fee of EUR 25,000 into the national budget.
* Subordinated obligations with a credit institution in the Republic of Latvia — these are obligations arising for a credit institution as a result of a loan (regardless of the form of the transaction), and which, based on the agreement concluded with the credit institution, grant the lender the right to demand repayment of the loan only in the event of insolvency or liquidation of the credit institution, and only after the claims of all other creditors have been satisfied, but before satisfying the claims of shareholders.
3. Investment in a Latvian Enterprise
If the investment is made as a contribution to the share capital of a company — either by establishing a new company or by increasing the share capital of an existing one — and the investor has paid a one-time state fee of EUR 10,000 when applying for the initial residence permit, the investment must be not less than:
EUR 50,000, if the contribution is made to a company with fewer than 50 employees, and with an annual turnover or annual balance sheet not exceeding EUR 10 million, and the company pays no less than EUR 40,000 in taxes annually (for a partial first reporting year following receipt of the residence permit, the total tax payments must average at least EUR 3,300 per month). When investing
in the share capital of a single company, no more than ten investors may apply for a temporary residence permit, provided that each has invested the required amount and paid the state fee of EUR 10,000.
or
EUR 100,000, if the contribution is made to a larger company that employs more than 50 people and whose annual turnover or balance sheet exceeds EUR 10 million, and the company pays at least EUR 100,000 in taxes annually (for a partial first reporting year following receipt of the residence permit, the total tax payments must average at least EUR 8,300 per month);
or
EUR 100,000, if the contribution is made to the share capital of a company which, together with one or more subsidiaries registered in Latvia, employs more than 50 people and has an annual turnover or balance sheet exceeding EUR 10 million.
4. Investment in Targeted Non-Interest-Bearing Government Bonds
Non-interest-bearing bonds are issued and provided to a foreign national if, in accordance with the legal acts regulating residence permit issuance, the individual has received a decision to grant the residence permit and has paid for the bonds from their current account in a Latvian credit institution or a branch of a foreign credit institution.
The investment in bonds must be in the amount of EUR 250,000, and upon the first application for a residence permit, a one-time state fee of EUR 38,000 must be paid.
A distinguishing feature of this option is the absence of the requirement for annual registration.
5. Other Options
Employment at a Latvian company as a member of the Management Board, Supervisory Board, or another officer registered in the Enterprise Register. The company must meet the following requirements:
- Share capital of at least EUR 2,800;
- Annual payment of applicable taxes and duties of no less than EUR 21,500.
