Latvia’s Golden Visa: A Budget-Friendly Path to EU Residency

For an investment starting around $64,500, foreign investors can secure a five-year residency permit in Latvia, gaining access to the European Union and the Schengen Area. Latvia’s Golden Visa program is emerging as one of the most affordable routes to EU residency, attracting investors seeking a cost-effective “Plan B” and offering a unique model focused on supporting the country’s small and medium-sized enterprises (SMEs).

How Latvia’s Golden Visa Works

Latvia’s investor visa program requires a minimum €50,000 equity investment in a qualifying Latvian company, coupled with a one-time €10,000 state duty paid upon approval of the residence permit [1]. Unlike some European residency schemes focused on real estate, Latvia’s program centers on corporate equity and ongoing tax contributions. Qualifying companies are defined as having fewer than 50 employees and annual turnover below €10 million [1].

Investors acquire shares in the company, but are not required to actively manage the business. This appeals to globally mobile professionals who desire EU access without relocating their careers or directly running a Latvian operation [1]. The program provides a temporary residence permit valid for five years, renewable annually with a biometric ID card.

The Tax Requirement: A Key Differentiator

A crucial aspect of Latvia’s Golden Visa is the requirement for the investee company to pay at least €40,000 in taxes annually [1]. This stipulation distinguishes Latvia’s program from those criticized for attracting passive investment with limited economic benefit. The tax requirement ensures that the investment contributes to Latvia’s economy and tax base, providing a stronger justification for the program’s existence.

Benefits of Latvia’s Golden Visa

• EU Access: Residency in Latvia grants access to the Schengen Area, allowing visa-free travel for up to 90 days within any 180-day period [2].
• Business Opportunities: Investors can register a business in Latvia or work in any EU country [2].
• Path to Citizenship: After five years of residency, applicants can apply for permanent residency, and after ten years, they can apply for Latvian citizenship, subject to meeting requirements such as a Latvian language exam [2].
• Affordability: With a starting investment of just €50,000, Latvia offers one of the lowest entry points for residency by investment in Europe [2].

Recent Trends and Application Surge

Latvia’s Golden Visa program has experienced a significant increase in applications. In 2025, applications surged by 51% compared to the previous year, marking the program’s strongest performance since 2021 [3]. As of the first half of 2025, Latvia approved 44 main applicants, already 76% of the total approvals for all of 2024 [3].

The demographic of applicants is also evolving, with increasing interest from Vietnamese, UK, and Indian investors, while applications from Chinese nationals have declined [3]. This shift is partly attributed to processing delays and rising costs in other EU residency programs, such as those in Greece and Portugal.

Eligibility and Requirements

• Minimum Investment: €50,000 in equity capital of a qualifying Latvian company.
• State Duty: €10,000 one-time payment.
• Tax Contribution: The investee company must pay at least €40,000 in taxes annually.
• Company Size: The company must have fewer than 50 employees and annual turnover below €10 million.
• Residence Permit Validity: 5 years, renewable.
• Citizenship Eligibility: After 10 years of residence, subject to language requirements.

Looking Ahead

Latvia’s Golden Visa program represents a shift towards residency-by-investment schemes that prioritize genuine economic contribution and tax revenue. As other European countries re-evaluate their programs, Latvia’s model may serve as a blueprint for attracting investment while ensuring tangible benefits for the host country. Investors should prioritize due diligence and select companies with strong governance and sustainable business models to ensure long-term eligibility and success [4].