Latvia Scraps Property Golden Visa.

Latvia has made important changes to the golden visa program by terminating property and bank deposit route for foreign investors. A new 150,000 EUR state fund route has been created for investors to receive five year residence permit. Company share and Bond route remains open. The new Immigration Law, adopted by the Saeima on August 20 of this year, came into force on September 15. It is important to understand that golden visa program remains fully operational and not scrapped. Latvia joins Portugal, Spain and other countries, suspending property route for golden visa investors.

New State Fund Route

The new law introduces a new type of investment—a 150,000 EUR investment in a manager of an alternative investment fund established by the state
The fund manager must confirm that the agreement remains valid and the investment stays above €150,000. Latvia’s Office of Citizenship and Migration Affairs (OCMA) has confirmed that the state fund has not been created. Application procedures and other implementing rules are still pending.

Golden Visa Approvals

Latvia approved 201 investor residence permits in 2025, up about 34.9% from 149 in 2024. Property accounted for 48% of investment permits, up from 29% in 2024, while company equity represented 49%. Turkish nationals accounted for 20% of approvals, followed by Vietnamese nationals at 11% and applicants from the United Kingdom

Legislation

Article 27(1)(36) allows permits of up to five years for investors who place at least €150,000 (about US$172,000) with a state-established alternative investment fund manager for at least five years. Applicants must also pay €10,000 (about US$11,500) into the state budget. Applications filed before September 15, 2026 will be assessed under the old law, while existing temporary permits remain valid until their registration or validity periods expire.

Company Share Capital

The company route requires at least €50,000 in share capital for businesses with no more than 50 employees and no more than €10 million in annual turnover or balance sheet total. First-time applicants must also pay €10,000 into the state budget. To retain the permit, the company must pay at least €40,000 a year in state and municipal taxes. For larger companies, the minimum investment rises to €100,000, with annual tax payments of at least €100,000. Taxes paid by Latvian-registered subsidiaries count toward the requirement. TRP Permits last up to two years.

State issued bonds

Foreigners are required to buy state bonds for 250,000 EUR plus pay state fee of EUR 38,000 to receive five year permits under the current golden visa legislation.

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