Company Formation

Latvia does not just offer immigration or real estate immigration programs. Individuals who meet the following conditions: graduated, or have business experience can set up a company in Latvia, thereby being able to apply for residence permits for the entire family. The company must pay a minimum monthly tax of EUR 560 to the Latvian government to meet the conditions for the extension of residence card for the following years.


  • Do business in all European and even Russian markets
  • Latvia offer low tax rate among EU countries
  • Instant 5 years Residency
  • Biometric ID cards issued for 1 year (renewable each year)
  • No minimum stay required
  • Visa-free travel in the EU Schengen Zone
  • Permanent residence permit after 5 years
  • Citizenship after 10 years
  • And many more

Company Formation

  • Share capital 1,400 EUR
  • Company registration fees & Business bank account setup 400 EUR

Full standard Latvian company share capital should be at least EUR 2’800, however, by registering new company, you can pay only half, i.e. EUR 1’400. Once company has been registered, this money will remain in the company bank account and can be used for any business purpose, e.g., office rent, salaries or any other purpose.

Monthly expenses

  • Required minimum monthly taxes 560 EUR
  • Basic accounting 60 EUR
  • Company registered address 45 EUR
  • Residential address 45 EUR

Service fees

  • Legal service fees for main applicant 4,500 EUR
  • Each additional family member 300 EUR
  • Annual TRP renewal (from 2nd year) 900 EUR

Main Applicant

  • Be over 18 years of age
  • Have enough money on your bank proving necessary subsistence for a year
  • Have a clear criminal record


  • Should be married to you
  • Have a clear criminal record


  • Should be under the age of 18 years at the time of application
  • Children can keep the residence permit as long as they are not married and can prove that they live together with the parents
  • Children older than 14 (but less than 18) years of age should have a clear criminal record

Other Relatives

  • Once you have received your residence permit, you can invite your relatives for visa purposes, up to and including second-degree relatives.

Required Documents

  • Graduation documents for main applicant
  • Residence permit application.
  • A photograph.
  • Proof of subsistence.
  • Proof of place of residence in Latvia.
  • Proof of company registered address in Latvia.
  • Documents related to dependent minor child or child under maintenance. These documents include proof of relationship and permission of other parent for the child to reside in Latvia, if required.

The cost to maintain residence permits for 5 years can become a big problem. In addition, if you do not have university degree, or cannot prove your business experience, you should consider investing in a company in Latvia instead.

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Cheapest Europe Golden Visa: 5 Years Residence Permit in Latvia for Only 20,000 EUR.

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About the Latvia Business Investment Golden Visa Program