Over 4300 Golden visas issued to foreign investors in Latvia
- April 8, 2019
- Posted by: SB Latvia
- Category: Latvia Immigration
Latvia has the cheapest golden visa schemes in Europe with investments starting from 50,000 Euros, which is five times cheaper than Greece and Portugal. Latvia also offers permanent residence permits for investments in business, bonds/securities and real estate.
The Golden visa residence scheme in Latvia was introduced by amending the Immigration Law in 2010. This step was taken as a reaction to the financial crisis that hit Latvia in 2008. The main idea behind this scheme was to attract foreign investors in order to facilitate Latvia’s economic recovery and growth by activating the real estate market and creating new jobs.
Main conditions (main investment and other charges) under the Latvian investors’ residence scheme:
Real Estate Investment
Invest at least EUR 250,000 + 5% payment to the State budget and get up to 5 years Residence Permit.
Invest at least EUR 50,000 or EUR 100,000 investment into capital companies depending on the company’s size (i.e. turnover and the number of persons employed) + EUR 10 000 payment to the State budget and get up to 5 years Residence Permit.
Invest into Subordinate liabilities of credit institutions
Invest at least EUR 280,000 + EUR 25,000 payment to the State budget and get up to 5 years Residence Permit.
Invest into State securities
Invest at least EUR 250,000 + EUR 38,000 payment to the State budget and get up to 5 years Residence Permit.
Invest at least EUR 30,000 within the first 6 months; at least EUR 60,000 within 18 months and get up to 3 years Residence Permit.
Latvia has issued a total of 9,400 permanent residence permits (investor + family) for golden visa investment from 2010 to 2018, according to the data released by PMLV migration office