Residence permit for investors

A foreign investor is eligible to obtain a residence permit in Latvia for 5 years with a possibility of extension if he/she invests in the company share capital, real estate, government bonds and credit institution, as follows.

Investment in share capital

To obtain a residence permit in the Republic of Latvia as an individual who has invested in a company’s share capital either to increase it or to establish new company:

• If the investment is at least EUR 50,000 in a company with fewer than 50 employees, and the company’s annual turnover or balance does not exceed EUR 10 million. A temporary residence permit can be issued to no more than 10 foreigners per company, provided each has made the specified investment and paid EUR 10,000 into the State budget.
• If the investment is at least EUR 100,000 in a company with more than 50 employees, and the company’s annual turnover or balance exceeds EUR 10 million.

• If the investment is at least EUR 100,000 in the share capital of a company that, along with one or more subsidiaries registered in the Republic of Latvia, employs more than 50 employees and has a total annual turnover or balance exceeding EUR 10 million.

Investment in real estate

You are eligible for the residence permit in Latvia if you have purchased and own a property in Riga, Jurmala, or one of the following municipalities: Adazi, Babite, Baldone, Carnikava, Garkalne, Ikskile, Kekava, Marupe, Olaine, Ropazi, Salaspils, or Stopini and the following criteria are met:

• • The property is functionally related and not vacant land, with a total value of at least EUR 250,000. Alternatively, outside the specified areas, you may own up to two properties, each also meeting the criteria of being functionally related and with a total value of at least EUR 250,000.

• • There are no outstanding real estate tax debts.

• • The payment for the property was made via non-cash settlement.

• • The property was purchased from a legal entity registered in Latvia, an EU Member State, a country in the European Economic Area, or the Swiss Confederation, which is also a taxpayer in Latvia, or from a natural person who is a citizen or non-citizen of Latvia, an EU citizen, or a foreigner holding a valid residence permit in Latvia.

• • The cadastral value of the property at the time of purchase is at least EUR 80,000. If you have acquired two properties outside of Riga or Jurmala or in the specified municipalities, the cadastral value of each property must be at least EUR 40,000. If the cadastral value is lower, the total market value determined by a certified real estate appraisal must not be less than EUR 250,000, or EUR 125,000 for each property if you own two.

• • Upon applying for your first temporary residence permit, you must pay 5% of the property’s purchase value into the state budget.

• The property must not include agricultural or wooded land.

Investment in government bonds