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Long-stay visas (Type D)

Latvian Latvia Residence Permit by Investment

Latvia's residence-by-investment route offers a five-year EU residence permit through roughly €250,000 in real estate (plus a 5% state fee) or about €280,000 in bank subordinated capital — but the property route closes on 15 September 2026.

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Important information

Immigration rules and fees can change. This information is for general guidance only and does not constitute legal advice. Always check the latest requirements on the official Latvia government website before you apply.
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Real estate investment (closing)
From €250,000
Built property in Riga or within ~30 km; route closes to new applications from 15 September 2026.
Real-estate state fee
5% of purchase price (min €12,500)
One-off state fee payable on the real-estate route, in addition to notary/escrow costs.
Bank/subordinated-capital route (closing)
From €280,000
Subordinated capital with a Latvian credit institution for 5 years; state fee ~€25,000. Also closing from 15 September 2026.
Business/company-equity route
From €50,000
Equity in a Latvian company (€50,000 for smaller firms; €100,000 for larger), plus a €10,000 state-budget payment.
Government bonds route
€250,000
Investment in special-purpose Latvian government bonds (with a state fee).
New State Investment Fund route (from 15 Sep 2026)
From €150,000
New route replacing property/bank options; held ≥ 5 years plus a €10,000 state-budget payment; the fund itself is still being established, so it is not yet operational.
Permit validity
5 years, renewable
Renewable while the qualifying investment is retained (business permits under the new law start at 2 years).
Existing permit holders
Keep their permits
The closure applies to NEW applications only; permits already granted stay valid until the ID card expires and can be renewed.
Renewal / registration fees
Approx. €5,000 per extension
Plus a per-person processing state fee (around €160); figures vary by route.
Processing time
Approx. 2–4 months
From submission of a complete application to OCMA/PMLP.
Exclusions
Russian & Belarusian citizens
Explicitly barred from the investment-based routes under the current and new legislation.

Who Latvia residence by investment is for

Historically the programme suited budget-conscious non-EU investors who wanted an EU/Schengen residence permit at a relatively low entry cost, using Riga real estate or a bank investment. With the real-estate and bank routes closing on 15 September 2026, it is now relevant mainly to those who can still file under the old rules in time, or who are willing to use the incoming business or State Investment Fund routes.

  • Non-EU (third-country) nationals seeking EU/Schengen residence
  • Investors who prioritised low cost of entry (real estate/bank)
  • Applicants able to file before 15 September 2026 under current rules
  • Entrepreneurs suited to the incoming €50,000+ business route
  • Not available to Russian or Belarusian citizens

Investment options and thresholds

Up to 14 September 2026 the menu includes real estate (€250,000), bank subordinated capital (€280,000), company equity (from €50,000) and government bonds (€250,000). From 15 September 2026 the real-estate and bank routes disappear, leaving a business investment from €50,000 and a new State Investment Fund route from €150,000, each with a €10,000 state-budget payment.

  • Real estate — €250,000 (Riga or ~30 km; closing 15 Sep 2026)
  • Bank subordinated capital — €280,000 for 5 years (closing 15 Sep 2026)
  • Company equity — from €50,000 (continues under new law)
  • Government bonds — €250,000
  • New State Investment Fund — from €150,000 (from 15 Sep 2026)

The property route in detail (closing)

For applications lodged by 14 September 2026, the real-estate route requires a single, already-built property worth at least €250,000 located in Riga or within roughly 30 km of the city, held for at least five years. A one-off state fee of 5% of the purchase price (minimum €12,500) applies, on top of notary fees and an escrow charge. From 15 September 2026 this route is abolished for new applicants — so anyone counting on Latvian property for residency must act before the cut-off or switch to another route.

  • €250,000 built property in Riga or within ~30 km
  • 5% state fee (minimum €12,500) plus notary and escrow costs
  • Five-year minimum holding period
  • Closed to new applications from 15 September 2026

Application process and timeline

You make the qualifying investment (or, for real estate, complete the purchase and pay the state fee), then file with OCMA/PMLP together with proof of funds, health insurance, accommodation and a clean record. Processing typically takes about two to four months. Permits are issued for five years under the current investment routes and renewed while the investment is retained.

  • Complete the qualifying investment and pay applicable state fees
  • Submit the application to OCMA/PMLP with supporting documents
  • Wait roughly 2–4 months for a decision
  • Receive a five-year permit; renew while the investment is held

What the permit gives you

A Latvian temporary residence permit — renewable and, after continuous lawful residence, a stepping stone toward permanent residence and eventually citizenship — with the right to live in Latvia and travel visa-free in the Schengen Area. Family members (spouse and minor children) can generally be included.

  • Renewable five-year EU residence permit
  • Visa-free travel across the Schengen Area
  • Spouse and minor children can be included
  • Route toward permanent residence and, later, naturalisation

Costs, fees and taxes

On the real-estate route, budget for the 5% state fee (minimum €12,500), notary fees (around 2%, minimum ~€5,000), an escrow charge and per-person processing fees, plus roughly €5,000 per renewal. The bank route carries a larger state fee (~€25,000). Latvia taxes residents on worldwide income, so tax residence should be planned carefully with local advice.

  • Real estate: 5% state fee (min €12,500) + notary (~2%) + escrow
  • Bank route: state fee around €25,000
  • Renewal fees around €5,000 per extension, plus ~€160 per person
  • Worldwide-income taxation for Latvian tax residents — plan carefully

Recent changes and restrictions

The decisive change is Latvia's new Immigration Law, in force from 15 September 2026, which abolishes the real-estate and bank-deposit investment routes and replaces them with a €50,000+ business route and a €150,000+ State Investment Fund route (each with a €10,000 state-budget payment). Applications submitted by 14 September 2026 are handled under the old rules. Russian and Belarusian nationals are barred from the investment routes. This mirrors the wider European move away from property schemes — Spain abolished its golden visa (effective 3 April 2025) and Portugal removed the property route (October 2023).

  • New Immigration Law from 15 September 2026 ends property & bank routes
  • Replacement routes: €50,000+ business and €150,000+ State Investment Fund
  • Applications by 14 September 2026 use the current rules
  • Russian and Belarusian citizens excluded
  • Wider context: Spain abolished its scheme (2025); Portugal dropped property (2023)

Frequently asked questions

  • The investment residence route still exists under the current Immigration Law, but 2026 amendments that would restructure it were approved by Parliament and then referred back for review; confirm the live rules with PMLP before applying.

Official sources

For the most accurate and up-to-date information, always refer to the official government sources.

Verified against official gov.uk sources · last reviewed 2026-09-14. Information only — not legal advice.

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