The Latvian Golden Visa: An affordable path to eu residency
August 7th, 2024
Introduction
In an increasingly interconnected world, the appeal of global mobility and access to diverse markets has never been greater. For those seeking residence in the European Union (EU) through investment, Latvia offers one of the most affordable routes. The Latvian Golden Visa Program provides an efficient and cost-effective pathway to EU residency, making it one of the most economical choices among investors worldwide.
What is the Latvian Golden Visa Program?
The Latvian Golden Visa Program, officially known as the Latvia Residence by Investment Program, was launched in 2010. This program allows non-EU nationals to obtain temporary residence permits in Latvia by making a qualifying investment in the country. In return, investors and their families gain the right to live, work, and study in Latvia, with the added benefit of visa-free access to the Schengen Area.
The Most Affordable Route to EU Residency
The Latvian Golden Visa Program stands out as the most affordable route to EU residency through investment. Here’s why:
Lowest Investment Thresholds: Compared to other EU countries, Latvia offers significantly lower investment requirements. This makes it accessible to a broader range of investors, ensuring that obtaining EU residency is within reach for many.
Flexible Investment Options: Investors can choose from various investment avenues based on their preferences and financial capacity, all while benefiting from Latvia’s competitive investment thresholds.
Costs of the Latvian Golden Visa Program
The Latvian Golden Visa Program provides several investment options, each designed to cater to different investor preferences and financial capacities:
Real Estate Investment:
Minimum investment of €250,000 in real estate located outside the capital city, Riga.
Minimum investment of €500,000 in real estate within Riga.
2. Bank Deposit:
Minimum deposit of €280,000 in a Latvian bank for a fixed term of five years.
3. Business Investment (Most Affordable Option):
Minimum investment of €50,000 in the equity capital of a Latvian company if the company employs up to 50 people and has an annual turnover or balance sheet of up to €10 million.
Minimum investment of €100,000 in the equity capital of a Latvian company if the company employs over 50 people and has an annual turnover or balance sheet exceeding €10 million.
Additionally, there is a one-time state fee of €10,000 for processing the residence permit application, further underscoring the program’s cost-effectiveness.
Benefits of the Latvian Golden Visa Program
The Latvian Golden Visa Program offers numerous benefits to investors and their families:
Unparalleled Affordability: With the lowest investment thresholds among EU residency programs, Latvia’s Golden Visa Program ensures that EU residency is accessible to a diverse range of investors.
Access to the Schengen Area: Latvian residence permit holders can travel visa-free to all 26 Schengen countries, providing unparalleled mobility within Europe.
Family Inclusion: The program extends to eligible dependents, including the investor’s spouse, children under 18, and dependent children over 18 who are financially dependent on the investor.
Pathway to Permanent Residence and Citizenship: After five years of temporary residence, investors can apply for permanent residence. Additionally, after ten years of residence, investors may become eligible to apply for Latvian citizenship.
High Quality of Life: Latvia boasts a high standard of living, with excellent healthcare, education, and infrastructure. Its rich cultural heritage, natural beauty, and vibrant cities make it an attractive destination for families.
Eligible Dependents
The Latvian Golden Visa Program recognizes the importance of family unity and allows investors to include their dependents in the application. Eligible dependents include:
Spouse: The legal spouse of the primary applicant.
Children under 18: All children under the age of 18 are automatically eligible.
Dependent Children over 18: Children over 18 who are financially dependent on the primary applicant can also be included, provided they meet certain criteria.
Conclusion
The Latvian Golden Visa Program stands out as the most affordable route to obtaining EU residency through investment. Its lower investment thresholds, coupled with the benefits of EU mobility and family inclusion, make it the most economical option for global investors.
For those ready to embark on a new journey, the Latvian Golden Visa Program opens the door to vast opportunities in Europe.
Click Here to get more information on the Latvian residence by investment program
Click Here to schedule a free personal consultation with one of our expert advisors