In this guide
- What the Latvia Golden Visa is
- The routes: one still open, three closed by the September 2026 law
- What Latvia residency actually gives you
- What the September 2026 law changed
- The path to permanent residency and citizenship, an honest picture
- Latvia vs. the other remaining EU golden visa programs
- Who the Latvia Golden Visa is right for; and who should look elsewhere
- How to apply, and where professional help matters
- What to weigh before deciding
Last updated: September 2026
Spain's Golden Visa closed in April 2025. Portugal's fund route now starts at €500,000. Greece's prime zones, Athens, Thessaloniki, the major islands, now require €800,000. In that context, Latvia's Latvia Golden Visa, which offers EU residency from €50,000, looks compelling. Applications surged 51% in 2025. Turkish nationals are among the largest applicant groups.
Most of the guides explaining why Latvia deserves a closer look are written by the firms processing those applications.
This guide covers what the program actually offers, what has changed in 2026, and the specific conditions that make Latvia genuinely suitable for some investors, and the wrong fit for others. The entry price is real. So are the complications.
Note: A new Immigration Law took effect on 15 September 2026. It closed the real-estate, government-bond and bank-deposit routes to new applicants and cut the surviving company-equity permit from five years to two. This guide reflects the rules from that date; applications filed by 14 September 2026 keep the old ones. Always verify current rules through official Latvian sources or a qualified immigration advisor before making any investment decisions.
What the Latvia Golden Visa is
The Latvia Golden Visa, formally the Latvian Residence Permit for Investors, is a temporary residency program that grants non-EU, non-EEA, and non-Swiss nationals a residence permit in exchange for a qualifying investment in the Latvian economy. Under the Immigration Law that took effect on 15 September 2026, that permit now runs two years for new applicants, down from five.
Latvia has run this program since 2010, making it one of the older investor residency programs in the EU. It is administered by the Office of Citizenship and Migration Affairs (OCMA). Applications are processed in Latvia, and the permit is issued as a physical residence card, renewed annually.
The program is real, it functions, and it has issued thousands of permits. The question is whether it does what a specific investor needs it to do.
The routes: one still open, three closed by the September 2026 law
Until 15 September 2026 Latvia offered four investment routes. The new Immigration Law closed the three passive ones, real estate, government bonds and bank deposit, to new applicants; the last day to file under the old rules was 14 September 2026. Only the company-equity route remains open, and it was always the most demanding, because it is the one that requires a genuine, taxpaying business.
Company equity investment (€50,000–€100,000), the only route still open
The headline route, and now the only one. An investor places at least €50,000 into the share capital of a Latvian company with fewer than 50 employees, €50,000 for a smaller company and €100,000 for a larger one, plus a one-time state fee of €10,000.
The part most guides skip: the Latvian company must pay a minimum of €40,000 per year in taxes to maintain the investor's eligibility. This is not a passive investment. The company must be an operating business generating real economic activity and meeting that tax threshold annually.
For a founder who is genuinely building a Latvian business, this route makes sense. For someone treating the money as a passive holding with no active company behind it, this route either doesn't qualify or requires significantly more engagement than the entry price suggests, and since 15 September 2026 there is no passive alternative left.
Real estate in Riga (€250,000+), closed 15 September 2026
No longer open to new applicants. While it ran, investors purchased residential or commercial real estate worth at least €250,000, plus a state fee of 5% of the property price, restricted in its final years to Riga and a 30-kilometre radius. Other locations did not qualify.
For commercial real estate outside that zone, the threshold was €500,000. The whole route closed to new applications on 15 September 2026.
Income requirement while it was open: €1,500 per month in demonstrable personal income.
Government bonds (€250,000), closed 15 September 2026
No longer open to new applicants. While it ran, interest-free bonds were held for a minimum of five years, plus a €38,000 government fee. The capital was returned at the end of the holding period. The fee was not.
Bank deposit (€280,000), closed 15 September 2026
No longer open to new applicants. While it ran, a deposit in a qualifying Latvian bank or credit institution was held for five years. Income requirement: approximately €500 per month.
A new €150,000 investment-fund route is written into the 2026 law as an eventual replacement for the passive options, but it is not yet operational, no state fund manager has been appointed, so in practice it cannot be used today.
| Route | Minimum investment | State fee | Status from 15 Sept 2026 |
|---|---|---|---|
| Company equity | €50,000–€100,000 | €10,000 | Open; company must pay €40K+/year in taxes |
| Real estate (Riga) | €250,000 | 5% of price | Closed to new applicants |
| Government bonds | €250,000 | €38,000 | Closed to new applicants |
| Bank deposit | €280,000 | — | Closed to new applicants |
| Investment fund | €150,000 | — | Legislated, not yet operational |
For investors evaluating EU residency options: Latvia sits alongside Greece, Portugal, and Malta in the EU investment residency landscape. Each program has different entry thresholds, citizenship pathways, and lifestyle requirements. Our [Portugal Golden Visa guide] and [Greece Golden Visa guide] cover those programs in detail, reading them alongside this article will give you a clearer picture of the trade-offs.
What Latvia residency actually gives you
Schengen access: Latvia is part of the Schengen Area. A Latvian residence permit allows visa-free entry to all 29 Schengen countries and stays of up to 90 days within any 180-day period outside Latvia.
No minimum stay requirement: Investors are not required to spend a minimum number of days in Latvia to maintain their residence permit. An annual visit to confirm ongoing investment is required, but Latvia does not require investors to live there.
Two-year permit (from 15 September 2026): For applications filed on or after 15 September 2026 the residence permit runs two years, down from five. Applications filed by 14 September 2026 keep the old five-year permit. The physical ID card is renewed annually in either case.
Family inclusion: Spouse, children under 18, financially dependent adult children, and financially dependent parents can all be included under the same application.
Work and study rights: Permit holders can work and study in Latvia without separate authorisation.
Financial self-sufficiency threshold: Main applicant must demonstrate approximately €500 per month in income on the company route; approximately €150 per month per minor dependent. (The €1,500-a-month figure that circulates applied to the real estate route, which closed on 15 September 2026.)
Consider Elif, a freelance UX designer based in Istanbul. After Spain's Golden Visa closed, she researched Latvia as a route to Schengen flexibility, she has clients in Germany, France, and the Netherlands and was spending increasing amounts of time managing visa applications. The Latvia Golden Visa company route at €50,000 looked straightforward. When she dug into the requirements, she discovered the €40,000 annual tax threshold. Her freelance income doesn't flow through a Latvian company. To qualify, she would need to restructure her business around a Latvian entity that generates enough taxable revenue to meet that threshold, not a passive investment at €50,000, but an active business pivot. She ended up evaluating the Greece Golden Visa instead, where the €250,000 real estate route is genuinely passive.
Her situation isn't unusual. The €50,000 headline attracts significant attention. The operating requirement filters out most of the people it initially attracts.
What the September 2026 law changed
A new Immigration Law took effect on 15 September 2026 and reshaped the program in three ways.
The passive routes closed
Real estate, government bonds and bank deposit are no longer open to new applicants; the last day to file under the old rules was 14 September 2026. The company-equity route is the only one still accepting applications, and a €150,000 investment-fund route is legislated but not yet operational.
Stricter permanent-residency documentation
Entrepreneurs and self-employed persons seeking permanent residency must now provide a business plan in Latvian or English, financial forecasts for the next 24 months, and proof of at least €14,000 in startup capital in a Latvian bank account.
Spouse language requirement: From 2026, spouses applying for permanent residency alongside the main investor must demonstrate Latvian language proficiency at A1 level.
The permit dropped from five years to two
New applicants on the company route now receive a two-year permit instead of five. This was pending for much of 2026 and became law on 15 September.
Anyone who filed a complete application by 14 September 2026 keeps the old five-year permit and the old route options. That window has now closed; from 15 September the two-year permit and the company-only route are the rule.
The difference between a five-year and a two-year initial permit affects your planning horizon, so it is worth understanding exactly which rules your application falls under.
The path to permanent residency and citizenship, an honest picture
Permanent residency
After five years on an investor residence permit, you can apply for permanent residency in Latvia. This requires:
- Physical presence: Four out of five years must be spent in Latvia, with at least 183 days per year. Absences cannot exceed six consecutive months or 12 months total over the five-year period.
- Language test: A2 Latvian language proficiency, tested by official examination.
- From 2026: Additional documentation requirements for entrepreneurs (see above).
Latvian is not a forgiving language to learn at the A2 level for non-European speakers. It is one of the most archaic members of the Indo-European language family, with complex grammar and significant learning time. This requirement is not window-dressing, it is a substantive barrier for many investors who entered the program primarily for Schengen access and have no intention of living in Latvia long-term.
Citizenship
Latvian citizenship is available after 10 years of qualifying residency (five temporary, five permanent). The requirements are:
- Continued physical residency in Latvia during the permanent residency period
- Latvian language proficiency (higher than A2, full conversational level)
- Latvian history and constitutional knowledge test, including the national anthem
- Renunciation of prior citizenship (with limited exceptions)
The dual citizenship exception list is specific: EU and EFTA member states, NATO member countries, Australia, Brazil, and New Zealand. Turkey is a NATO member, which puts Turkish nationals on the list. That means Latvia does not require a Turkish citizen to give up their Turkish passport in order to naturalise, one of the few EU citizenship routes where that holds.
For Atlasway's primary audience, Turkish professionals researching international mobility options, this is the most important fact in this entire article, and competitor coverage consistently gets it wrong, often listing Turkey among the nationalities that must renounce. They are not. If your goal is an eventual European passport while keeping your Turkish one, Latvia's citizenship pathway does not stand in the way; the real barriers are the language and the years of residence, not renunciation.
Latvia vs. the other remaining EU golden visa programs
Spain closed in April 2025. Portugal requires €500,000 for fund investment or €250,000 for cultural donations (real estate no longer qualifies). Greece starts at €400,000 for regional properties and €800,000 in Athens and major islands. That leaves Latvia, Malta, Hungary, and a handful of smaller programs as the remaining EU investor residency routes.
| Program | Min. investment | Dual citizenship | Language for citizenship | Citizenship timeline |
|---|---|---|---|---|
| Latvia | €50,000+ (company) | Limited; includes Turkey (NATO) | Required (Latvian, complex) | 10 years |
| Greece | €250,000 (regional real estate) | Yes | Required (Greek, mandatory 7-year residency) | 7 years |
| Portugal | €500,000 (fund) | Yes | Required (Portuguese, manageable) | 7 years |
| Malta | €150,000+ (donation) | Yes | No exam | 3 years (with conditions) |
Latvia wins on entry cost. On almost every other dimension relevant to long-term planning, dual citizenship, citizenship timeline, language complexity, other programs offer more.
That doesn't make Latvia wrong. It makes Latvia the right answer to a specific question: "I want EU/Schengen residency at minimum cost, and I'm not currently planning to pursue European citizenship." For that profile, Latvia is genuinely hard to beat.
Who the Latvia Golden Visa is right for; and who should look elsewhere
Good fit
Investors who want Schengen access and EU residency without immediate citizenship plans: The program delivers both at a lower entry cost than any comparable EU alternative. If the goal is freedom of movement and a legally established EU residency, not a passport, Latvia does this efficiently.
Business owners who can genuinely operate a Latvian company: The €50,000 company route is real value for a founder who has (or can build) an operational Latvian entity generating €40,000+ annually in tax contributions. The residency comes with genuine business infrastructure.
Investors from countries where dual citizenship is not an issue: Nationals of EU/NATO member states, Australia, Brazil, and New Zealand can pursue Latvian citizenship without losing their existing passport. Turkey, as a NATO member, is on that list, an important and frequently misreported point for Turkish applicants. For these nationals, Latvia's 10-year path is a viable long-term strategy.
Families seeking EU residency for education or lifestyle: No minimum stay requirement, full family inclusion, and the most affordable EU residency entry point available. For a family that wants access to EU residency without committing to relocation, Latvia is worth serious consideration.
Not the right fit
Anyone who needs a fast route to citizenship: Latvia's citizenship timeline is ten years, with a real Latvian-language requirement and years of physical presence. If a second passport on a shorter clock is the objective, Portugal or a Caribbean citizenship-by-investment program gets there sooner. One correction worth stating plainly: renunciation is not the obstacle for Turkish nationals, Turkey sits on Latvia's dual-citizenship exception list as a NATO member; the obstacle is time, language and presence.
Anyone unwilling or unable to meet the language requirement: A2 Latvian is required for permanent residency. There is no workaround. Latvian is a genuinely difficult language for Turkish and most non-Slavic speakers. If language learning is not part of the plan, permanent residency in Latvia is not available to you, only the initial two-year permit.
Investors treating the €50,000 company route as passive: The company must pay at least €40,000 per year in Latvian taxes. This requires an active, revenue-generating business operating in Latvia. It is not a parking mechanism for €50,000.
Anyone planning to spend most of their time in their home country: The investor permit has no minimum stay requirement, but the path to permanent residency requires four years of physical presence. If the long-term goal is permanent residency or citizenship, the lifestyle commitment is significant. Entering the program without understanding this leads to incomplete outcomes.
US citizens relying on Latvian residency for tax relief: US citizens are taxed on worldwide income regardless of residency. Latvian residency does not affect US tax obligations.
How to apply, and where professional help matters
The Latvia Golden Visa process, simplified:
- Choose an investment route, based on budget, activity level, and goals outlined above
- Make the qualifying investment, property purchase, company formation, or bank deposit
- Gather documentation, passport, criminal record certificate, financial self-sufficiency evidence, investment confirmation
- Submit application to OCMA, Latvia's Office of Citizenship and Migration Affairs
- Attend appointment in Latvia, biometric data collection, identity verification
- Receive residence permit, typically 2–3 months from complete application submission
Where you can self-assess: Which route matches your budget and activity profile. Whether the no-minimum-stay structure fits your lifestyle. Whether the citizenship path is relevant to your goals. Whether the dual citizenship rules affect you (for many NATO nationals, Turkey included, they are more favourable than commonly reported).
Where professional guidance is worth the cost: Whether your application falls under the pre- or post-15-September 2026 rules, which determines your permit length and which routes are available. The language and presence requirements for permanent residency. And structuring a Latvian company that genuinely meets the €40,000-a-year tax threshold.
If you're ready to explore Latvia Golden Visa applications with vetted partners, [Atlasway's partner referral service] connects you with qualified Latvian immigration advisors, after helping you confirm the program fits your situation first.
What to weigh before deciding
Latvia Golden Visa is not a complicated program to understand, but it is frequently misrepresented. The €50,000 entry point attracts investors who are then surprised by the operating requirements of the company route, the language barrier for permanent residency, or the dual citizenship rules for citizenship.
Three questions worth answering before engaging any formation or immigration service:
- Is Schengen access and EU residency the goal, or is a European passport the actual objective? These require different programs for most nationalities.
- Am I genuinely building a Latvian business, or am I looking for a passive investment vehicle at the lowest threshold? The company route is only the former.
- Have I understood the dual citizenship rules for my specific nationality? For Turkish nationals the answer is favourable, Turkey is on Latvia's exception list as a NATO member, but confirm it for your own case before committing time and money.
For further reading: our [Portugal Golden Visa guide] covers the EU's most established residency path. If citizenship by investment on a faster timeline is the goal, our [Caribbean citizenship programs overview] covers the Grenada, St. Kitts, and Dominica options that deliver a second passport without renunciation requirements.
Disclaimer: The information in this guide is for research and educational purposes. It does not constitute legal or tax advice. Latvia's residency investment program was substantially amended by the Immigration Law effective 15 September 2026, and requirements may change further. Always verify current requirements with a licensed immigration advisor and the official OCMA portal before taking action.
Sources: Latvian Office of Citizenship and Migration Affairs · Lex & Finance — 2026 Latvia residency rule changes · IMI Daily — Latvia Golden Visa program overview
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