Latvia Golden Visa Update: €50,000 Business Investment Now The Sole Route To EU Residency

Latvia has closed the real estate route to its Golden Visa Program, leaving the €50,000 business investment as the main option for investors seeking residency in the country.

The change follows amendments to Latvia’s immigration law that entered into force on 15 September 2026. The €250,000 property option, along with the €280,000 bank deposit route, is no longer available to new applicants. The same amendments reduced the validity of new residence permits from five years to two.

What Has Changed

Investors could previously qualify for Latvian residency by purchasing property worth at least €250,000 and paying a 5% state contribution of €12,500. That route has now been withdrawn, as has the bank deposit route, which required a €280,000 deposit and a €25,000 contribution.

The remaining routes are investment in a Latvian company or the purchase of government bonds. Investment in a small or medium-sized company starts at €50,000, investment in a large company starts at €100,000, and the bond option requires €250,000 plus a €38,000 state fee.

Residence permits issued from 15 September are now only valid for two years rather than five. In return, the annual renewal of the physical residence card has been removed. Applicants previously held a five-year residence right but had to renew their card in Latvia every year. Under the new system, the permit runs for two years without any interim renewal, and can then be extended for a further two-year period.

The government originally scheduled the amendments for 1 January 2027, but brought the date forward to 15 September during the final reading. Applicants who submitted before that date retain the right to a five-year permit under the old rules.

How The €50,000 Route Works

The Latvia Golden Visa requires an investment of €50,000 into the share capital of an existing Latvian small or medium-sized company, plus a €10,000 state contribution paid after a positive decision. Qualifying companies must employ fewer than 50 people, have annual turnover or balance sheet below €10 million, and pay at least €40,000 a year in tax.

Approvals are typically issued within 60 to 90 days. The main applicant, their spouse and dependent children under 18 can be included in a single application, and family members are able to live, work and study in Latvia, with children able to access free public education.

Physical presence requirements are minimal. One visit is needed for biometrics and card collection, followed by one visit a year. Permit holders can travel visa free within the Schengen Area for up to 90 days in any 180-day period.

Permanent residency can be applied for after five years of residence, and it is possible to apply for citizenship after ten years, subject to residency and language requirements. Once an investor reaches five years of residence, a one-off €2,000 state payment applies on renewal, provided the application is filed within 90 days of the previous permit’s expiry and the investment remains unchanged.

At €60,000 in total, the Latvia Golden Visa remains the lowest-cost residency by investment program in the European Union.

Real Estate Routes Are Disappearing Across Europe

Latvia is the latest EU country to remove property from its Golden Visa Program. Portugal ended its real estate option in October 2023, Spain closed its Golden Visa entirely in April 2025, and Ireland and the Netherlands wound their programs down in 2023 and 2024 respectively.

Greece is now the only EU country still offering a Golden Visa through direct property purchase. The Greece Golden Visa has three investment tiers: €250,000 for qualifying commercial-to-residential conversions and restoration projects, €400,000 in most regions, and €800,000 in Athens, Thessaloniki and the larger islands.

The Greek permit is issued for five years and is renewable for as long as the investment is held, with no minimum stay requirement. For investors who were considering Latvia’s property route at the €250,000 level, Greece offers the same entry price with a five-year permanent residency permit rather than a two-year renewable one.

Elsewhere in the EU, the Portugal Golden Visa and Hungary Golden Visa both operate through fund investment, and the Malta Permanent Residence Program combines a property lease or purchase with a government contribution.

Which Route Fits You

Latvia now offers a single, streamlined route to EU residency at the lowest entry point in Europe, and the new two-year permit removes the annual card renewal that previously required a trip to Riga. For investors who want to hold property rather than invest in a business, the Greece Golden Visa is the clear alternative at the same €250,000 starting point.

La Vida’s expert advisers work with both programs and can help you decide which suits your goals. Get in touch to discuss the Latvia Golden Visa, the Greece Golden Visa, or the wider range of European residency options available in 2026.

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