Residence permit, Visa, Citizenship

Residence permit in Latvia through real estate purchase - the fastest, simplest, and cheapest way to obtain an attractive investment object in a steadily developing country, as well as the ability to move freely across the EU countries.

Now foreign buyers, in exchange for investments, have the right to obtain a temporary residence permit and a Schengen visa for a period of 5 years, with the right to move freely across the EU and Schengen area countries, staying in Latvia for an unlimited amount of time.

• Relatively low entry threshold: the minimum investment in real estate is 250 thousand euros
• No obligation to reside in the country
• Issued to all family members
• Instant terms of consideration - from five days
• Issued for 5 years with the possibility of extension

• For non-EU residents: the ability to issue invitations to close relatives for a visa to Latvia
• Freedom of movement within the Schengen countries
• Simplified visa processing for England, Ireland, Canada and the USA

• Investor must purchase property in Latvia worth at least €250 000
• The cadastral value must be at least €80,000, or a market value assessment is required
• The property must be developed. Agricultural land or forest is not eligible
• No outstanding property tax debts.

• The transaction must be paid via non-cash payment
• A certificate of no criminal record from the country of citizenship or residence
• A proof of residence in Latvia

• Spouse of the foreign citizen
• Persons under their guardianship

• Their minor (and dependent) children

• State fee and consular fee for application processing
• Insurance costs

• Real estate purchase expenses

Business investment:

• From €50 000 for enterprises with fewer than 50 employees and an annual turnover not exceeding €10 million
• From €100 000 for enterprises with more than 50 employees and an annual turnover exceeding €10 million

Financial investments:

• Subordinated capital of credit institutions: minimum €280 000

Government bonds:

• Zero-interest government bonds: minimum €250 000...

Mercury Group specialists will assist with legal suppor, immigration issues, and will also provide a full package of concierge services for our investors.

After five years of residing in Latvia, a foreigner has the right to apply for permanent residence (PR). This status is granted for a lifetime and does not require renewal. The main requirements are continuous residence in Latvia, sufficient financial means, and proficiency in the state language at level A2.

There are exceptions, such as repatriates and children of Latvian citizens, who can obtain PR immediately.

Another five years of continuous residence in Latvia allows foreigners to apply for citizenship. This process involves passing a language and culture exam, demonstrating a legal source of income, and renouncing previous citizenship.

In total, the waiting period for obtaining a Latvian passport from the time of receiving the first residence permit is 10 years.