Latvia Golden Visa

In addition to the main investment, the investor’s expenses include:

• residence permit application processing fee — at least €160;
• biometric data collection fee — at least €45;
• chest X-ray — at least €45;
• translator and notary services — at least €1,000.

Each investment option sets a state fee, which is paid once the investor receives approval. The amount depends on the selected option and starts at €10,000.

Prospects for permanent residence and Latvian citizenship

Investors may obtain permanent residence in Latvia after maintaining their status for 5 years. At the same time, they need to live in the country for at least 8 months during four of the last 5 years. The applicant also confirms knowledge of the Latvian language at A2 level, as well as Latvian history and culture.

The permanent residence card is renewed every 5 years.

Foreign nationals may apply for Latvian citizenship after 10 years of living in the country: 5 years with a temporary residence permit and 5 years with permanent residence.

An applicant for citizenship by naturalisation must meet the following requirements:

• over 15;
• no criminal record;
• no tax debts in Latvia;
• knowledge of the Latvian language;
• stable income;
• knowledge of the Latvian national anthem, and the basics of the country’s history, culture, and law.

Latvia does not generally allow second citizenship. An exception applies to citizens of Australia, Brazil, New Zealand, as well as citizens of the European Union, the European Free Trade Association, and NATO member states.

Taxes in Latvia

A foreign national becomes a tax resident if they live in Latvia for more than 183 days a year or register their place of residence in the country.

As a non-resident, an investor pays tax only on income earned in Latvia.

Property owners pay property tax annually or quarterly. The rate depends on the municipality and ranges from 0.2 to 3% of the property’s cadastral value.

Personal income tax is calculated on a progressive scale from 25.5 to 33%. It is levied on employment income, rental income, as well as pensions, gifts, and dividends. At the same time, Latvia sets a tax-free minimum of €510 per month.

Corporate tax is charged at a rate of 20%. Company profits reinvested in business development are not taxed.