Latvia’s residence-by-investment programme, widely known as the Latvia Golden Visa, had been one of the most affordable residence options in Europe since 2010. The new Immigration Law (Imigrācijas likums), in force since 15 September 2026, changed the programme fundamentally:
- The property and bank deposit routes to a residence permit closed to new applications.
- The company capital route continues, under stricter conditions.
- A new €150,000 state fund route was added to the law.
This article explains how the law was adopted, the old and new rules, the transition rules for current permit holders and what the change means for investors.
Why Did the Law Change?
When the Latvia Golden Visa started in 2010, it attracted most interest from Russian citizens. Of the 21,081 applications filed since the programme began, 64.7% came from Russian citizens. In the current geopolitical situation, this was seen as a security risk for Latvia.
Investigations by Latvia’s Financial Intelligence Service (FIS) found that more than 20 local companies had brokered fictitious investments for residence permits. About 200 foreign nationals were involved, and the total value exceeded €10 million. Latvia’s State Security Service (VDD) has also revoked more than 30 residence permits on security grounds since 2022. These concerns were the main reason for a reform that closed the passive investment routes and tightened the company route.
How Was the Law Adopted? Timeline
- 20 May 2026: The €250,000 government bond route was removed.
- 11 June 2026: The Latvian Parliament (Saeima) adopted the new Immigration Law.
- 19 June 2026: President Edgars Rinkēvičs returned the law to Parliament for reconsideration.
- 20 August 2026: The Saeima adopted the law again.
- 15 September 2026: The new Immigration Law came into force. The property and bank deposit routes closed to new applications.
Latvia Golden Visa: old and new rules
| Topic | Previous law | New law (from 15 September 2026) |
|---|---|---|
| Real estate (€250,000) | Open; plus a 5% state fee | Closed No new applications from 15 September 2026 |
| Bank deposit (€280,000) | Open, 5-year term | Closed No new applications from 15 September 2026 |
| Government bonds (€250,000) | Removed on 20 May 2026 | None |
| Company investment (€50,000 / €100,000) | Open; €10,000 state payment | Open Same amounts; the company pays at least €40,000 / €100,000 in tax a year |
| Permit term on the company route | Up to 5 years | Up to 2 years, renewable |
| State investment fund (€150,000) | Did not exist | New €150,000 (at least 5 years) + €10,000; fund not yet established |
| Annual permit registration | Required every year | Abolished |
| Document language | English accepted | English for first applications; Latvian for renewals |
| Russian and Belarusian citizens | Restricted | Expressly excluded from the company and fund routes |
Applications filed by 14 September 2026 are assessed under the previous law. Existing residence permits remain valid until they expire.
Which Investment Routes Have Closed?
- Real estate (€250,000): You can no longer apply for a residence permit by buying property. Buying a home in Latvia is now an investment and rental income decision. Details: Buying Property in Latvia
- Bank deposit (€280,000): The route based on a 5-year capital investment in a Latvian bank has also closed.
- Government bonds (€250,000): This route was removed on 20 May 2026, before the new law.
Which Routes Are Open?
- Company investment (€50,000): A capital investment in a company with no more than 50 employees and turnover or a balance sheet of no more than €10 million, plus a €10,000 state budget payment. The company must pay at least €40,000 in tax every year. The permit is now issued for up to 2 years instead of up to 5, and it is renewable. Up to 10 foreign investors can rely on the same company.
- Larger company investment (€100,000): €100,000 in capital plus a €10,000 state payment for larger companies. The annual tax requirement is €100,000.
- State investment fund (€150,000): Added by the new law. €150,000 held for at least 5 years plus a €10,000 state payment is planned to give a permit of up to 5 years. The fund has not been set up yet; the route will open once it is.
For all current requirements and costs: Latvia Golden Visa
What Happens to Current Permit Holders?
- Earlier applications: Applications filed by 14 September 2026 are assessed under the previous law.
- Existing permits: Permits valid today remain valid until they expire.
- Property and deposit investors: They can request a new permit of up to 5 years if they still hold the investment and apply while their current permit is valid. This transition may involve an additional state budget payment of up to €5,000 in total, including earlier payments.
- Annual registration: The requirement to register the permit every year has been abolished.
- Documents: English documents are accepted for first applications. Renewals require documents in Latvian.
- Renewal deadline: A renewal application must be filed no later than 90 days after the previous permit expires. A later application, or a change of investment, is treated under first-time conditions.
What Does It Mean for Investors?
- The era of passive investment is over: A residence permit in Latvia now depends on real economic activity. Because of the €40,000 annual tax requirement, choosing an active, profitable company is the most important step of the application.
- More frequent renewals: With permits issued for up to 2 years, the investment and the tax requirement must be documented every term.
- Stricter checks: The Latvian authorities (OCMA and VDD) have stepped up security screening and source-of-funds checks. The legal source of funds and the company’s real activity must be fully documented. That is why it matters to work with lawyers who know Latvian immigration law.
- Greece for residence through property: Among European options that grant residence through property, Greece stands out. Depending on the region, the options are a single home worth €400,000 or €800,000, or a €250,000 conversion project. Details: Greece Golden Visa
At Golden Visa Solutions, together with our partner lawyers in Latvia, we help you plan a company investment application that meets the new law.
Frequently Asked Questions
Has the Latvia Golden Visa closed?
Not entirely, but it has changed. From 15 September 2026, the real estate and bank deposit routes are closed to new applications. A residence permit is still available through a capital investment of at least €50,000 in a company.
When did Latvia’s new Immigration Law come into force?
On 15 September 2026. The law was adopted on 11 June 2026, the President returned it to Parliament on 19 June, and the Saeima adopted it again on 20 August 2026.
Which investment routes are valid now?
The company investment route: €50,000 for small companies or €100,000 for larger ones, with a €10,000 state payment in both cases. The €150,000 state fund route is in the law, but the fund has not been established yet.
Can I get a residence permit in Latvia by buying property?
No. From 15 September 2026, new residence permit applications through real estate investment are not accepted.
What happens to current permit holders?
Existing permits remain valid until they expire. Those who obtained permits through property or deposits can request a new permit of up to 5 years if they still hold the investment and apply while their current permit is valid.
What changed on the company investment route?
The investment amount stayed the same. However, permits are now issued for up to 2 years, the company’s annual tax requirement of at least €40,000 is strictly checked, and renewal documents must be in Latvian.
Is the €150,000 state fund route active?
No. It is in the law, but the fund has not been set up yet. The route will open for applications once the fund is established.
Can Russian and Belarusian citizens apply?
No. The new law expressly excludes Russian and Belarusian citizens from the company and fund routes.
What is the most common mistake in applications?
Insufficient proof of the source of funds, missing or non-apostilled documents, and company structures with no real activity. These lead directly to refusal or revocation of the permit. The file should be prepared with lawyers who know Latvian immigration law.
