Latvia’s New Immigration Law (2026): Which Investment Routes Are Closing?

Latvia’s residency by investment program (commonly known as the “Golden Visa” system) has been one of Europe’s most cost-effective and fastest residency-by-investment options since 2010. However, 2026 marks a turning point for the future of the program: The Latvian Parliament (Saeima) adopted a new Immigration Law, but after the President returned the process to parliament for a second review, the reforms were suspended to be reconsidered in the autumn session.

In this comprehensive guide, we cover the current legal developments in 2026, the rules still in force, the proposed radical changes, what they mean for investors, and critical legal points to watch out for.

Brief History and Background of the Program

When the Latvia Golden Visa program was launched in 2010, it attracted intense interest, particularly from Russian citizens. Given the current geopolitical context, the fact that 64.7% of the 21,081 applications received since the program’s inception belong to Russian citizens is considered a serious security risk for Latvia. Therefore, after 2016, the participation of Russian and Belarusian citizens in the program was completely banned.

On the other hand, investigations conducted by the Latvian Financial Intelligence Unit (FIU) revealed that more than 20 local companies mediated fictitious investments to obtain residency permits, and the total value of these fictitious investments, involving approximately 200 foreign nationals, exceeded €10 million. Additionally, the Latvian State Security Service (VDD) has revoked the residency of over 30 Golden Visa holders for security reasons since 2022. All these security concerns have formed the primary rationale for the comprehensive reform debates in 2026.

The Legislative Process in 2026: What Happened?

• June 11, 2026: The Saeima adopted a new Immigration Law to replace the existing immigration legislation with 65 votes to 17.
  
  
• June 19, 2026: President Edgars Rinkēvičs returned the law to parliament without approval, citing uncertainties regarding investment and security audits as well as procedural provisions.
  
  
• Current Status: With the closure of the spring session, the re-voting and shaping of the law have been left to the autumn period. Therefore, before the new law enters into force, the current legal framework remains valid.
  
  

Rules Currently in Force (As of Late 2026)

Until the new law is approved and officialized, investors can apply through the following existing routes:

• Company Investment: Capital investment of at least €50,000. It is the lowest cost and most preferred option of the program (according to OCMA data, the vast majority of residency permits issued in 2025 came from this route, showing a 51% increase compared to the previous year).
  
  
• Real Estate Investment: Purchase of real estate valued at least €250,000 across Latvia (plus a state fee of 5% of the investment amount). The fact that 80% of past screenings in 2024 targeted real estate buyers was influential in putting this route on the table.
  
  
• Bank Deposit: Subordinated capital investment of at least €280,000 with a 5-year maturity in Latvian banks.
• Abolished Routes: With a regulation issued on May 20, 2026, the €250,000 limited government bond route was completely abolished.
  
  

What Do the Proposed New Rules Bring?

If the bill, which will be re-voted in the autumn, is adopted, the following changes are projected to enter into force as of January 1, 2027:

• Elimination of Passive Routes: Real estate investment and bank deposit routes will be completely removed from the law.
  
  
• New State Fund Route: A capital investment of at least €150,000 into an alternative investment fund to be established by the state, along with an additional non-refundable (grant) state contribution payment of €10,000, will be introduced. It will be mandatory to maintain the fund for 5 years.
  
  
• Strict Audit on Company Investment: While the €50,000 capital requirement for companies with fewer than 50 employees and a turnover of under €10 million is maintained, the requirement that the company must pay at least €40,000 in taxes per year will be audited much more strictly. Additionally, reducing the initial residence card duration from 5 years to 2 years is being debated in the commissions.
  
  
• Language and Document Requirement: While first-time applicants can submit their documents in English, those wishing to renew their cards or obtain permanent residency are required to submit their documents in Latvian.
  
  

What Does It Mean for Investors?

Strategic Timing Window: The current period of uncertainty presents a final window of opportunity for investors wishing to evaluate passive routes—such as real estate or bank deposits—that are projected to be completely abolished. Applications submitted before the law officially enters into force (prior to the autumn votes and the January 1, 2027 transition schedule) are expected to be subject to existing rules (under the grandfathering principle).

Changing Dynamics for Corporate Investors: Although the €50,000 corporate partnership route is retained in the law, the possibility of reducing the initial card duration to 2 years and the strict auditing of the annual €40,000 tax performance make it mandatory for investors to stay away from paper-based (fictitious) structures and focus on operationally active companies conducting real commercial activities.

Increasing Compliance Pressure: Security screenings and source of funds reviews by Latvian authorities (OCMA and VDD) are at an all-time high. It is not enough for investors to simply invest capital; the legitimacy of their funds and the economic substance of the companies are meticulously examined. Therefore, it is of vital importance that processes are carried out accompanied by professional law firms.

As Golden Visa Solutions, along with our local partner lawyers and expert team in Latvia, we are by your side to complete your application in the safest, most complete, and fastest way before this historic legislative change enters into force.