There are two common issues faced by investors wishing to obtain residency in Europe: the rapid increase in threshold investment amounts and the excessive “settlement obligation” created by the processes. Latvia Golden Visa (residency by investment) stands out in these two areas: The program is positioned as one of the most accessible residency options within the European Union, especially with a total budget of €60,000 through business investment.
In this guide, we comprehensively address the “business investment” route progressing with €50,000 company capital investment + €10,000 state fee in Latvia’s Residence by Investment program; the conditions, costs, tax and compliance obligations, application steps, and the inclusion of family members in the process from start to finish.
What is Latvia Golden Visa and who is it suitable for?
The Latvia Golden Visa allows non-EU/EEA/Swiss citizens to obtain a 5-year temporary residence permit by making certain types of investments in Latvia. This permit provides basic rights such as living, working, and studying in Latvia, as well as the convenience of visa-free travel in the Schengen area.
One of the most notable aspects of the program is the absence of a “requirement to live in Latvia every day.” In practice, an annual verification visit is expected to confirm that the investment is ongoing. In this respect, the program offers an attractive framework for investors who obtain residency in Europe and manage their businesses in different countries or live a mobile lifestyle.
Who can apply?
- Citizens of countries outside the EU/EEA/Switzerland
- Those with a clean criminal record
- Those who can document the legal source of the investment amount
- Those who can provide valid health insurance
- Those who can demonstrate that they can support themselves without burdening the Latvian social assistance system
Can dependent family members be included?
Yes. The program has a strong perspective on family reunification. Typically, the following family members can be added to the application within the same framework:
- Spouse
- Children under 18 years old
- Dependent parents/grandparents depending on conditions
Latvia Golden Visa with €60,000: The lowest budget business investment route
The lowest budget way to obtain residency through investment in Latvia is the business investment model, which progresses by investing capital in a company that meets certain criteria. In this model, the total minimum budget is formed as follows:
- €50,000 – investment of equity capital in a qualified company in Latvia
- €10,000 – state fee
While this route offers a lower investment threshold compared to alternatives like “real estate,” it requires more planning due to the operational and tax compliance aspects. The correct company structure, the source of the investment, and the sustainability of the company form the backbone of this application.
Which companies are considered “small companies”?
In the “small company” route, which progresses with a €50,000 capital investment, the general framework of the company is defined by the following criteria:
- Fewer than 50 employees
- Total turnover/balance sheet under €10 million
- As an economic contribution indicator, an expectation to pay at least €40,000 in taxes annually
- Limit of maximum 10 foreign investors per company
Important note: This route is not suitable for the “just invest money and step aside” approach. The company requires a genuine economic activity structure and proper accounting/payroll arrangements.
Alternative investment options (for comparison purposes)
Although the focus of this article is the €60,000 business investment route, there are other types of investments available in Latvia. The general framework for investors with different budgets is as follows:
- Large company investment: €100,000 capital + €10,000 state fee (for larger scale firms)
- Real estate: €250,000 and certain regional/cadastral conditions + additional public costs based on the purchase price
- Government bonds: €250,000 (total fees may increase depending on the model)
- Bank deposit / subordinated capital: around €280,000
In the overall picture, Latvia stands out with its “lowest investment threshold”; however, the need for passive/active management and the total cost can vary significantly depending on the type of investment.
Basic eligibility requirements: Income sufficiency and source of funds
In Latvia residency applications, two other important aspects are as crucial as the investment: sufficient financial capacity for living expenses and the legal source of funds. Commonly referenced annual maintenance fund amounts in the program are:
- Single applicant: €15,480 annually
- Applicant + spouse: €20,640 annually
- Couple + 1 child: €22,188 annually
On the source of funds side, it is critical to consistently prove the source of the money with documents such as bank statements, income documents, tax returns, and records of asset sales. Inconsistencies at this stage can directly affect the speed and outcome of the application.
Application process: Step by step Latvia Golden Visa
1) Structuring and completing the investment
The first step in the €60,000 route is to determine a company structure that meets the criteria in Latvia and to carry out the €50,000 capital investment in accordance with the procedure. Here, designs such as “whether the company is existing or newly established,” “whether the investment will be made in one go or in stages,” and “partnership structure and investor limit” are decisive.
2) Preparing the document set
The following documents typically stand out in the application file:
- Passport (usually expected to have at least 6 months of validity)
- Criminal record
- Health insurance
- Documents showing the investment (capital/partnership documents, company registrations, etc.)
- Proof of source of funds (bank statements, income and tax documents)
- Documents showing family ties for family members (marriage, birth records, etc.)
At this stage, compliance with translation, apostille, and document format standards reduces the risk of rejection.
3) Submitting the application and evaluation
Applications can proceed through online channels and/or foreign representations according to the procedure. Although evaluation times can vary in practice, a standard process is typically referenced as taking about 1–3 months. Additionally, accelerated evaluation options may be available:
- 10 days acceleration: €260
- 5 days urgent evaluation: €560
These fees affect only the pace of evaluation, regardless of the quality of the file; they do not eliminate eligibility criteria.
4) Entry into Latvia and residence card after approval
After a positive decision, entry into Latvia must be made within a certain period to complete the residence card (ID) processes. This step includes biometric procedures and official registrations.
5) Annual compliance and protection of the investment
The Latvia Golden Visa is not a “one-time” transaction. The protection of the investment for 5 years and the confirmation of the investment’s continuity year by year are expected. In the business investment route, this requires the continuity of the company’s actual operations, records, and tax compliance.
Cost breakdown: What does the €60,000 route actually cost?
While the minimum budget may seem transparent, it is essential to read the total cost correctly. The basic costs for the €60,000 route are:
- €50,000 – capital investment
- €10,000 – state fee
- €160–€560 – application/evaluation fee (depending on the selected acceleration option)
Therefore, in practice, it is more realistic to start from a minimum of €60,160+ level.
The critical item: The company’s annual tax obligation
The business investment route also tracks economic contribution through the “tax performance of the company.” In practice, the expectation for the company to pay at least €40,000 in taxes annually requires the investor to establish the business model correctly.
Tax and compliance: What can investors expect?
For investors obtaining residency through investment in Latvia, two separate headings need to be distinguished:
- Company taxes and operational compliance: regular management of obligations such as accounting, payroll, VAT/corporate tax
- Personal taxation: personal tax implications on income earned by the investor in Latvia (depending on the type of income, %20–%31 bands may come into play)
Tax residency, double taxation agreements, dividend policies, and payroll structuring are factors that determine the total cost of the investment. Therefore, starting with the “cheapest Golden Visa” approach and proceeding without planning the tax and compliance aspect can lead to unexpected costs later on.
What happens at the end of 5 years? Renewal, permanent residency, and citizenship perspective
The temporary residence permit is generally valid for 5 years and renewal is considered if the investment is protected. If considering permanent residency or citizenship at the end of 5 years, merely continuing the investment may not be sufficient; additional conditions (such as language proficiency) may come into play. Therefore, it is essential to provide a clear answer at the outset to the question of whether the goal is “just Schengen access” or “long-term living in the EU.”
Advantages of Latvia Golden Visa: Why this program?
- Low entry threshold: one of the most accessible options within the EU with a total budget of €60,000
- Opportunity for visa-free movement in Schengen (for short-term travels)
- Physical residency flexibility: generally focused on annual verification visits
- Possibility of applying with family
- Strategic location for business development and company establishment plans in the EU
Risks and considerations
The program being cost-effective does not mean it is “risk-free.” The most critical issues often include:
- Company selection and due diligence: unsuitable criteria or unsustainable company structures
- Tax and accounting compliance: the impact of annual tax expectations on the business model
- Source of funds documents: inconsistent explanations and missing documents
- Annual compliance processes: proving the continuity of the investment and official notifications
Corpenza approach: Transforming the investment into a sustainable structure rather than “residency”
The €60,000 business investment route in Latvia, while appearing simple on paper, requires the collaboration of company establishment, accounting, payroll, and international compliance disciplines in practice. Regular management of the company’s actual activities, tax obligations, and reporting is critical for the protection of the investment and the smooth progress of the renewal process.
Corpenza aims to ensure that the process is not “stuck in the application” but is managed sustainably over the 5-year period by addressing components such as company establishment structure, accounting and tax compliance, payroll, and, if necessary, foreign employment models under a single strategy. Professional support in such programs adds value not only for document preparation but also for establishing the correct economic structure behind the investment.
Conclusion: Residency in Latvia with €60,000 is possible, but proper planning is essential
The Latvia Golden Visa is a strong alternative for investors wishing to obtain residency in the EU with €50,000 capital investment + €10,000 state fee. Especially when combined with “physical residency flexibility” and “low entry threshold,” the program offers significant advantages.
However, in the business investment route, the determining factor for success is not just the investment amount. The company’s compliance with criteria, tax and operational compliance, proof of source of funds, and annual verification obligations are the real determinants of the process. Therefore, a well-structured company and compliance plan from the outset makes both cost and risk manageable in the long term.
Disclaimer
This content is for general informational purposes; it does not constitute legal, tax, or financial advice. Latvia’s residency program through investment and its application criteria may change over time. It is recommended to verify current regulations and official procedures before applying, as well as to seek professional advice for a situation-specific assessment.
