For entrepreneurs, investors, and senior professionals looking for an affordable, flexible residence permit that also grants Schengen free movement rights within the European Union, the Latvia Golden Visa (residence by investment) program still offers a strong option as of 2025. In this article, I will discuss the Latvia Golden Visa residence permit application process, compliance obligations, and how to integrate it into your global mobility strategy step by step. I will also provide concrete examples of how Corpenza can position your business establishment, residence, and workforce solutions in Europe side by side.
Basic Structure of the Latvia Golden Visa and Legal Framework in 2025
Legal basis of the program and its current status
The Latvia Golden Visa program is designed for non-EU investors to obtain a temporary residence permit (temporary residence permit – TRP) in Latvia. The program grants residence rights in exchange for investment through company capital, real estate, or financial instruments. Applications are evaluated by the Office of Citizenship and Migration Affairs (OCMA).
You can follow the official application and document requirements through the migration page of the Latvian authorities: OCMA (PMLP) – Citizenship and Migration Affairs.
Rights obtained with the Golden Visa
An approved Latvia residence permit through investment provides the following rights for you and your family:
- Visa-free travel in the Schengen Area for up to 90 days within 180 days
- Opportunity to live, study, and work in Latvia (through a local employer or your own company)
- Possibility to include spouse and children under 18 in the same application
- Permanent residence (PR) after 5 years, possibility to apply for citizenship after 10 years (with language and integration requirements)
The program does not grant citizenship directly; it follows a gradual residence – permanent residence – citizenship model. Therefore, it would be more realistic to position Latvia as an “EU access hub” in your global mobility strategy.
Who becomes a strategic tool for?
The following profiles use the Latvia Golden Visa particularly efficiently:
- Technology entrepreneurs wanting to establish a company in Europe and employ remote teams
- Investors looking to optimize tax, investment, and residence balance in the EU
- Senior professionals living in non-EU countries seeking educational/living flexibility for their families
- UK citizens wanting to regain mobility within the EU in the post-Brexit period
Eligibility Criteria: Conditions for Investors, Entrepreneurs, and Family Members
Basic personal conditions
To apply for the Latvia Golden Visa, you must meet the following minimum requirements:
- You are over 18 years old and not an EU/EEA/Swiss citizen
- You have a criminal record without serious offenses (apostilled criminal record)
- You have a valid passport (at least 6 months validity)
- You have health insurance covering Latvia and Schengen
- You have legal income and savings that you can document
Latvia operates in compliance with EU anti-money laundering (AML) and sanction legislation. Therefore, you need to clearly present the source of funds with bank statements, contracts, sales transfers, dividends, or salary documents.
Including family members in the application
The program allows you to gather your immediate family in a single file. Generally, the following profiles can be included:
- Spouse (marriage certificate apostilled and translated)
- Children under 18 (birth certificate apostilled)
- In some cases, young adults aged 18+ continuing their education
Additional financial sufficiency and health insurance requirements arise for family members. At this point, Corpenza clarifies both the investment amount and total budget with a modeled table according to family composition, preventing surprise costs.
Pre-assessment based on investor profile
Before applying, it is important to analyze yourself in the following aspects:
- Risk appetite (company capital, real estate, or a more passive structure?)
- Your annual stay plan in Latvia (only minimum renewal or permanent residence?)
- Your global tax position (double taxation agreements, where tax residency will remain, etc.)
- Your company establishment and international payroll needs (critical if you plan to set up remote teams)
Corpenza evaluates residence by investment, company establishment, payroll, and tax optimization in a single framework in this analysis and compares alternative EU countries alongside Latvia.
Investment Options and Strategic Positioning
1. Company capital and business investment (minimum €50,000)
The lowest threshold investment route in Latvia is to contribute capital to a Latvian company or provide qualified financing to the company. In general:
- At least €50,000 capital contribution or similar structure
- The company meets a certain annual tax payment threshold (for example, practical thresholds like at least €40,000 tax burden)
- The activity must be real, economic, and sustainable; Latvian authorities do not approve a “shell company” concept on paper
For entrepreneurs planning global expansion, this option provides not only residence but also a real EU operational base at the same time. Here, Corpenza steps in and:
- Handles company establishment in Latvia from A to Z
- Designs international accounting and tax planning
- Enables you to payroll your remote working team with Corpenza payroll solution and expense their costs
- Establishes temporary employment models with personnel leasing (posted worker) for short-term needs
2. Real estate investment (generally €250,000 and above)
Latvia also grants Golden Visa through real estate. The framework we often see in practice:
- Purchase of residential or commercial property above the minimum value threshold in Latvia
- Submission of title deed, valuation report, and payment receipts in the file
- Obligation to hold the property for a certain period (usually at least 5 years)
This option is attractive for investors who do not want to take operational business risks but aim to diversify their assets in the EU. Corpenza provides a clear comparison by placing not only Latvia but also real estate-based residence programs and tax regimes in countries like Portugal and Greece side by side.
3. Bank deposits and other financial structures
At certain times, Latvia granted residence rights through bank deposits or similar financial products above a certain amount. This area is the most affected by regulatory changes, so you should check the latest requirements on the official OCMA page and with experts before applying.
Generally, these models:
- Involve a higher investment threshold
- Offer a more “passive” structure in exchange for low operational risk
- Become a portfolio component with limited returns but simple management
Aligning the investment with your global strategy
Instead of focusing solely on the “what amount and which instrument” question, it is healthier to think about the investment in the following aspects:
- Your company establishment plan within the EU (Is Latvia the only center or multiple countries?)
- Your remote team and contracted worker plan (Can it be combined with Corpenza payroll and personnel leasing solutions?)
- Where you want to maintain tax residency (If you plan for permanent residence in Latvia, the tax aspect is critical)
- Your future plans for liquidating the investment, exit, and inheritance
Application Process: Step-by-Step Implementable Roadmap
Step 1 – Preliminary analysis and roadmap preparation
Instead of starting the application by directly collecting documents, first drawing a strategic framework makes your job much easier:
- Determine which investment route is suitable for you
- Decide whether to include family members
- Establish target timing (for example: getting your card within 6–9 months)
- Design your tax, company establishment, and workforce plan in the same file
At this stage, Corpenza presents the Latvia Golden Visa alongside other residence and company establishment alternatives like Malta, the Netherlands, and Spain, providing a clear table with sample budgets.
Step 2 – Selecting and structuring the investment
After clarifying your strategy, you move on to the technical design of the investment. For example:
- Company route: Establishing a new company in Latvia, partnership in an existing company, or capital increase
- Real estate route: Portfolio selection based on region, budget, rental potential, and exit plan
- Financial instruments: Bank and product selection, maturity, and interest structure
Main points to pay attention to at this stage:
- Make all payments through the bank and in a traceable manner
- Sign contracts in two languages (at least Latvian/English) and with legal consultancy
- File title deeds, share transfer, and capital increase documents completely
Corpenza manages company establishment in Latvia, investment contracts, opening bank accounts, accounting, and payroll structure within a single project plan. Thus, your residence, company, and workforce processes do not conflict with each other.
Step 3 – Document preparation and compliance check
Latvian authorities meticulously examine the following documents in your application file:
- Your passport and personal information
- Criminal record and any previous residence/work permits if applicable
- Receipts, contracts, title deeds, or shares related to the investment
- Proof of source of funds (bank statements, sales/profit-sharing contracts, etc.)
- Health insurance and health reports
- Marriage/birth documents for family members
For all documents:
- Have them translated by a sworn translator in the required languages (usually English or Latvian)
- Complete apostille and notary approvals thoroughly
- Use a standard naming system for scanning and filing (digital management is also critical)
Step 4 – Submission of the application and evaluation process
You can submit your application through the following channels:
- Latvian embassy or consulate in the country where you reside
- OCMA offices in Latvia (there is also the possibility to execute through a representative)
In the post-application process, the authorities:
- Conduct security and AML checks
- Verify the reality and continuity of your investment
- Request additional information/documents if deemed necessary
At this stage, the consistency of the file, timely and clear response speed directly affects the outcome. Corpenza focuses on structuring and tracking the application on your behalf to eliminate possible rejection reasons from the start.
Step 5 – Biometrics, card printing, and first entry to Latvia
When your application is approved, you must go to Latvia within a certain period to:
- Provide your biometric data such as fingerprints and photo
- Physically receive your residence card (TRP card)
The first card is usually issued with one year of physical validity; as long as you maintain the investment and conditions, you can benefit from the temporary residence regime for up to 5 years with extensions. It is important to make at least one actual entry to Latvia each year to renew your card and remain active in the system.
Permanent Residence, Citizenship, and Tax / Workforce Planning
After 5 years: permanent residence and integration requirements
When you maintain your investment and residence in Latvia, you can apply for a permanent residence permit after 5 years. At this stage:
- You must provide a certain actual residence period (for example, an annual band of 183 days)
- You will pass a basic level Latvian language exam
- You will meet simple integration criteria regarding Latvia’s constitutional order and social structure
Permanent residence provides long-term security in Schengen; your predictability level for your company, family, and investments within the EU increases.
10-year perspective: possibility of transition to citizenship
For those who want to transition to Latvian citizenship in the long term:
- Combination of 5 years of temporary + 5 years of permanent residence
- More advanced language and citizenship exams
- Double citizenship regime and compliance with your country’s rules
Since citizenship means an EU passport, you should thoroughly examine both your country’s and Latvia’s double citizenship rules before moving to this stage.
Tax optimization and company establishment aspect
As actual residence and business activity in Latvia increase, the question of tax residency becomes critical. Here:
- Clarify in which country you will be considered a tax resident
- Examine the double taxation prevention agreements between Latvia and your own countries
- Professionally structure profit distribution, transfer pricing, and intra-group service invoices
Corpenza offers expertise in international accounting, tax optimization, and multi-country company structures. Through the company you establish in Latvia:
- You can payroll remote teams working in various countries properly from a financial and legal perspective with the Corpenza payroll system
- You can conduct short-term assignments within Europe legally with personnel leasing and posted worker solutions
Risks, Attention Points, and Advantages of Working with Corpenza
Regulatory risks and possibility of program changes
Golden visa and residence by investment programs across the EU can occasionally be subject to political and legal pressures. Latvia is not independent of these fluctuations. Therefore:
- Before applying, always check the current state of the relevant legislation on the official OCMA site and with experts
- Design your investment decision with long-term but flexible exit options
- Include clauses in your contracts that will protect you in case the program closes or conditions become stricter
File rejection, additional document requests, and appeal processes
A significant portion of rejections arises from missing documents, inconsistent financial explanations, or insufficient AML documentation. To prevent these:
- Document all fund movements from start to finish before applying
- Do not hide previous residence permits or visa rejections; provide complete and consistent information
- Respond quickly, clearly, and with supporting documents when questions arise
Corpenza, with its practical experience from similar files, considers the requirements of different countries while preparing your Latvia file. Thus, you establish a plan that does not rely excessively on a single country and includes global flexibility.
Integrating the Golden Visa into your global mobility strategy
Instead of viewing the Latvia Golden Visa as a standalone “residence permit product,” it creates a stronger outcome to consider it within the following strategic integrity:
- Company establishment within Europe: Latvia center + branches or affiliates in other EU countries
- International workforce: Payroll and posted worker structures through Corpenza, remote teams, project-based personnel leasing
- Asset and tax optimization: Balanced distribution of real estate, company shares, and financial instruments across different countries
- Residence and citizenship portfolio: Alongside the Latvia Golden Visa; residence or citizenship programs in other countries
Corpenza coordinates all these components under a single roof; it makes residence permits, company establishment, payroll, investment citizenship, and tax planning intercommunicate. Thus, you establish not just a card in Latvia but a scalable mobility and workforce architecture on a European and global scale.
