The applicant can apply for Latvian Permanent Residence after they have resided in the country for a minimum of five years. They must have resided in the country for a minimum of four of those years, have knowledge of the language, general history and national anthem.

Citizenship

Applicants can apply for citizenship in Latvia after 10 years of residence, providing they have resided in Latvia for the majority of this time. There is no direct citizenship by investment programme in Latvia.

Permanent residence permit and citizenship

After five years of receiving the residence permit, the applicant may apply for a permanent residence permit. To qualify for a permanent residence permit, the candidate must have resided in the country for four years out of the five-year period and should have successfully passed the basic Latvian language test at Level A2. The applicant must also have a proven knowledge of the general history of Latvia and the national anthem. Applicants must renounce their former citizenship in order to be granted Latvian citizenship, although exceptions may apply

KEY FACTS

• Business investment of €50,000, plus €10,000 donation, plus fees.
• Full family residency
• Flexible. No requirement to reside.
• Renewable after 5 years
• EU Schengen visa travel.
• Eurozone currency

Latvia is part of the Eurozone and is also a Schengen visa zone country. Hence residency in Latvia enables investors to travel throughout the EU Schengen visa zone. Applicants can apply for permanent residency after five years but must have lived in the country for most of that time. The Latvian capital Riga is just 90 minutes by air from Moscow. Most of the residents in Latvia speak Russian and Latvia is a popular destination for Russians seeking investor visas, residency and citizenship in Europe.