(LATVIA) — Latvia offered foreign investors a renewed route to European residency by tying a five-year temporary residence permit to a €280,000 bank deposit held as a subordinated liability, a structure drawing attention as other European residency-by-investment schemes tighten.
Under Latvia’s Golden Visa bank-deposit pathway, applicants place €280,000 in a Latvian credit institution for five years and pay a one-time government fee of €25,000. Approval grants residence rights in Latvia and visa-free travel across the Schengen Area, while keeping the investment locked in place and meeting screening requirements.
The program operates as a rules-based option under Latvia’s immigration framework, but it does not remove case-by-case eligibility checks. Applicants still face due diligence, documentation review and compliance expectations throughout the permit period.
Interest in Latvia’s approach has grown in part because it remains an active, legally grounded residence route centered on a bank deposit rather than real estate purchases or business creation. That makes the mechanics of the investment—especially its “subordinated liability” form—central to how applicants assess both the benefit and the risk.
Latvia requires the €280,000 to sit in a Latvian bank as a subordinated liability, a term that signals the deposit ranks behind some other claims on the bank. The structure differs from an ordinary deposit because the funds are placed in a required subordinated form and must remain untouched for the full term.
Applicants cannot treat the money as accessible savings. Latvia’s rules tie the residence permit to the continued existence of the subordinated deposit, and early withdrawal can jeopardize status.
Early withdrawal before obtaining permanent residency invalidates the residence permit. That lock-in period makes timing and liquidity essential considerations for investors, especially those who might need access to capital during the five-year span.
The deposit yields interest of approximately 2.5% to 3.3% annually, depending on bank terms, while the principal is generally intended to be returned at term end. Latvia’s framework describes the funds as returned in full after the five-year period concludes, with conditions tied to the completion of the term.
Beyond the deposit and the €25,000 state fee, applicants typically face ancillary costs that can shape the total outlay. Document preparation often runs €1,000+, while other administrative fees total €4,340+.
Those charges can vary with how documents are gathered, legalized and submitted, but Latvia’s route expects applicants to plan for more than the headline amounts. The need to coordinate bank onboarding, documentation and consular filing also means applicants often rely on legal support.
Eligibility focuses on non-EU investors who can clear due diligence and comply with residency requirements. Applicants must be a non-EU, non-EEA, non-Swiss citizen, hold a clean criminal record, prove a legal source of funds and maintain valid health insurance while residing in Latvia.
Latvia’s investor route restricts certain nationalities. Nationals of Russia and Belarus are restricted from applying under the investor route, while investors from India, the Middle East, Africa, Southeast Asia, the UK, and the Americas remain eligible.
Family members can join under the same application framework, extending the residence benefit beyond the main investor. Spouses require a marriage certificate and clean criminal record, while dependent children under 18 must provide birth certificates.
The benefit package centers on a single approval: a five-year temporary residence permit. It allows holders to live, work and study in Latvia, and it supports business activities in the country.
Schengen travel access remains a major draw. The permit offers visa-free travel across the Schengen Area, a practical advantage for investors and families who want mobility while maintaining a legal base in Latvia.
Latvia does not impose a strict minimum stay requirement, but it still expects ongoing ties. The rules describe “No strict minimum stay requirement—only an annual visit to Latvia is necessary,” a condition that can affect how permit holders plan travel, keep records and show continued compliance.
Even without a minimum number of days in-country, the annual visit requirement introduces a recurring compliance step. Permit holders need to treat the residence permit as a living status to maintain, rather than a document received and forgotten.
The process itself often moves faster than long-form investor migration programs that require multi-year residence before first issuance. Latvia’s application process typically takes 1–3 months from submission, though the practical sequence includes bank onboarding, document work and embassy filing.
Week-by-week, applicants often begin by engaging counsel or a service provider. The timeline typically starts at Week 1: Engage legal support and sign service provider contract, reflecting the need to coordinate bank and immigration steps early.
Bank funding comes next in the typical sequence. By Week 3: Deposit €280,000 in a Latvian bank account, applicants complete the core investment act that underpins the residence application.
Documentation then becomes the main focus. At Week 4: Collect and legalize required documents, applicants gather criminal record documents, proof of funds and other paperwork, along with legalization or apostille steps where required.
Consular submission follows. The usual path lists Week 6–8: File application at a Latvian Embassy, a stage that can require scheduling, in-person attendance and document presentation in line with consular rules.
Decisions and the state payment come later, not at the start. The sequence then moves to Week 8–16: Receive approval and pay the €25,000 government fee, tying payment to approval rather than to the initial submission.
Post-approval requirements also include travel to Latvia. After approval, applicants must visit Latvia within three months to submit biometric data and collect their residence card.
The residence card step gives the status its day-to-day practicality, turning an approval into a physical document used for identification and travel. It also creates a defined compliance window that can be especially relevant for applicants who live far from the region.
Latvia’s five-year term links the program’s promise of stability with its longer-term immigration pathways. The temporary permit does not automatically confer permanent residency, but it sets a defined period after which investors may seek a more durable status.
After five years, investors may apply for permanent residence by demonstrating basic knowledge of Latvian (A2 level), legal stay throughout the investment period and continued financial eligibility. That requirement means the bank-deposit route functions less as an instant permanent solution and more as a structured residence period with a later decision point.
The permanent residency step sits at the intersection of compliance and integration. Maintaining lawful status across the investment term remains central, and the language threshold adds an additional condition that applicants must plan for during the five years.
Citizenship remains a separate, longer track, with requirements beyond holding a temporary permit. Citizenship typically requires 10 years of residency, a Latvian language test, civic and history knowledge, and in most cases renunciation of previous citizenship, as Latvia generally does not allow dual citizenship except in specific cases.
That distinction matters for applicants who approach a Golden Visa expecting it to function as a quick route to an EU passport. Latvia’s route can provide residence and mobility benefits, but it draws a clear line between temporary residence, permanent residency and citizenship.
Latvia’s program also stands out for its legal basis and continuity. The bank deposit route operates under Section 30 of Latvia’s Immigration Law, anchoring the investment model in a defined statute rather than a discretionary policy.
The legal framework has remained consistent for over a decade with minimal legislative changes. Supporters of the route point to that continuity as a differentiator at a time when other European residency schemes have faced increased requirements or closures.
Stability, however, does not mean guaranteed outcomes. Latvia still screens applicants, reviews documents and applies eligibility rules, including nationality restrictions and the requirement to prove a legal source of funds, a reminder that the program’s predictability rests on rules that still must be met.
Latvia’s Golden Visa Lets Investors Gain EU Residency with Bank Deposit
Latvia’s residency-by-investment program utilizes a €280,000 bank deposit held for five years to grant foreign investors European residency. The path includes a €25,000 fee, Schengen travel privileges, and a 1-3 month processing window. While providing a stable alternative to real estate schemes, it requires an annual visit and a language test for those seeking permanent residency after the initial five-year term.
