The Latvian Government has published figures on residence permits granted for Golden visa program for investments (eg. Real estate, Company share, State securities or deposit in credit institution).
The Latvia Golden visa program grants temporary residence permits (TUA) to foreigners who invested in the latvian economy for €250,000 euro in real estate, bonds, bank deposit and company shares. After the Russian invasion of Ukraine in 2022, the amendments to the Immigration Law tightening rules, have completely stopped the opportunities for citizens of Russia and Belarus to apply for a Latvia GV based on the investments made in the Latvian economy.
According to the data from Citizenship and Migration Affairs Board (PMLP), total investments of non-residents related to Latvia Golden visa program, July 1, 2010 to December 31, 2022 amounted to total €1.61 billion euro.
From July 1, 2010 to December 31, 2022, as part of the investment program, PMLP has received applications for TUA for economic investment as follows..
- Total Applications received: 20,632 persons (8,197 investors and 12,435 of their family members).
- Approved – 19,610 TUAs (residence permit) were issued.
- Denied – 251 investors were denied the issuance of TUAs, while
- Canceled – 3,110 issued TUAs were canceled.
Bank deposit
- 13 applications were received in 2016,
- 12 applications in 2017, 2 applications in 2018,
- No applications were received in 2019 and 2020.
- 2 applications were received in 2021,
- No applications were received in 2022.
Latest data (2023)
New data published by PMLP office, as of Jul 2023, there are 2,154 property investors and their 2,158 family members, hold valid TUA residence permits for investing.
1.Property – 2,154
2. Credit Institution – 36
3. Companies – 118
4. State securities – 29
During first half 2023, only 17 foreigners invested in Latvia, 5 investors received TUA’s for real estate investment. 11 investors made a capital transfer to a company and only one in credit institution..
