Latvia · Residency by investment
Temporary Residence Permit for Real Estate Owners
Live today under the existing Immigration Law, but scheduled for abolition. On 11 June 2026 the Saeima passed a new Immigration Law (65-17) scrapping this route; on 19 June 2026 President Rinkevics refused to promulgate it and returned it for reconsideration, citing source-of-funds and money-laundering safeguards. The re-vote falls to the autumn 2026 session; intended commencement was 1 January 2027. Treat the window as now to end-2026, but do not promise it survives to December.
For a decade this was Europe's cheapest EU residence-by-investment ticket, and it is now in its final window. But the honest advice is usually to skip it: the no-presence design that makes it attractive is the same feature that makes the permanent residence and citizenship path unreachable, and Latvia's dual citizenship whitelist excludes most non-Western clients.
Qualifying routes
One functionally connected property; cadastral value at least EUR 80,000, or a certified appraisal confirming EUR 250,000
Up to two properties totalling EUR 250,000; cadastral value at least EUR 40,000 each
The facts
- Minimum investment
- €250k
- Total landed cost
- EUR 250k property plus a 5% state budget payment (EUR 12,500 on a EUR 250k purchase) plus roughly EUR 10-20k in legal, notarial and agency costs — and Latvian property is illiquid at the top end
- Timeline
- 1–3 months — Historically among the fastest in the EU; PMLP decisions in 30 days on the standard fee
- Physical presence
- None for the permit itself — which is precisely why it does not build toward permanent residence
- Family
- spouseminor childrendependent adult childrendependent parents in some cases
- Permanent residency
- Nominally 5 years, but in practice unreachable for a non-resident investor: PR requires physical residence in 4 of the 5 years, with any year of over 183 days' absence not counting, plus A2 Latvian
- Citizenship
- 5 further years holding PR (roughly 10 years total), with Latvian language, history, Constitution and anthem examinations
- Language test
- Latvian language exam plus history and Constitution tests; A2 Latvian already needed at the PR stage
- Dual citizenship
- Not permitted — you would have to renounce
- Requirements
- no property tax arrears; non-cash settlement onlyseller must be a Latvian/EU/EEA/Swiss taxpayer entity or qualifying natural personno agricultural or forest landsubsistence of EUR 1,500/month for the applicant, EUR 500 per adult, EUR 150 per minorclean criminal record and documented source of funds
- The repeal is passed, not speculative. The only thing standing between this route and abolition is a presidential veto that the Saeima can override in autumn 2026. Anyone counting on it should file now and expect grandfathering, not rely on it.
- The no-presence permit and the PR track are mutually exclusive. PR needs 4 of 5 years physically present plus A2 Latvian; citizenship needs 5 more years of PR. Marketing that presents EUR 250k of Latvian property as an EU citizenship track is misleading.
- The 5% state budget payment is a genuine sunk cost on top of the purchase, and Latvian residential property outside central Riga is thin and slow to exit. You may lose more on the round trip than the permit is worth.
- Latvia restricts dual citizenship to EU, EFTA and NATO states plus Australia, Brazil and New Zealand. Most non-Western clients would have to renounce.
- Russian and Belarusian citizens are barred. First-time TRPs to RU/BY nationals have been suspended since 11 April 2022, and June 2026 amendments specifically exclude them from investment-based permits.
- A Cabinet-level draft has floated raising the threshold to EUR 350,000. PMLP still publishes EUR 250,000 — treat EUR 350k as a proposal, not law, but as evidence of direction of travel.
- PMLP's published page for this route has not been updated since April 2022, and at least one specialist outlet describes the share-capital route as Latvia's only operational investment pathway. Confirm live status with PMLP directly before committing funds.