Reviewed by Jane Katkova, Founder & Licensed CICC ConsultantLatvia's new Immigration Law entered into force on 15 September 2026. The Office of Citizenship and Migration Affairs (PMLP) confirmed on the same day that the law, adopted on 20 August 2026, "no longer provides the option of granting temporary residence permits to real estate purchasers or investors in subordinated liabilities of credit institutions". The 2002 Immigration Law it replaces expired on the same date.
For investors this closes the route that defined the Latvian golden visa for more than a decade: a property transaction from €250,000 in Riga, Jūrmala and other listed territories.
Investor routes under the new Immigration Law
Two investment grounds remain in the statute, and only one of them can be used today.
| Route | Minimum investment | Additional payment | Permit validity | Status |
|---|---|---|---|---|
| Real estate purchase | Previously from €250,000 | n/a | n/a | Closed to new applicants |
| Subordinated bank deposit | n/a | n/a | n/a | Closed to new applicants |
| Company share capital | €50,000 (smaller companies) or €100,000 (larger companies) | €10,000 | Up to 2 years, renewable | Open |
| State-managed alternative investment fund | €150,000, held at least 5 years | €10,000 to the state budget | Up to 5 years | In the law, not yet available |
On the fund route, PMLP states that "such a fund has not yet been established, making this provision inapplicable for the time being". Latvian immigration counsel report that the company route carries tax-payment conditions (at least €40,000 a year for the smaller-company option and €100,000 for the larger) and a cap of 10 foreign nationals per company. Citizens of Russia and Belarus cannot use either investment ground.
Existing permit holders and other changes
Permits issued before 15 September 2026 stay valid until they expire, provided the original conditions are still met. Counsel report that holders who renew will pay a capped contribution of up to €5,000 to the state economic development programme.
The law also changes the general framework that every permit holder lives under:
- Residence permit applications are to be decided within a maximum of four months.
- First applications may be filed in Latvian or English; renewals must be in Latvian.
- Only one form of permanent status is retained, EU long-term resident status, and first-time applicants need at least five years of residence in Latvia on a temporary permit.
- An integration obligation covers the state language and Latvian history and culture, with a transition period to 31 December 2027.
What this means for applicants
For US and Canadian citizens, and for US or Canadian residents holding other passports, Latvia is no longer a property-based route to a Schengen residence card. Buying an apartment in Riga after 15 September 2026 gives no immigration benefit. The company capital route is a business immigration option with real tax and operating obligations, and its two-year permit is shorter than before. The €150,000 fund route may become attractive, but it cannot be filed until the state fund exists, and we would not plan around it yet.
Clients who already hold a Latvian permit through property or a deposit should diarise their expiry date, keep the investment in place and prepare the renewal in Latvian well ahead of time. Those who wanted permanent status should note the five-year residence requirement and the language obligation.
Applicants who wanted a low-presence EU permit should compare the Hungary Guest Investor Programme and the Greece golden visa; our Latvia page sets out the current position in full. To review your own position, book a consultation with our team.