Latvia Golden Visa – Complete Guide for Indian Citizens (2025)

Latvia, a picturesque Baltic country in Northern Europe, is quickly emerging as a popular country for investors, students, and professionals all over the world. Its rich culture, growing economy, and membership in the Schengen Area make Latvia a strategic hub for those seeking to live, work, and travel around Europe.

The Latvia Golden Visa program is one of the most appealing options for Indians seeking to invest and settle in the country. This residency-by-investment program permits individuals and families to obtain legal residency in Latvia, and subsequently, the right to live anywhere in the EU, by making a qualifying investment.

1. What is Latvia Golden Visa?

Launched in 2010, the Latvia Golden Visa is aimed at foreign investment and capital inflow to the country. Foreign nationals can obtain a Latvian residence permit by investing in real estate, business, or government bonds.

Upon approval, the Golden Visa allows the holder to:
• Live in Latvia
• Travel across Schengen countries without a visa for up to 90 days in a 180-day period
• Access quality healthcare and education
• Apply for Latvian citizenship (after meeting the residency requirements)

2. Why Do Indian Citizens Prefer the Latvia Golden Visa?

Latvia offers the following advantages for Indian investors and entrepreneurs:
• EU Residency Access: Latvian residence permit enables Indian citizens to travel across 27 Schengen member states.
• Business Gateway to Europe: Latvia lies strategically between Western Europe and Russia, which is beneficial for trade and logistics.
• Lower Investment Requirements: In comparison with other EU Golden Visa programs, like Portugal or Spain, Latvia’s investments are cheaper.
• Speed of Service: Applications are eligible for processing within the range of 30 to 90 days.
• Inclusion of Family: The spouse along with dependent children may be added to the application form.

3. Visa Options for Indian Citizens Interested in Latvia

Indian citizens are eligible to apply for multiple Latvia visa categories based on the intent of their stay in Latvia:
• Latvia Tourist Visa: For leisure visits and holidays lasting up to 90 days.
• Latvia Study Visa: For those studying at eligible Latvian institutions.
• Latvia Work Visa: For foreign professionals with employment contracts from local companies.
• Latvia Golden Visa: For investors seeking permanent residency in the country.

The focus of this document is on Latvia Golden Visa, which is advantageous for those who want to have a permanent solution, as it provides a more permanent residency compared to other visas.

4. Eligibility Barrier for Latvia Golden Visa

Indian citizens wishing to obtain Latvia Golden Visa must satisfy these conditions:

1. At least 18 years old
2. Clean record of any criminal charges both in Latvia and across the globe
3. An active passport with two blank pages
4. Income proof and stable finances
5. Investment in Latvia to qualify
6. Medical coverage for Latvia
7. Commitment to living in Latvia for the requisite minimum time

5. Latvia Golden Visa Investment Options

Investment options available for Indian applicants in Latvia are:

1. Real Estate Investment
   • Latvian property with a minimum investment of €250,000
   • Loan free
   • Government charge of €5,000
2. Business Investment
   • Investment in a company limited to €50,000 for a company with less than 50 employees and turnover less than €10 million
   • Alternatively, €100,000 in larger companies
   • Obligates the company to a minimum of €40,000 in annual taxes
3. Bank Deposit
   • Deposit of €280,000 in a Latvian bank for 5 years
   • Government contribution of €25,000
4. Government Bonds
   • Acquisition of special government bonds of €250,000
   • Government fee of €38,000

6. Latvia Golden Visa Application Process for Indians

For applicants from India, here is how you can apply for the Latvia Golden Visa:

Step 1: Select Investment Method – Choose from real estate, business, bank deposits, or government bonds.
Step 2: Collect Documentation – Required documents include:
• Current passport
• Investment and funds documentation
• Bank statements
• Certificate for criminal records from India
• Proof of health insurance
• Agreement for purchase of property or investment

Step 3: Apply at the Latvian Immigration Office – Applications can be lodged through the Latvian Office of Citizenship and Migration Affairs (OCMA) or at the Latvian embassy in India.
Step 4: Pay Government Fees – Amount depends on your investment route.
Step 5: Wait for Approval – Takes approximately 30–90 days.
Step 6: Collect Your Residence Card – Once approved, collect your Latvia residence card.

7. Latvia Golden Visa Fees (2025 Update)

8. Timeframes for Visa Application Submission

• Standard processing: 90 days
  • Expedited processing (for an additional fee): 30 days

9. Validity, Extension, and Renewal of the Residence Permit

• The Golden Visa for Latvia is initially valid for 5 years.
  • Latvian residency is retained by visiting Latvia at least once every year.
  • Investment retention is required for renewal.

10. Pathway to Citizenship

Latvian citizenship can be obtained after 10 years of continuous residency for holders of the Golden Visa, who must also:
• Pass the basic Latvian language test
• Know Latvian history and the constitution
• Maintain a genuine connection with the country

11. Benefits of the Latvia Golden Visa for Indians

• Immediate access to the EU market
  • Comparatively cheaper than other EU Golden Visa programs
  • Family members can be included in one application
  • No need for permanent residence in Latvia (only annual visits required)
  • Increased travel flexibility within the Schengen area

12. Common Errors to Avoid

• Failing to confirm property ownership before purchase
  • Engaging with unverified agents or intermediaries
  • Submitting incomplete documentation
  • Underestimating government fees and taxes

13. Latvia Study Visa – Alternative for Students

While the Golden Visa is for investors, students can apply for a Latvia study visa once enrolled in a Latvian university. This visa is valid for the duration of their studies and can later be converted to a work visa.

14. Latvia Visa for Indian Citizens – Other Options

• Short-term visa for tourism purposes
  • Visa for employed professionals
  • Visa for entrepreneurs to establish innovative ventures