How to send money to Latvia in 2026: euros in 10 seconds from the EU and in 1-3 business days from other countries
In 2026 money is sent to Latvia in euros to a 21-character Latvian account: from the EU an instant transfer arrives in 10 seconds, from other countries in 1-3 business days. The account is opened after a personal meeting at the bank, usually in 1-2 weeks.
The simplest way to send money to Latvia in 2026 is a euro transfer to your own account at a Latvian bank: from an EU country an instant transfer arrives in 10 seconds at any time of day, from other countries in 1-3 business days through an intermediary bank. A Latvian bank opens an account after a personal meeting for those who have a link to the country: a residence permit, a declared address, work, studies or their own company. Since 15 September 2026, under the new immigration law, an investor residence permit is granted for an investment in the capital of a Latvian company, and the money for it also goes through a Latvian account.
Euros are converted into dollars at the European Central Bank rate for 7 October 2026 (1.1177 dollars per euro), rounded up, and the list of routes below was checked on 8 October 2026:
- an instant euro transfer from an EU country - works, 10 seconds, costs no more than an ordinary transfer, needs the account number and the recipient's name;
- an ordinary euro transfer from the EU - works, up to 1 business day;
- an international transfer from a non-EU country - works, 1-3 business days, in euros or dollars, for a large sum documents on the origin of the money;
- paying for a flat through a notary deposit or a transaction account - works, the money goes to the seller after the entry in the land register;
- a card from a foreign bank - works for expenses, payment in euros.
10 seconds from the EU: how an instant euro transfer works
Latvia has been in the euro area since 2014, so the common instant payment rules apply to the country's banks: since January 2025 they receive instant euro transfers around the clock, since October 2025 they send them, and such transfers cost no more than ordinary ones. Money from Germany, Lithuania or Finland reaches a Latvian account in a few seconds, including at night and on holidays.
The sender's bank checks the recipient's name against the account in advance and warns about a mismatch, so a mistake is corrected before the money leaves. A Latvian account number has 21 characters: two letters of the country code, two check digits, four letters of the bank code and thirteen characters of the account. For rent in Riga, a deposit or tuition this is enough: the landlord or the university sees the money at once.
A transfer to a Latvian account: a personal meeting and a link to the country
In Latvia a non-resident's account is opened at a branch after a personal meeting with a bank employee. The bank looks at what links you to Latvia, and with a residence permit, a declared address and proven income the account is opened in one to two weeks. What to bring to the meeting:
- a passport and a residence permit or another basis for staying;
- a declared address in Latvia;
- an employment contract, an income certificate or tax returns;
- documents on the sale of property, dividends or an inheritance - for savings;
- a tax residence form for the automatic exchange of tax information.
If the residence permit is still in progress and the money is needed in Latvia now, the question is solved by the order of steps: first the basis for staying and the address, then the account and only then a large transfer. We will suggest the best way to send money to Latvia for your status and carry out the transfer through licensed partners.
A transfer to Latvia from non-EU countries: currency and an intermediary bank
From non-EU countries money goes to Latvia by international transfer through an intermediary bank. It is more convenient to send straight in euros: then the Latvian bank credits the sum with no exchange. The bank converts dollars sent to a euro account at its own rate on the day of crediting, so for a large sum the recipient opens a dollar account in advance or agrees on the currency.
A common case is a transfer from Kazakhstan to Latvia. The Kazakh bank sends euros or dollars from its client's account, and for a large sum it will ask for a supporting document: a purchase contract, a tuition invoice, a rental contract. The Latvian bank will check the origin of the money on its side, so the document package is put together once so that it suits both banks. A transfer to a private person in Latvia goes the same way, to their account, and the recipient's name must match the record at the Latvian bank.
The payment goes faster if the sender's bank works with EU banks directly, without a chain of intermediaries. If your bank needs a different route, there are working legal options: tell a manager where you are sending from, and they will choose a route for your bank.
Money for family and a student in Latvia
Parents paying for studies transfer the fee straight to the university's account against an invoice: the purpose states the student's name and the contract number, and the university sees the money on the day it arrives. Living money for a student is sent to their Latvian account, and a gift from a spouse, parents or children is not taxed in Latvia. So that the bank does not ask about regular payments, the purpose each time says the same thing: family support or payment for accommodation.
A flat in Riga or Jūrmala: 1.5% for the entry in the land register
A foreigner buys a flat in Latvia in their own name. Ownership arises from the moment of the entry in the land register - the state property register - and an individual buyer pays a state fee of 1.5% of the value for it, but no more than $56,000 (50,000 euros). There is no separate purchase tax, and property tax is from 0.2 to 3% of the cadastral value a year, with the rate set by the municipality.
The settlement is arranged so that neither side takes a risk: the buyer's money waits on a notary deposit or in a separate transaction account at a bank and goes to the seller after the entry in the land register. So a transfer for a flat is planned in advance: the sum must reach the Latvian account before the contract is signed. More on choosing a flat in how to buy a flat in Latvia, and on living expenses in the cost of living in Latvia.
An investor residence permit since 15 September 2026: through company capital
The Saeima adopted the new immigration law on 20 August 2026, and since 15 September an investor receives a residence permit through an investment in the capital of a Latvian company:
| Company | Investment in capital | Payment to the state budget |
|---|---|---|
| up to 50 employees and up to $12 million (10 million euros) turnover | $56,000 (50,000 euros) | $12,000 (10,000 euros) |
| larger | $120,000 (100,000 euros) | $12,000 (10,000 euros) |
The residence permit is issued for up to 2 years and extended as long as the investment is kept and the company pays at least $45,000 (40,000 euros) in taxes a year. A flat in Latvia remains your home and an asset, while the status rests on the company. The money for the capital arrives in the company's account at a Latvian bank, so the bank checks its origin just as carefully as for a home purchase. Who this route suits depends on citizenship, and a manager will check it for your case; details are on the Latvia residence permit by investment page.
Documents for a Latvian bank by amount
Checked on 8 October 2026.
| Amount | What it is usually sent for | What a Latvian bank will ask for |
|---|---|---|
| up to $10,000 | rent, a deposit, studies | the payment purpose and a recipient's name that matches the bank |
| $10,000-$100,000 | a deposit on a flat, a car, savings | a 6-12 month statement, an income certificate or a sale contract; for a flat, a contract or reservation with the sum and address |
| over $100,000 | buying a home, company capital | a full package on the origin of the money for several years and the contract the transfer is for |
A Latvian bank quickly recognises regular transfers from one sender and processes them without questions, while for a large sum the package is prepared in advance. Deposits at one Latvian bank are insured up to $120,000 (100,000 euros). How to put the package together is covered in proof of source of funds, sending a large sum abroad and moving home sale proceeds abroad; a turnkey large transfer is on the capital relocation page. Find out the transfer terms from a specialist: they will tell you which documents a Latvian bank accepts.
Taxes on money in Latvia: residence by address and 25.5% on interest
Transferring your own money is not taxed, and a gift from a spouse and close relatives is also tax-free. A declared address in the country or 183 days in Latvia in any 12 months makes you a Latvian tax resident, and under the days rule the status counts from the first arrival in the year. A resident pays tax on worldwide income: on salary 25.5% up to $120,000 (105,300 euros) a year and 33% above, on interest, capital gains and property sales 25.5%. Details are on the taxes in Latvia page.
We will help you send money to Latvia
Mistakes cost more than fees: a large transfer before the account and the declared address are in place, dollars in a euro account at the day's rate, money for a flat that arrives after the contract is signed, company capital without documents on its origin. We will help you avoid them: we will set the order of steps from status to transfer, choose a route for your sum, collect documents on the origin of the money and carry the payment through to the entry in the land register.
Details and the cost are with a manager in the chat: it all depends on the amount, the purpose of the transfer and your status in Latvia.
Where money is sent from an account in Riga
A Latvian account is convenient as a base for expenses across Europe: money goes to Germany, Poland and the Czech Republic by instant euro transfer or within one business day. Money from Riga goes to Kazakhstan through an intermediary bank, usually in euros, and arrives on the third business day or sooner.
Sending money to neighbouring countries
- How to send money to Poland
- How to send money to Lithuania
- How to send money to Estonia
- How to send money to Finland
- How to send money to Spain
- How to send money to Norway
All destinations and the general procedure for moving capital are in the capital relocation section.
FAQ
How much do you invest in a Latvian company for a residence permit?
How much does the entry of a flat in the Latvian land register cost?
At what rate does Latvia tax a resident's interest?
Do you need a personal visit to open an account at a Latvian bank?
From what point do you become a tax resident in Latvia?
How do I send money to a Latvian bank card?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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