Latvia golden visa and residence permit by investment 2026

EUR 250,000 in a Riga apartment no longer buys a residence permit. Since September 15, 2026 Latvia's new Immigration Law has struck out real estate and bank deposits, shut Russian citizens out of every investment route, and made permanent residence a five-year project with a language test.

For almost fifteen years Latvia was the cheapest investor entry into Schengen: an apartment in Riga or Jurmala for EUR 250,000, and a few months later a five-year residence permit. On September 15, 2026 that door closed. Latvia's new Immigration Law (Imigrācijas likums) took effect, and it no longer lists buying property or holding a bank deposit as grounds for residence.

For Russian citizens the news is harsher still: every investment route, including putting money into a business, is now closed to them. If Russian is not your only citizenship, we check before filing whether Latvia counts all your passports. Without a second passport, Hungary grants EU investor residence to Russians. Here is what changed, who is affected right now, and what options remain.

What changed on September 15, 2026

The law had a bumpy ride. The Saeima, Latvia's parliament, passed it in final reading on June 11, 2026. On June 19 President Edgars Rinkevics sent it back and asked lawmakers to consider keeping a tightly regulated property route at least for citizens of NATO, OECD (the Organisation for Economic Co-operation and Development, a club of 38 developed economies) and European Economic Area countries. Parliament declined and re-adopted the law without that carve-out on August 20, 2026.

The key changes, according to PMLP (Pilsonības un migrācijas lietu pārvalde, Latvia's Office of Citizenship and Migration Affairs):

• Property and deposits are gone. The EUR 250,000 real estate route and the EUR 280,000 Latvian bank deposit route are closed to new applications.
• Shorter permits. On most grounds a temporary residence permit is now issued for 2 years instead of 5, and for 3 years for startups.
• No more annual registration. Investor permit holders used to report to PMLP every year. Now the permit simply runs as long as the ID card.
• Decisions within 4 months of filing, and the agency cannot extend that deadline.
• Latvian for renewals. First applications can be filed in English; renewals and permanent residence applications must be in Latvian.

Which investment routes are left

Investors now have exactly two options, and one of them exists only on paper so far.

An alternative investment fund (AIF) invests not in ordinary listed stocks and bonds but in private equity, venture capital or infrastructure. The state has to establish the fund manager itself, and until it does, the EUR 150,000 route cannot be used.

The business route requires a real company, not a mailbox: EUR 40,000 a year in taxes means payroll, social contributions and corporate tax from a working business. A single company can also sponsor no more than 10 foreigners on this basis. Details are on our Latvia residence by investment page.

Can Russian citizens get Latvian residency in 2026

Not through investment. Under the new law Russian citizens cannot obtain a permit via a company or via the fund. The remote work (digital nomad) visa is closed to them as well.

What remains open to Russian citizens:

• family reunification with a spouse or parent legally living in Latvia;
• Latvian ancestry: descendants of Latvians and Livonians can use repatriation to Latvia, the strongest route, covered in our article on repatriation to Latvia and Lithuania;
• the EU Blue Card (a permit for highly qualified specialists with a contract and salary above a set threshold) and intra-company transfers;
• university study.

Belarusian citizens keep slightly more: employment, the Blue Card, startups, and board membership in a company paying at least EUR 25,000 a year in taxes. Separately, the Interior Minister can grant a permit of up to 3 years on humanitarian grounds, but that is an individual decision, not a procedure.

What happens to existing property permit holders

Permits already issued stay valid until the ID card expires, provided the original conditions still hold. Applications filed on or before September 14, 2026 are decided under the old rules.

Under the amended law, renewing a property-based permit will require a payment into the state economic development programme, capped at EUR 5,000 including payments already made.

Russians and Belarusians are in a different position: earlier amendments already barred them from renewing permits obtained through property or investment. The apartment stays theirs, but it no longer gives them the right to live in the country. If that is your situation, decide early what to do with the property and your tax residence; our tax comparison by country helps weigh the options.

How to get permanent residence in Latvia now

Some categories used to receive permanent residence straight away. Now there is only one permanent status, EU long-term resident, and it requires:

• at least 5 years in Latvia on a temporary permit;
• Latvian at level A2 or higher (basic level: simple everyday conversations, forms, notices);
• a course on Latvian history and culture, which is training rather than an exam;
• no more than 10 months of absence over the five years, as for other forms of EU long-term resident status.

The mandatory language and culture course for temporary permit holders starts on December 31, 2027. The bottom line: Latvia has stopped being a country where residence is bought and become one where it is earned through years of living there.

Why Latvia ended its golden visa

The programme was politically sensitive from the start: Russian citizens made up the bulk of investors, and after 2022 Riga closed one door after another to them. The second reason is Europe-wide: Spain shut its programme in 2025, and Portugal dropped housing from its list earlier and in 2026 stretched the path to citizenship to 10 years. We track what still works in our overview of European golden visas.

Which countries still offer residency for property

If the goal is EU residence through investment, the realistic options are:

More destinations are in our guide to residency through real estate in 2026. If you work remotely, look at digital nomad visas: for many passports they cost far less than any golden visa.

Who the new law suits and who it does not

It suits entrepreneurs from countries outside the restricted list who genuinely run a business in the Baltics and are ready to pay tax, specialists with a job contract, and descendants of Latvians. It does not suit anyone who wanted to buy an apartment passively for a permit, or Russian citizens, for whom the investment route is shut entirely. If you are weighing life in the capital, start with our Riga guide and Latvia overview.

Our services for residency in Latvia and Europe

We help you pick a route that works for your passport and budget and see it through to a residence card in hand.

If you already hold a Latvian permit and property, we can help with renewal, a sale or switching to another basis, and disputes are handled by Murblz specialists together with locally licensed partners.

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