Riga: what to see and whether to move there

What the city lives on and who it suits

Riga is the capital of Latvia and the largest city in the Baltics, with about 600,000 residents. It has a port, logistics, banking, IT companies, woodworking and tourism, plus the home base of the national airline with direct flights across Europe. The city is compact and green, with Europe's largest Art Nouveau district and access to the sea: the Jūrmala resort is 25 km away.

Riga suits European Union citizens, professionals with contracts, company founders and families who want a calm life in the European Union at prices below Western Europe. For Russian and Belarusian citizens it is nearly closed: ordinary visas have not been issued to them since 2022, and investor residence grounds are closed too.

Neighbourhoods: where newcomers settle

• Old Riga: the medieval centre, restaurants and tourists, the highest rents.
• The Quiet Centre and the Art Nouveau district: beautiful early 20th-century buildings, embassies, everything within walking distance.
• Pārdaugava: Āgenskalns and Ķīpsala: across the river, quieter, new buildings by the water.
• Teika and Mežaparks: green areas with houses and a park, the family choice.
• Purvciems and Imanta: large residential districts, cheaper, with good transport.

Cost of living

Exchange rate: $1.12 per euro on 6 October 2026.

Practicalities: transport, climate, language

Transport. Trams, trolleybuses and buses cover the city; a single ride is about €1.50 and a monthly pass €30. Suburban trains run to Jūrmala and the suburbs. Climate. Winters are cold and damp, around zero and below, and summers cool, about 18°C in July. Language. The state language is Latvian; many people in Riga speak Russian, but schools have switched to Latvian, and permanent residence requires elementary Latvian.

Taxes

• income tax is 25.5% on income up to 105,300 euros a year and 33% above, plus 3% on income above 200,000 euros;
• the non-taxable minimum is 550 euros a month;
• the 20% corporate tax is paid only when profit is distributed, and retained profit is not taxed;
• VAT is 21%, with a registration threshold of 50,000 euros of turnover.

More on the Taxes in Latvia page.

Moving and legal status

• European Union citizens only need to register;
• others need a residence permit: for work, study, family or an investment in company capital from €50,000 plus €10,000 to the budget;
• from 15 September 2026 buying property and bank deposits no longer give residence;
• investor grounds are closed to Russian and Belarusian citizens, and ordinary visas have not been issued to them since 2022, except for some humanitarian and family cases;
• permanent residence comes after 5 years with elementary Latvian, and citizenship 5 years later, for most with renunciation of the previous citizenship.

More on the Latvia residence by investment page.

Renting: how to find a flat

Flats are usually let for a year, with a deposit most often of one month's rent. The lease can be registered in the land register: it then survives even if the flat is sold. Check separately who pays for heating: winter bills in old buildings rise sharply and are a significant part of the budget.

Healthcare, schools and business

Residents who pay taxes get state healthcare, but there are queues for specialists, so many take private insurance. State schools teach in Latvian, and there are international schools with English programmes. Price on request from a manager. Check the price

Jūrmala and leisure nearby

The Jūrmala resort with its long sandy beach is 25 km away, about half an hour by train. Gauja National Park with the castles of Sigulda and Turaida is about 50 km away. In summer Riga residents head to the coast and country houses, and in winter to saunas and small ski slopes.

Banking and money

A Latvian bank account is opened with a residence permit or registration. Banks check clients from outside the European Union strictly, asking about the source of funds, the purpose of the account and ties to Latvia, so income documents are prepared in advance. Cards are accepted almost everywhere, and cash is rarely needed.

Is the city worth considering

The pluses are the European Union and Schengen, moderate prices, the sea nearby, convenient flights across Europe and corporate tax only on distribution. The minuses are a cold dark winter, high salary taxes and closed routes for Russian and Belarusian citizens. Riga works for European Union citizens and those with a contract or business in the region.