Latvia Golden Visa for Indian Citizens: Complete Guide 2026

The Latvia Golden Visa is the informal name for Latvia’s Investor Residence programme established under Section 23 of the Immigration Law^{[1]Source: Latvian Immigration Law, Section 23, Paragraph 1, Clause 28 — Latvia's Investment Residence Programme legal framework}. The programme has operated since 2010 and is administered by the Latvian Office of Citizenship and Migration Affairs^{[2]Source: Office of Citizenship and Migration Affairs (OCMA) — Investment residence permit}.

Investors obtain a temporary residence permit valid for 5 years in exchange for an investment. Entry thresholds start from €50,000, making Latvia one of the most affordable EU residency by investment programmes.

All applications undergo government Due Diligence checks, including verification of the investor’s background and source of funds. Successful applicants receive Latvian residence permits for themselves and eligible family members, allowing legal residence in the country for the validity period of the permit.

The Latvia Golden Visa attracts Indian investors with its low investment threshold, fast processing, and Schengen access. It does not require relocation, allowing investors to stay in India while keeping their business and tax residency and still obtaining EU residency for their families.

1. Visa-free Schengen travel

Indian passport holders are currently required to obtain a Schengen visa for every trip to Europe. A Latvian residence permit replaces that process and enables travel across all Schengen countries without additional visa applications.

Holders may spend up to 90 days in any 180-day period in other Schengen states — days spent in Latvia do not count against this limit.

2. EU residency by investment at an affordable cost

Latvia offers one of the most affordable active residence by investment programmes in Europe in 2026, with entry thresholds starting at €50,000, excluding legal and ancillary costs.

By comparison, other EU residency programmes set considerably higher thresholds. For example, the Malta Permanent Residence Programme requires at least €169,000, Portugal and Greece Golden Visas — €250,000, and Cyprus Permanent Residence — €300,000.

3. No relocation requirement

Latvia does not require investors to live in the country to maintain the residence permit. Holders must visit Latvia once a year to renew the residence card and resubmit biometrics — the physical card is issued for 1 year and renewed annually. Beyond that, there is no minimum stay requirement.

4. Fast processing

Latvia remains one of the fastest investor residency programmes in Europe, with approval typically issued within about 1 month after submission. The overall timeline, including document preparation and biometrics, is usually 3+ months.

5. Business-friendly tax system

Latvia does not charge corporate income tax on profits reinvested into business development. The standard 20% tax applies only when profits are distributed as dividends.

6. Investment returns

Some investment options may generate additional income. Real estate in Latvia can yield around 5—7% annually through rental income, while bank deposits may offer up to 3% annual interest.

7. Path to EU permanent residency and citizenship

After 5 years of continuous residence, Latvia Golden Visa holders become eligible for permanent residency. 5 years after that, they may apply for Latvian citizenship.

Indian citizens can apply for the Latvia Golden Visa under the same rules as other non-EU nationals. The programme sets several eligibility requirements for the main applicant and also allows investors to add close family members to the application.

Requirements for applicants

To be eligible to apply for a Latvia Golden Visa, the investor from India must meet the following requirements:

• be over 18 years old;
• have a clean criminal record;
• provide a medical certificate confirming good health;
• prove the legal source of funds;
• demonstrate sufficient financial means.

Eligible dependants are a legally married spouse and children under 18 who are unmarried and financially dependent on the investor.

All approved family members receive the same 5-year residence permit, allowing them to legally reside in Latvia and travel within the Schengen Area.

Core document requirements for Indian applicants

To apply for the Latvia Golden Visa, Indian citizens prepare the following set of documents:

• full copy of valid passport;
• completed application form;
• biometric photograph;
• police clearance certificate;
• proof of financial self-sufficiency;
• confirmation of state duty payment;
• investment confirmation document appropriate to the chosen route.

Police clearance certificate is obtained from the National Crime Records Bureau. It must be apostilled by India's Ministry of External Affairs via the e-Sanad portal and translated into Latvian or English by a Latvian-authorised translator.

Source of funds verification is confirmed through a set of financial documents:

• Income Tax Returns for the past 2 years;
• bank statements covering 3—6 months;
• a Chartered Accountant-certified net worth statement;
• business financial statements;
• an explanation of funds accumulation and flow;
• supporting documents such as property sale agreements where relevant.

All documents must carry certified Latvian translations.

Financial sufficiency thresholds require the main applicant to demonstrate at least €8,880 in their bank account, or €26,640 if purchasing real estate. Including a spouse adds €8,880, and each child adds €2,664.

Family members submit their own documents: valid passports, a marriage certificate, children's birth certificates, and parental consent documents where applicable. Indian marriage certificates and birth certificates must each be apostilled by the Ministry of External Affairs and certified-translated into Latvian or English.

Indian applicants may invest in a Latvian business, purchase real estate, or place funds in a bank deposit in exchange for Latvian residency permit.

The investor must maintain the investment for the duration of the permit. The residence card is issued for 5 years and can be renewed indefinitely as long as the investment is held.

Business investment — €50,000+

Applicants invest in the share capital of a qualifying Latvian company. The minimum threshold depends on company size: €50,000 for companies with fewer than 50 employees and annual turnover below €10 million. For larger companies exceeding both thresholds, the investment is €100,000.

The investment term is 5 or 10 years, depending on the return the investor opts for. After 5 years, the €50,000 is returned in full. After 10 years, the investor receives €50,000 plus a 2% commission — one of the few routes under the programme that generates a financial return.

Real estate investment — €250,000+

Applicants purchase a single residential or commercial property in Riga or within 30 km of the city. The property must be completed — purchases of properties under construction do not qualify.

The investment must be maintained for at least 5 years. During the holding period, the property can be rented out, generating annual rental yields of 5—7%. After 5 years, the investor may sell the property and reinvest in a new qualifying asset to continue residency.

Bank deposit — €280,000+

Applicants place funds in subordinated bonds of a Latvian credit institution for a fixed 5-year term. The deposit generates an annual return of up to 3%. After maturity, the full capital is returned according to the bond terms.

In addition to the qualifying investment, the full cost of the Latvia Golden Visa includes mandatory government fees and application-related expenses such as processing, documentation, and compliance costs. Depending on the selected route, additional transaction and service fees may also apply.

Fee composition

The total cost of the Latvia Golden Visa increases with each additional family member. Most government, processing, medical, and administrative fees are charged per applicant, while the investment remains a single fixed amount for the family.

Several cost components are difficult to estimate in advance and depend on individual circumstances:

• health insurance — varies by provider, age, and coverage level;
• document translation and apostille — depends on the number of documents and languages required;
• legal and advisory fees — vary by service scope and number of applicants;
• courier and notarisation fees;
• travel costs for the mandatory annual visit to Latvia.

Some costs may continue after the initial application, such as registered address services or insurance, depending on the selected route.

The table below breaks down the main cost components for each route: minimum investment, state fee, and administrative fees. The latter cover residence permit, document preparation, medical and biometrics, travel, registered address, and investment-specific costs where applicable.

Тransferring funds from India

Latvian authorities and banks conduct strict anti-money laundering and Due Diligence checks before approval — incomplete source-of-funds documentation is a common cause of delays.

Transfers from India must comply with the Foreign Exchange Management Act regulated by the Reserve Bank of India. Under the Liberalised Remittance Scheme, Indian residents may transfer up to $250,000 per financial year without prior approval^{[3]Source: Reserve Bank of India — Liberalised Remittance Scheme Master Direction}.

Equity participation in a Latvian company may be treated as Overseas Direct Investment, depending on the investment structure. In that case, the investor must report the transfer through an authorised dealer bank in India before any funds move.

Coordination between an Indian Chartered Accountant and a Latvian immigration lawyer is recommended before transferring funds to ensure full tax and immigration compliance on both sides.

The Latvian residence card must be renewed annually, although the residence permit itself is granted for 5 years. To maintain residency, investors must:

• retain the qualifying investment;
• complete annual registration procedures;
• update biometrics;
• pay annual renewal fees from €75 per person;
• maintain registered address where applicable.

For the business investment route, investors who keep the same investment structure after the initial 5-year period must also pay an additional €5,000 government renewal fee.

Latvian permanent residence is available after 5 years of lawful residence. Applicants must demonstrate continuous residence, limited absences from Latvia, sufficient income, and Latvian language proficiency at A2 level.

Latvian citizenship by naturalisation generally requires renouncing previous citizenship. As India also does not permit dual citizenship, Indian nationals would need to surrender their Indian passport to obtain a Latvian one^{[4]Source: Republic of Latvia — Citizenship Law, Section on Dual Citizenship and Naturalisation}.

To maintain ties with India, former Indian nationals who renounce their Indian citizenship may apply for Overseas Citizen of India status. It allows holders to travel to India visa-free and live, work, and study there indefinitely. However, it does not confer full citizenship rights, such as voting or holding certain public offices.

A Latvia Golden Visa does not automatically make an investor a Latvian tax resident. Latvian tax residency usually applies only if an individual spends more than 183 days per year in Latvia or establishes their main economic interests there. Investors who do not meet either condition remain tax residents of India.

Tax residency in Latvia

Latvian tax residents are liable to personal income tax on their worldwide income. Non-residents are taxed only on Latvian-source income:

• rental income;
• business profits;
• other income earned within the country.

Indian Golden Visa holders who do not relocate to Latvia generally retain their Indian tax residency. This means their global income — salaries, dividends, business profits earned outside Latvia — remains subject to Indian taxation only^{[5]Source: Ministry of Finance of the Republic of Latvia — Tax object and taxable income}.

Taxes for individuals

Progressive personal income tax applies to all individuals earning income in Latvia — both residents and non-residents on their Latvian-source earnings. The rate depends on the level of annual income:

• 25.5% on income up to €105,300;
• 33% on income between €105,301 and €200,000;
• an additional 3% on income above €200,000.

Other taxes for individuals. Latvia does not apply a wealth tax. Property owners pay an annual real estate tax at 0.2—0.6% of the cadastral value. Dividends and capital gains are generally taxed at 25.5%, though dividends distributed by Latvian companies that have already paid corporate income tax are usually exempt^{[6]Source: PwC Worldwide Tax Summaries — Latvia: Individual Taxes on Personal Income}.

Corporate taxes

Corporate income tax in Latvia is charged when profits are distributed, not when they are earned^{[7]Source: State Revenue Service (VID), Republic of Latvia — Corporate Income Tax regime}.This deferred taxation model allows businesses to reinvest and grow without an immediate tax liability. Tax becomes due only when dividends are paid to shareholders:

• standard rate: 20% on a grossed-up base — applies to all companies;
• split regime for companies owned solely by natural persons: 15% corporate income tax at company level and 6% personal income tax withheld from the dividend.

For Indian entrepreneurs who invest in a Latvian company under the business investment route, this model can provide a tax-efficient structure for accumulating capital within the Latvian entity before any distribution is made.

India–Latvia Double Taxation Avoidance Agreement

India and Latvia have signed a Double Taxation Avoidance Agreement that prevents the same income from being taxed in both countries. The treaty sets out which country has the right to tax each type of income and allows investors to claim tax credits to offset any overlap^{[8]Source: Government of the Republic of Latvia — Double Taxation Avoidance Agreement between Latvia and India}.

For Indian investors earning income from Latvian sources, the agreement removes the risk of paying tax on the same income in both countries.

The DTAA defines reduced rates or exclusive taxation rights for the most common income types for Golden Visa investors:

• dividends paid by a Latvian company to an Indian resident may be taxed at a reduced withholding rate rather than the standard 25.5%;
• interest income from a Latvian bank deposit may be taxable only in India;
• capital gains from the sale of Latvian real estate are typically taxable in Latvia as the country where the property is located;
• rental income from Latvian property is generally taxable in Latvia, with a credit available in India to offset double taxation.

Treaty benefits must be actively claimed and are not applied automatically. Investors should confirm the applicable rates and rules with a tax adviser before structuring any cross-border income flows.

Tax obligations in India

Indian tax residents are required by law to disclose all foreign assets, regardless of whether income was earned. The following assets must be reported in Schedule FA of the annual Income Tax Return:

• Latvian company shares;
• bank accounts;
• real estate.

Failure to disclose foreign assets may result in penalties under Indian tax law^{[9]Source: Income Tax Department, Government of India — Schedule FA: Details of Foreign Assets and Income from Any Source outside India}.

Coordination between an Indian Chartered Accountant and a Latvian tax adviser is strongly recommended before structuring any investment, as cross-border compliance requirements apply from the moment the investment is made.

Indian applicants considering the Latvia Golden Visa should understand key risks before investing. These risks mainly relate to compliance, documentation, banking, and execution.

Bank compliance risk. Latvian banks apply enhanced Due Diligence to Indian applicants under strict anti–money laundering rules. Delayed engagement with banks or late account opening may result in refusal or delays.

Foreign exchange non-compliance risk. Indian investors who fail to structure the transfer correctly or exceed the Liberalised Remittance Scheme limit without prior approval may face penalties under the Foreign Exchange Management Act.

Document and processing risk. Immigration authorities require valid supporting documents within strict time limits. Expired documents or incomplete files can cause delays or additional information requests.

Currency risk. Investment and fees are denominated in euros, while funding comes from Indian rupees. Exchange rate fluctuations may affect the final effective cost of the investment.

Immigrant Invest is a licensed advisory company with 20 years of experience in residence and citizenship by investment programmes. The team operates under official authorisations from relevant jurisdictions and has supported more than 10,000 clients worldwide in securing residency and second citizenship.

Support for Indian applicants includes:

• preliminary Due Diligence check and source of funds assessment;
• review of documentation to confirm it meets Latvian immigration and banking requirements;
• transparent cost breakdown personalised to the applicant's family composition and chosen investment route;
• full process management from eligibility assessment to residence card issuance and annual renewal;
• confidential handling of client data under formal non-disclosure agreements.

Each application is assigned a dedicated lawyer who manages communication with Latvian authorities, coordinates document preparation, and monitors every stage through to residence card issuance.

Clients receive end-to-end support throughout the entire application process, including assistance with responding to government requests, preparing additional clarifications if required, and ensuring compliance at each stage. This structured approach helps reduce processing delays and minimises the risk of rejection due to documentation or compliance issues.

1. Latvia offers one of the lowest-cost EU Golden Visa routes, with the business investment option starting from €50,000.
2. Latvia Golden Visa provides visa-free Schengen access, a path to EU permanent residency and citizenship, and potential returns through rental income or bank deposit interest.
3. Indian citizens can include a legally married spouse and children under 18 in the same application.
4. The Latvian residence permit is granted for 5 years with no minimum stay requirement. However, the physical card must be renewed annually, requiring one visit to Latvia per year for biometric resubmission.
5. Applicants must prepare clear source-of-funds documentation and comply with the Foreign Exchange Management Act and the Liberalised Remittance Scheme.
6. Latvian citizenship is available after 10 years — 5 years on a temporary permit and 5 years as a permanent resident, with physical presence required. As India does not allow dual citizenship, Indian nationals must renounce their Indian passport to obtain citizenship.