Residence Permit in Latvia Through Real Estate Investment

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Obtaining a residence permit (RP) in Latvia through real estate investment is one of the most popular legal pathways to live in the European Union. Latvia is part of the Schengen Area, and a residence card allows free movement across most of Europe, along with access to business opportunities and education.

Since 2010, the Latvian “residence by investment” program has attracted thousands of applicants from Russia, Ukraine, Kazakhstan, China, and beyond. Despite recent rule changes, property in Riga, Jurmala, and other cities remains in high demand among foreign investors.

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Requirements

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To qualify for a residence permit through property purchase, an investor must:

• Buy real estate worth at least €250,000.
• Pay by bank transfer, not in cash.
• Acquire property located in Riga, Jurmala, or other major cities (regional properties may be eligible from €80,000, but they are less attractive).
• Pay a 5% state fee on the property value.

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Advantages of a residence permit

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• Free travel. Latvian RP allows visa-free access to all Schengen states.
• Education and healthcare. Residents gain access to schools and medical services.
• Tax opportunities. Latvia offers favorable tax conditions for investors.
• Family inclusion. Spouses and children can apply under the main investor.

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Duration and renewal

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• The first residence permit is issued for 5 years.
• The residence card must be renewed every 1–2 years, as long as ownership is maintained.
• After 5 years, investors may apply for permanent residence, and later for EU citizenship.

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Best cities for investment

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• Riga — capital with a strong rental market.
• Jurmala — seaside resort popular among wealthy buyers.
• Daugavpils and Liepaja — regional cities with growing demand.

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Real estate investment in Latvia is a reliable way to obtain a residence permit and secure a foothold in the EU. Success depends on choosing the right property, meeting legal requirements, and considering additional taxes and fees.