Residence Permit in Latvia Through Real Estate Purchase: Golden Visa 2026

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Latvia's golden visa program allows obtaining a residence permit through real estate purchase. This pathway does not depend on having relatives, an employer, or a business in the country: it is enough to acquire a property of a certain value, pay the state fee, and submit documents. In 2026, the investment program conditions have significantly tightened compared to what they were 5 or 10 years ago. In this guide, we will examine all current conditions for obtaining a residence permit in Latvia through real estate investment.

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How the Golden Visa Program Works in Latvia

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Latvia launched the Immigrant Investor Program in 2010 to attract foreign capital through real estate. The buyer purchases property, pays the fee, receives a residence permit, and can live, work, and travel across the Schengen Area. In 2026, the program continues operating but with considerably stricter conditions.

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Current Investment Program Conditions in 2026

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• Residential property: minimum value 250,000 euros, only properties in Riga
• Commercial property: minimum value 500,000 euros, any region of Latvia
• State fee: 5% of the property value, paid to the regional development fund
• Sale prohibition: the property cannot be sold for 60 months (5 years) after receiving the permit
• Residential property outside Riga no longer qualifies for the permit
• The permit is issued for 5 years with annual renewal
• The permit extends to the spouse and minor children

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Specific example: purchasing an apartment in Riga for 250,000 euros requires an additional 12,500 euros in state fees. Total costs including notarial expenses and legal support are approximately 265,000 to 270,000 euros.

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What Property Can Be Purchased for a Residence Permit

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Eligible

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• Apartment in Riga from 250,000 euros
• House in Riga from 250,000 euros
• Commercial premises (office, shop, warehouse) in any Latvian city from 500,000 euros
• Multiple properties if their combined value reaches the minimum threshold (all in Riga for residential)

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Not Eligible

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• Residential property outside Riga (Jurmala, Liepaja, Daugavpils)
• Land plots without buildings
• Properties below the established minimum

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Documents Required for a Residence Permit Through Real Estate

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Standard Applicant Package

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• Completed application form
• Biometric travel passport with copies of all pages
• Color photograph 3.5 by 4.5 centimeters
• Criminal record clearance certificate
• Proof of income from 950 euros per month
• Health insurance
• State fee receipt for the permit (90 euros)

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Real Estate Transaction Documents

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• Purchase agreement registered in the Land Register (Zemesgrāmata)
• Land Register extract confirming ownership
• Receipt for 5% state fee payment
• Proof of legal origin of funds (bank statements, contracts, tax declarations)

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Step by Step Purchase and Permit Procedure

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• Step 1: Property selection and due diligence. Lawyer checks for encumbrances and disputes through the Land Register
• Step 2: Purchase agreement execution and Land Register registration through a notary
• Step 3: Payment of 5% state fee to the regional development fund
• Step 4: Document collection for the residence permit (parallel with steps 1 to 3)
• Step 5: Type D visa (if the applicant is abroad)
• Step 6: In person document submission at PMLP
• Step 7: Awaiting the decision (30 days, up to 60 for Russian citizens)
• Step 8: Receiving the residence permit card

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The entire process from property selection to permit card takes 2 to 4 months.

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Golden Visa Costs: Complete Breakdown

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• Property value: 250,000 euros
• State fee (5%): 12,500 euros
• Notarial costs and Land Register registration: 500 to 1,500 euros
• Type D visa fee: 90 euros
• Residence permit fee: 100 to 200 euros
• Health insurance: 50 to 150 euros
• Legal support: 1,000 to 3,000 euros

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Total: approximately 265,000 to 268,000 euros.

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Hidden Pitfalls to Watch For

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60 Month Sale Prohibition

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If the property is sold before 5 years, the permit is revoked. The investment is effectively frozen for 5 years.

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Riga Only for Residential Property

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Jurmala, Liepaja, and all cities outside the capital are excluded. Commercial property has no geographic restriction but the threshold is 500,000 euros.

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Origin of Funds

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Banks and PMLP thoroughly verify the source of purchase funds. If funds come from non-transparent sources, questions will arise.

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Renewal and Path to Permanent Residence for Investors

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The investment permit is issued for 5 years with annual card renewal. PMLP verifies ownership at each renewal. After 5 years, investors may apply for permanent residence in Latvia. After obtaining permanent residence, the property can be sold without losing status.

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‍Frequently Asked Questions

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Can property in Jurmala qualify for a residence permit?

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No. Since 2026, residential property outside Riga does not qualify. The property must be in Riga and cost at least 250,000 euros.

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What happens if the property is sold before 5 years?

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The permit is revoked for the applicant and all family members. The sale prohibition is 60 months from permit issuance.

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Is it mandatory to live in the purchased property?

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No. The property can be rented out or left vacant. However, for permanent residence after 5 years, presence in Latvia for at least 183 days per year is required.

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What is the property tax rate in Latvia?

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The rate ranges from 0.2% to 1.5% of the cadastral value per year. For an apartment with a cadastral value of 100,000 euros, the tax is approximately 200 to 1,500 euros annually.

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Can multiple properties be purchased to reach the 250,000 euro threshold?

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Yes, provided all properties are in Riga and their combined value per purchase agreements reaches 250,000 euros. The 5% state fee is calculated on the total amount.

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How Lex&Finance Specialists Can Help With the Golden Visa

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Lex&Finance provides complete support for obtaining a residence permit through real estate purchase in Latvia. Our lawyers conduct property due diligence, prepare purchase agreements, arrange notarization and Land Register registration. For foreign clients, we organize the entire process remotely through a notarized power of attorney. Contact us for a free initial consultation through our website lexfinance.lv or by phone.