Starting September 15, 2026, Latvia will cease issuing new temporary residence permits based on real estate purchases. These changes are provided for in the new Immigration Law, which the Saeima re-adopted on August 20 and which takes effect on September 15.
Until now, a foreign investor could apply for a temporary residence permit valid for up to five years upon purchasing real estate worth at least EUR 250,000.
The new law no longer provides for this basis for initially obtaining a residence permit. At the same time, the option to obtain a residence permit by depositing funds in a Latvian bank—which previously required an investment of at least EUR280,000—is being discontinued, according to the Prian.ru portal.
That said, investors effectively have a short transition period. Applications for temporary residence permits submitted before the new law takes effect will be processed under the old legislation.
These changes do not mean that residence permits already issued will be automatically revoked. Permits issued before September 15 remain valid until the end of their specified term. Furthermore, a special transitional mechanism is in place for holders of residence permits previously obtained through real estate purchases or bank investments: provided they maintain their investments and meet the established requirements, they will be able to apply for a renewed temporary residence permit valid for up to five years.
After the real estate option is phased out in Latvia, other investment grounds will remain available. A foreign national may obtain a temporary residence permit valid for up to two years by investing at least EUR50,000 in the capital of a small Latvian enterprise or EUR100,000 in a larger company. Additionally, a payment of EUR10,000 must be made to the state budget, and the company must meet the established requirements regarding employment, turnover, and tax payments.
Furthermore, the new law provides for an investment mechanism through a state-established alternative investment fund manager. To obtain a residence permit, applicants must invest a minimum of EUR 150,000 for a period of at least five years and additionally pay EUR 10,000 to the state budget. Such a residence permit may be granted for a term of up to five years.
Citizens of Russia and Belarus will not be able to use these investment-based options. The relevant restrictions are explicitly stipulated in the new legislation.
Latvia’s investment-based residence permit program has been in place since 2010 and, for many years, was one of the best-known European options for obtaining a residence permit through real estate.
IMMIGRATION, INVESTMENT, LATVIA, REAL ESTATE, RESIDENCE PERMIT
