According to the Relocation project, members of the Latvian “Progressive” Party have submitted a bill to the Saeima to abolish the option of obtaining a temporary residence permit through investments of at least 150,000 euros in a state-run alternative investment fund.
Bill No. 1521/Lp14 was introduced on September 3, and on September 10, the Saeima voted 65 to 17 to refer it to parliamentary committees for review.
The new Immigration Act, which takes effect on September 15, 2026, allows a foreign national to obtain a temporary residence permit for up to five years, provided they invest at least 150,000 euros for a period of at least five years through a state-established alternative investment fund manager. Additionally, the investor must transfer 10,000 euros to the state budget.
The “Progressives”’ proposal calls for removing this provision from the law. The authors of the initiative explain their position by citing risks related to national security, anti-money laundering, compliance with sanctions regimes, and the country’s international reputation. This is the position of the bill’s sponsors, not a decision already adopted by the Saeima.
At the same time, the bill does not abolish another investment mechanism for obtaining a residence permit—through an investment in the capital of a Latvian company. Under current law, a foreign investor may apply for a temporary residence permit, specifically, by making an investment of 50,000 euros in a company with up to 50 employees and an annual turnover or balance sheet total of up to 10 million euros, or an investment of 100,000 euros in a larger company. An initial fee of 10,000 euros payable to the state budget is also required upon initial application.
The new Immigration Law was adopted by the Saeima on August 20 and entered into force on September 15, 2026. It replaced the previous regulations governing investment-based residence permits and, in particular, eliminated the previously used grounds related to real estate purchases and subordinated bank deposits.
The fund mechanism was included in the new law following lengthy discussions in the Saeima. In June, Latvian President Edgars Rinkēvičs returned the law to parliament for reconsideration and specifically drew attention to the provision allowing the issuance of a residence permit in exchange for an investment of 150,000 euros in an alternative investment fund and a contribution of 10,000 euros to the budget.
For now, this is only a legislative proposal. To eliminate the investment-based residence permit, the amendments must undergo further review and be adopted by the Saeima.
INVESTMENTS, LATVIA, MIGRATION, REAL ESTATE, RESIDENCE PERMIT
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
Latvia announced a contribution of 50,000 EUR to the Ukrainian Cultural Heritage Fund (UCHF), according to Ukraine’s Deputy Prime Minister for Humanitarian Policy and Minister of Culture Tetiana Berezhna.
“This is the eleventh country to support the Fund,” she wrote on Facebook on Tuesday.
The Ukrainian Cultural Heritage Fund was established as an international mechanism to mobilize resources for the protection and restoration of Ukrainian cultural heritage. To date, the Fund has already raised over EUR4.3 million, Berezhna noted.
“Funds from the Ukrainian Cultural Heritage Fund are directed toward specific projects—the protection, restoration, and preservation of Ukrainian cultural heritage. The first project to receive support is ‘Mystetskyi Arsenal,’” the post states.
Berezhna thanked Latvia for its support of Ukraine, its solidarity with Ukrainian culture, and its willingness to invest resources in its preservation.
As previously reported, in July 2025, the Ministry of Culture, together with its partners, presented new international instruments to support Ukrainian culture at the Recovery Conference in Rome (Italy): the Alliance for Cultural Resilience, the Ukrainian Cultural Heritage Fund, and Team Europe Ukraine.
In early November 2025, the second international conference, “Cooperation for Resilience,” took place in Copenhagen, Denmark, where the operational framework of the Ukrainian Cultural Heritage Fund was presented. Following the conference, Denmark, the Netherlands, Poland, and the United Kingdom announced that they would invest EUR 3 million in the newly established Ukrainian Cultural Heritage Fund.
In late January 2026, Berezhna stated that launching the UCHF’s operations would require an initial budget of EUR10–15 million. In June, she confirmed that EUR15 million would need to be raised by the end of 2026 for the UCHF to fully launch.
The following countries have announced their contributions: the Kingdom of Denmark—10 million Danish kroner; the Kingdom of the Netherlands—1 million euros; the United Kingdom—200,000 pounds sterling; the Republic of Poland and the Kingdom of Spain—0.5 million euros each; the Republic of Estonia—20,000 euros; the Republic of Latvia – 50,000 euros
It has been reported that the first site to be restored under the auspices of the Ukrainian Cultural Heritage Fund will be the History and Local Lore Museum in Ivankiv (Kyiv Oblast), which was destroyed by the occupiers and once housed paintings by Ukrainian artist Maria Pryimachenko.
In Latvia, the so-called “golden visa” program has once again found itself at the center of a scandal after the country’s Financial Intelligence Unit identified more than 20 companies that, according to its assessment, were used for fictitious investments with the aim of obtaining residence permits. This was reported by the Latvian public media outlet LSM, citing the investigative program De Facto.
According to the investigation, approximately 200 foreigners invested more than 10 million euros in the authorized capital of such companies. At the same time, it is noted that the funds were often not used for actual economic activity but were redirected to the scheme’s organizers or circulated among related parties, providing no tangible benefit to Latvia’s economy but formally justifying applications for residence permits.
The program provides for the possibility of obtaining a temporary residence permit in Latvia upon investing 50,000 or 100,000 euros in a company’s capital. In 2025, this procedure brought the country nearly 6 million euros, and a total of 341 people received residence permits through it, including investors and their family members. At the same time, as LSM emphasizes, the state does not systematically assess how significant the actual contribution of these companies is—in terms of turnover, number of employees, or actual activities.
Interest in the program has grown in recent years. According to the Latvian Office of Citizenship and Migration Affairs, 109 applications were submitted last year—more than five times as many as in 2021, when there were 20. However, only about one-third of the applications received a positive decision, as applicants undergo security and reliability checks.
The investigation also cites the example of L Hotels, a company established about a year and a half ago. Nine of its investors applied for residence permits last year, and the company’s list of shareholders includes 30 people from India, Afghanistan, Pakistan, Turkey, Chile, Malawi, Syria, Vanuatu, and other countries. Most of them invested 100,000 euros each but received Class B shares, which, according to the articles of association, do not carry voting rights.
Toms Platacis, head of the Financial Intelligence Unit, stated that in some cases, the 50,000 euros required by law were in fact the same funds, recycled multiple times in a loop. LSM emphasizes that the story has once again intensified criticism of the program, which was originally intended to stimulate investment and attract wealthy foreigners but has been plagued by allegations of abuse from the very beginning.
In March 2026, Ukrainians’ attitudes toward Latvia were characterized by a high level of positive perception and a low proportion of negative assessments. According to the results of a survey conducted in March 2026 by the research company Active Group in collaboration with the Experts Club information and analytical center, a total of 71.6% of respondents expressed a positive attitude toward this country, which is only slightly less than in August 2025 (72.7%). At the same time, the share of negative assessments has more than halved—from 5.3% to 2.6%—indicating a further strengthening of the overall positive perception.
The breakdown of responses shows a clear dominance of positive assessments. The share of those who have a completely positive attitude toward Latvia stands at 42.4%, while another 29.1% selected the “mostly positive” option. Thus, it is the category of unconditionally positive perception that forms the foundation of the country’s image in Ukrainian society. A neutral attitude was reported by 24.5% of respondents, which is a relatively low figure for international studies of this type.
Negative assessments remain marginal. Only 1.6% of respondents expressed a mostly negative attitude, and another 0.9%—a completely negative one. At the same time, the share of those who could not decide on an answer is 1.4%, which also confirms the established and stable nature of public opinion regarding Latvia.
The dynamics of change over the past six months reveal an interesting trend. A slight decrease in the share of positive responses is accompanied by an even more significant reduction in negative assessments. This means that a portion of respondents who previously held a critical stance have shifted to either a neutral or positive stance, which generally improves the overall balance of perceptions of the country.
Compared to other European Union member states, Latvia remains among the countries with the highest levels of trust and favorability among Ukrainians. This result can be explained by a combination of political support for Ukraine, an active stance in international organizations, and clear communication at the level of state policy.
At the same time, a relatively significant share of neutral responses (24.5%) indicates that there remains potential for further strengthening the country’s image. For some Ukrainians, Latvia is not yet a country with a sufficiently deep informational or economic presence, which opens opportunities for strengthening contacts in the spheres of business, culture, and humanitarian cooperation.
“Ukrainians generally distinguish very well between countries that demonstrate consistent support for Ukraine. At the same time, the level of positive attitude is shaped not only by political statements but also by concrete actions that people can feel. That is why even small countries can have a very strong positive image,” noted Oleksandr Pozniy, director of the research company Active Group.
Thus, the survey results confirm that Latvia has established itself in Ukrainian public perception as a reliable and friendly partner. A high level of positive sentiment with minimal negativity creates favorable conditions for the further development of bilateral relations, particularly in the areas of the economy, security, and humanitarian cooperation.
According to a study conducted by the Experts Club information and analytical center based on data from the State Customs Service, Latvia ranks 35th in total trade volume of goods with Ukraine, with a figure of $522.7 million. At the same time, Ukraine has a positive bilateral trade balance, as exports of Ukrainian goods exceed imports from Latvia.
The study was presented at the Interfax-Ukraine press center; the video can be viewed on the agency’s YouTube channel. The full version of the study can be found at this link on the Experts Club analytical center’s website.
ACTIVE GROUP, EXPERTS CLUB, LATVIA, Pozniy, SOCIOLOGY, SURVEY, UKRAINE, URAKIN
Latvia and relevant Ukrainian business and defense associations are deepening their cooperation in the defense industry sector. This was announced during the Latvian-Ukrainian Defense Forum 2026, which took place on March 23 in Kyiv at the premises of the Ukrainian Chamber of Commerce and Industry. The event culminated in the signing of a memorandum of understanding between the Latvian Ministry of Defense and a number of Ukrainian organizations, which provides for long-term cooperation, technology exchange, and state support for Ukrainian companies planning to enter or expand their operations in the Latvian market.
The forum was attended by government officials, diplomats, business representatives, and industry associations from both countries. The event was opened by Gennadiy Chizhikov, President of the Ukrainian Chamber of Commerce and Industry; Andris Spruds, Minister of Defense of Latvia; Serhiy Boev, Deputy Minister of Defense of Ukraine; and Andrejs Pildegovičs, Ambassador of Latvia to Ukraine. As the organizers noted, the forum was aimed not only at providing political confirmation of support for Ukraine but also at establishing practical mechanisms for cooperation between manufacturers, investors, and government institutions of the two countries.
On the Ukrainian side, the Ukrainian Council of Arms Manufacturers, the National Association of Defense Industries of Ukraine, the Federation of Employers of Ukraine, and “Technological Forces of Ukraine” joined the agreements. According to the Latvian side, the document is intended to serve as a tool for building a joint defense industry ecosystem that will combine the combat experience of Ukrainian manufacturers with Latvia’s technological and institutional potential. The Latvian Ministry of Defense emphasized that the memorandum provides for targeted state support for Ukrainian companies planning to launch or expand their operations in Latvia.
“The combat experience of the Ukrainian defense industry and Latvia’s technological potential are a powerful combination for joint development. The memorandum is not merely declarative but practical in nature and is intended to serve as a platform for creating innovative solutions that will strengthen the security of both countries and the capabilities of their armed forces,” noted Latvian Defense Minister Andris Spruds.
The Latvian Ministry of Defense also emphasized that the country aims to become a stable base for Ukrainian companies in Europe, while simultaneously developing its own industrial potential.
Gennadiy Chizhikov, President of the Ukrainian Chamber of Commerce and Industry, for his part, emphasized that deepening cooperation in the defense sector “strengthens our countries and industries.”
“The implementation of the agreements will take place with the participation of the Latvian Investment and Development Agency, as well as the Latvian Ministry of Economy and Ministry of Defense. This involves, in particular, promoting Ukrainian business in the Latvian market and supporting the development of a broader defense industry ecosystem,” he added.
The practical part of the forum included a bilateral business session and a panel discussion featuring Oleksandr Kamyshin, Advisor to the President of Ukraine on Strategic Issues; Vadym Yunyk, co-founder of Baltic Forces Hub; Ihor Fedirko, CEO of the Ukrainian Defense Industry Council; representatives of the Federation of Employers of Ukraine, Latvian business organizations, LIAA, DAIF Latvia, the Latvian Embassy in Ukraine, and private companies in the defense and technology sectors. This composition of participants indicates that the parties are striving to translate political support into concrete production, investment, and cooperation decisions.
Further confirmation of the practical nature of the visit came from the fact that the Latvian Investment and Development Agency had announced as early as the beginning of March a trade mission of Latvian defense and security companies to Kyiv for March 23–25, coinciding with the working visit of the Latvian Minister of Defense. The program included direct contacts with representatives of the Ukrainian defense sector and B2B meetings with potential partners. The forum in Kyiv thus became part of a broader effort to institutionalize Latvian-Ukrainian cooperation in the defense industry against the backdrop of the war and the growing role of this sector in the economies of European countries.
The event was organized by the Latvian Ministry of Defense, the Latvian Investment and Development Agency, and the Latvian Embassy in Ukraine, while the Ukrainian Chamber of Commerce and Industry served as a co-organizer, and the Ukraine Facility Platform acted as a partner for the forum. Given the content of the signed agreements, this is no longer merely a matter of Latvia’s political solidarity with Ukraine, but an attempt to establish a sustainable bilateral cooperation mechanism.
Interfax-Ukraine is the forum’s media partner.
