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Latvia has proposed abolishing a new route to residence permits through investment starting at €150,000 before it has even launched. Rules that took effect in September allow foreign nationals to obtain residence permits by investing in a special fund that has yet to be established. A group of lawmakers has opposed the scheme, warning that it could be used for money laundering and sanctions evasion.

New Rules for Investor Residence Permits in Latvia

Real Estate and Bank Deposits

Starting September 15, 2026, Latvia stopped issuing residence permits for property purchases worth €250,000 or more. The option to obtain a permit through a subordinated bank deposit of at least €280,000 was also abolished. The changes were introduced under the Immigration Law adopted by the Saeima on August 20.

Applications submitted before September 15 are being reviewed under the previous rules. For these investors, purchasing property or placing a qualifying bank deposit may still serve as grounds for a residence permit valid for up to five years. New applications under either route are no longer accepted.

Investment in Latvian Companies

The option to obtain a Latvian residence permit through investment in local companies remains available. The minimum contribution is €50,000 or €100,000, depending on the size of the business. An additional €10,000 payment to the state budget is required. Since September, the validity period of such permits has been reduced from five years to two. The number of employees, company turnover and tax contributions are also taken into account.

For Russian and Belarusian citizens, investment-based routes to residence permits have been closed since 2022. The 2026 reform did not restore access to these programs.

Latvia’s Fund-Based Residence Permit

The new law also provides for an investment residence permit in Latvia through the management company of a state-established alternative investment fund. Applicants must commit at least €150,000 for five years and make an additional €10,000 payment to the state budget. The permit can be valid for up to five years. Throughout this period, the investment agreement must remain in force and the invested amount must not fall below the required threshold.

Latvia’s new residence permit program is not yet operational. On September 15, the Office of Citizenship and Migration Affairs (PMLP) said the necessary fund had not yet been established. Applications were still not being accepted as of October 22.

Why Lawmakers Want to Abolish the Fund Scheme

Dispute Over Attracting Investors

Prime Minister Andris Kulbergs proposed the fund-based model as a way to attract foreign capital. Representatives of the Progressives and the National Alliance questioned its effectiveness, arguing that the terms were insufficiently developed and forecasts of demand lacked supporting calculations.

President Edgars Rinkēvičs proposed retaining residence permits based on property purchases for citizens of countries friendly to Latvia, but parliament did not support the initiative. The head of government also proposed granting tax residency in Latvia for €60,000 a year to foreign nationals already holding temporary residence permits. This idea has not become law.

Lawmakers’ Proposal

On September 3, five members of the Progressives party, led by Andris Šuvajevs, submitted Bill No. 1521/Lp14 to abolish fund-based “golden visas.” The proposal does not affect residence permits issued for investments in the share capital of Latvian companies.

The bill cites risks of money laundering, sanctions evasion and reputational harm to the country. The lawmakers also object to granting residence permits primarily on the basis of applicants’ financial means.

Consideration in the Saeima

On September 10, the Saeima referred the bill to abolish investment residence permits through the fund to the Defence, Internal Affairs and Corruption Prevention Committee. Sixty-five lawmakers voted in favor of the referral and 17 against. As of October 22, the amendments had not received final approval.

Elections in Latvia were held on October 3. The United List secured 41 seats in the Saeima, while the Progressives won 10. The Central Election Commission certified the results on October 16. The bill’s sponsors will need support from other parliamentary groups to advance their proposal.

What This Means for Investors

International Investment analysts note that political disagreements could weaken interest in Latvia’s fund-based program even if it eventually launches. The prospect of revising the law before the first applications are accepted makes it harder to attract capital for a five-year commitment.

The new mechanism would expand access to investment residence permits without requiring applicants to manage a local business. If it is abolished, direct investment in Latvian companies will remain the main option, narrowing the pool of potential applicants. Prolonged uncertainty could accelerate a shift in demand toward other countries with established investment residency programs.

Frequently Asked Questions About Latvian Residence Permits

Can I obtain a Latvian residence permit by buying property?

No. This route has been closed to new applicants since September 15, 2026. Applications filed earlier are assessed under the previous rules.

What investment in a company is required for a Latvian residence permit?

Applicants must invest €50,000 or €100,000, depending on the size of the company, and pay an additional €10,000 to the state budget. The permit can be valid for up to two years, subject to other requirements.

What are the requirements for a residence permit through the investment fund?

The minimum investment is €150,000 for five years, plus a €10,000 payment to the state budget. A temporary residence permit may be issued for up to five years, provided the investment is maintained.

Can I apply for a Latvian residence permit with €150,000?

Not yet. As of October 22, 2026, applications had not opened because the fund had not been launched.

Have fund-based golden visas been abolished?

No. On September 10, a bill proposing their abolition was referred to a parliamentary committee. The Saeima had not made a final decision as of October 22.

Are investment residence permits available to Russian and Belarusian citizens?

No. Investment-based routes have been closed to these nationals since 2022, and the 2026 amendments did not restore access.