Latvia may be one of the smaller EU member states, but it punches well above its weight in terms of strength of economy and standard of living, both of which it ranks high for. Latvia is also a stunningly beautiful nation, indeed one that anyone – yourself included – would be proud to be called a citizen of.
Latvia Citizenship Benefits In Summary
- Latvia Citizenship & Passport For €250,000
- Latvian Citizenship Granted 6 Months After Application
- Latvia Is A Respected EU Member State
- Latvian Passport Ranked 10th In The World
- Visa-Free Access To 179 Countries
- Freedom Of Movement Throughout All Of Europe
- Visa-Free Access To the US, Canada, Central & South America, Japan And Australia
How To Become A Latvia Citizen & Passport Holder
While Latvia does not have an official Citizenship by Investment program, they are prepared to amend their Golden Visa Residency Program for the right candidate, i.e., a foreign, non-EU entrepreneur who can not only match the asking price but shows the talent, hunger and potential loyalty to Latvia so that the successful applicant would be adding to the national economy as they climb the European business ladder.
Applicants for Latvia’s Citizenship by Investment program have three investment options available. They are as follows:
- Bank Deposit: The applicant must be prepared to deposit €300,000 into a Latvian government bank account which will be sealed for 5 years. The investment is fully refundable (although interest free) after completion of five years
- Real Estate Investment: The applicant must be prepared purchase real estate within Latvia’s borders of a minimum value of €250,000 (state fees not included) and maintain ownership for five years
- Business Consortium: The applicant must be prepared to be part of a consortium of business partners, each placing a minimum of €200,000 into a project that is approved by the Latvian government. The business must be maintained for a minimum of five years
Benefits Of Latvian Citizenship
There will be a great number of benefits to be had for successful applicants including:
- Powerful Latvian Passport
According to the Henley passport rankings for 2020, Latvia’s passport is ranked 10th in the world, with visa-free access to a very impressive 179 countries worldwide. Nations and areas that a Latvian passport holder can access without the need of a visa include the US, Canada, Mexico and all of Central and South America, Europe in its entirety, South Korea, Japan, Singapore and Malaysia, Australia and New Zealand
- EU Standard Of Living
Don’t be fooled by Latvia’s small size, when it comes to standard of living, Latvians are on a par with Germany, France, Holland and Sweden. Latvia’s healthcare system is excellent, as is their education system
- Freedom To Live Anywhere In The EU
Latvia is an EU member state, so as a Latvian citizen you would have the right to live and work – without time limitation – in any other European Union nation, including France, Germany, Spain or Italy.
As a Latvian citizen, you can choose to remain in Latvia, with its rapidly growing economy and favorable tax system. However, you may decide Latvia is a little quite, or small for your tastes, or maybe you would prefer a country with sun, sea and sand.
It is therefore your prerogative as an EU citizen to live in a large nation like Germany of France, or a hot country like Spain, Italy or Portugal
The Republic of Latvia is one of a trio of countries known as the “Baltics” or Baltic States, situated in an area of Northern Europe on the Baltic Sea coastline, the other nations being Estonia and Lithuania. Latvia is bordered by Estonia to the north, Lithuania to the south, Russia to the east, Belarus to the southeast, and shares a maritime border with Sweden.
While Latvians and Lithuanians are known as Baltic people, Estonians are Finnic, like the people from neighboring Finland. Other countries that border the Baltic Sea but are not considered to be Baltics are Denmark, Finland, Germany, Poland, Russia and Sweden.
Geographically Latvia is known for its long, wide, beautiful unspoiled beaches and its deep, dense forests. Latvia has a population of just under two million, and a landmass of 64,589 km2.
Russia granted Latvia independence in 1918, and it became a republic, although after WW2 it would once again fall under Russian/Soviet control. After the collapse of the Soviet Union in 1989, Latvia regained its independence and once again declared itself a republic, which it remains today.
Like many Northern and Central European countries, Latvia has taken steps to maintain its history and tradition. Some of the medieval architecture in Riga’s “Old Town” is truly remarkable, and Latvian festivals see the locals turn out in traditional dress to dance and perform ethnic music. Latvia is a Christian country, but it also embraces its historic belief in ritualistic paganism, which is often on display at such festivals.
Riga was named “European Capital of Culture” in 2014. Famous Latvians include the ballet dancer and Hollywood movie star Mikhail Baryshnikov, and reigning WBC cruiserweight boxing champion Marius Breidis.
According to a Human Development Report, Latvia belongs to the group of countries listed as being “of very high human development.” Its workforce numbers just under 1 million, and is highly educated, with almost 70% employed in the services sector. Latvia also has strong agricultural and industrial sectors, resulting in a solid export market.
Geographically, Latvia finds itself in an ideal trading location, within touching distance of major Western (Germany, Sweden) and Eastern (Russia, Ukraine) economies, and perched on the Baltic Sea, which in turns leads to the Atlantic.
Latvia is rapidly establishing itself as a one of Europe’s “tax-havens”, and is already favored by several major foreign holding companies. No doubt inspired by the examples set by other small countries including Ireland, New Zealand and especially Singapore, Latvia is pushing hard to establish itself as a Financial Centre, a “business hub”, setting itself up as a central trading post for multiple countries, where East can meet West and deals can be done, all in an authentic, friendly atmosphere.
Latvia is an open economy, and part of the European Union’s “Single Market”, which was created to promote ease of trade among EU nations. As well as the EU, Latvia is also a member of the World Trade Organization (WTO), and in 2014 became a member of the Eurozone, accepting the Euro as its method of currency.
Citizenship By Investment Programs
|Austria Citizenship Program||€250,000|
|Belgium Citizenship Program||€200,000|
|Bulgaria Citizenship Program||€65,000|
|Croatia Citizenship Program||€175,000|
|Czech Republic Citizenship Program||€200,000|
|France Citizenship Program||€200,000|
|Hungary Citizenship Program||€200,000|
|Italy Citizenship Program||€190,000|
|Mexico Citizenship Program||€120,000|
|Holland Citizenship Program||€175,000|
|Poland Citizenship Program||€175,000|
|Slovakia Citizenship Program||€52,000|
|Slovenia Citizenship Program||€50,000|
|Spain Citizenship Program||€200,000|
|Turkey Citizenship Program||€75,000|