Latvia’s new Immigration Law has been promulgated and will enter into force on September 15, 2026, bringing major changes to the country’s Golden Visa program. After 16 years, the law will close the real estate and bank deposit investment routes, while introducing a new investment fund option and maintaining the existing company investment route.
Applications submitted to the Office of Citizenship and Migration Affairs (OCMA) on or before September 14, 2026 will continue to be assessed under the current rules.
Real Estate and Bank Deposit Routes to Close
Under the current legislation, investors can obtain temporary residence through:
- €250,000 real estate investment
- €280,000 subordinated bank deposit
Both options will close when the new law enters into force on September 15, 2026.
Applications filed with OCMA by September 14 will still be assessed under the existing rules.
- Investment Routes Under the New Law
Two investment pathways will remain available after the reform.
- Company Investment
The existing company investment route will continue with two options:
- €50,000 investment in the equity of a small Latvian company.
- €100,000 investment in a company with more than 50 employees and annual turnover exceeding €10 million.
Both options also require a €10,000 state payment.
However, the residence permit issued through the company route will now be valid for two years instead of five years.
- New Investment Fund Route
The new law introduces a €150,000 investment fund option.
The investment must be placed for at least five years through a state-created alternative investment fund manager.
Investors must also make a €10,000 state payment, while the residence permit may be granted for up to five years.
Russian and Belarusian Nationals Excluded
The new legislation excludes Russian and Belarusian citizens from both investment routes.
This closes a gap in the original version of the law, which had temporarily left the new fund option open to Russian and Belarusian nationals.
Final Opportunity for Existing Real Estate Applicants
The September 14 deadline creates a limited opportunity for investors who are already advanced in the real estate process.
Advisers indicate that completing the process within the remaining period is realistically possible only for applicants who already have:
- A property identified;
- Their documents prepared; and
- The transaction at an advanced or final stage.
Starting a new real estate transaction from scratch is unlikely to be completed before the deadline.
New Fund Route May Not Be Fully Operational
Although the €150,000 fund route is included in the new law, its practical implementation may take additional time.
The investment vehicle does not yet appear to be fully operational, while certain details concerning source of funds, anti-money laundering requirements, and the state payment remain to be finalized.
The government has until December 1, 2027 to adopt various implementing regulations.
Therefore, although investors have a legal right to apply under the new route, they should not assume that the complete investment infrastructure will be available immediately on September 15, 2026.
Why the Real Estate Route Was Not Preserved
The President had asked Parliament to consider maintaining a real estate option for citizens of EU, NATO, OECD, EEA, and other “friendly” countries.
However, Parliament rejected the proposal.
Lawmakers increasingly viewed the real estate route as a security and migration risk, while political concerns surrounding the previous Golden Visa model and Russian investors also influenced the decision.
Summary
From September 15, 2026, investors will no longer be able to obtain temporary residence through the €250,000 real estate route or the €280,000 bank deposit route. The company investment route will remain available, while a new €150,000 investment fund route will be introduced.
However, the new fund route may not be fully operational on September 15, as the required investment infrastructure and implementing regulations are still being developed. Russian and Belarusian citizens will also be excluded from both investment routes.
