Residence Permits
Residence Permit in Latvia Based on Bank Deposit Investment (Golden Visa)
Minimum deposit: €280,000. State contribution: €25,000. The funds are frozen for the full duration of the permit. This is one of the quieter routes to a Latvia residence permit — no business activity required, no local employment, no company to run.
Afortis provides legal and administrative assistance: we prepare and file your application. Applications are decided by the Latvian migration authority (OCMA), not by Afortis.
Overview
Latvia Residence Permit Through Bank Deposit: Key Facts
The legal basis is the Immigration Law of the Republic of Latvia (Imigrācijas likums). Qualifying investors receive a temporary residence permit (TRP) in Latvia, which carries full Schengen travel rights.
Who Is It For
Who This Route Is For
This option suits foreign nationals who have legally sourced capital and want to immigrate to Latvia and obtain an EU residence permit without setting up or running a business. In practice, it attracts private investors, families living on passive income, and international business owners who want a straightforward EU foothold.
Specific profile:
funds are of confirmed lawful origin
no intention to conduct active business in Latvia
interest in extending the permit to family members
preference for a fixed, transparent investment structure
Requirements
Deposit Conditions and Investment Amount
To qualify for a Latvia residence permit through bank deposit:
The deposit is fixed-term and remains frozen while the residence permit is in force. All transfers must be non-cash, with supporting bank confirmations attached to the application.
In practice, PMLP (Office of Citizenship and Migration Affairs) scrutinises the source of funds more closely than any other part of this application. Incomplete documentation here is the most common reason for delays.
Advantages
What the Latvia Residence Permit Covers
A TRP obtained through bank deposit investment gives you
Process
Processing Times
Standard review: 30 to 60 calendar days from submission.
If PMLP requires additional verification of the funds’ origin, that window extends. Build in extra time if the capital trail is complex or involves multiple jurisdictions.
Required Documents
Applicant Requirements
The applicant must hold:
Immigration and financial authorities verify all submitted documents.
a valid foreign passport
a clean criminal record
proof of income source
sufficient funds for living expenses in Latvia
valid medical insurance
confirmation of a registered residential address in Latvia (declaration of residence Latvia)
State Fees and Tax Treatment
Two mandatory payments apply:
- state contribution: €25,000
- standard document processing fees
Interest earned on the deposit is taxable under Latvian tax law. The investor’s individual tax status as a tax resident Latvia is assessed separately — there is no single blanket rate that applies to all cases.
What Comes Next
Path to Permanent Residency and Citizenship
The bank deposit TRP is a recognised legal basis for progressing to a permanent residence permit (PRP).
After five years of continuous residence and ongoing compliance with Latvian immigration requirements, the investor can apply for a PRP and, after that, for citizenship.
Why Latvia Residence Permit Applications Get Refused
The most frequent grounds for refusal:
- source of funds not adequately documented
- deposit placed with a bank that does not meet the programme’s criteria
- investment amount falls short of the threshold
- errors or inconsistencies in the submitted documents
- prior immigration violations
Each of these is avoidable with proper preparation before submission.
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