Latvia Overview
Latvia is a country in Northern Europe, situated on the Baltic Sea. The official language is Latvian, but Russian is also widely spoken by most of the population. Known for its rich heritage, incredible local cuisine, and stunning mix of art nouveau and medieval architecture, Latvia attracts visitors from all over the globe.
Riga is the cosmopolitan capital and largest city of Latvia. Moreover, it is the political, economic and cultural center of this small, but proud country. Today, more than a third of the country’s population lives and works in Riga. Latvia has been a member of the United Nations since 1991, and a member of the European Union and NATO since 2004. In 2007 Latvia joined the Schengen Area, which brought significant benefits to its citizens and residents.
The Latvia Residence-by-Investment Program is one of the most affordable and fastest options in Europe. The program was launched in July 2010 by the Latvian Government. Foreign nationals may apply for the residence permit in Latvia through the purchase of real estate; by making a financial investment in a Latvian credit institution (subordinated loan or subordinated bank bonds); investing in the equity capital of an enterprise; or purchasing interest-free government bonds.
Latvian citizenship
After five years, the holder of a temporary residence permit may apply for permanent residence. To qualify for a permanent residence permit, the candidate must physically reside in Latvia for four out of the last five years and successfully pass the state language proficiency examination.
Citizenship can be obtained after 10 years of legal residence in Latvia if the applicant has been a permanent resident for the last five years preceding the date of submission of the application. To qualify for citizenship, the applicant must physically reside in Latvia for at least four out of the last five years.
Latvia does not allow dual citizenship.