Lets chat here! How can we help you?

Latvia Proposes Major Changes to Its Golden Visa Program, but New Law Awaits Final Approval

Investors considering Latvia’s Residence by Investment Program should keep a close eye on the country’s latest legislative developments. Latvia’s Parliament has approved a bill that would reshape the program by removing the real estate and bank deposit investment routes and introducing a new investment fund option.

The proposal, however, has not yet taken effect. Instead of signing the bill into law, President Edgars Rinkēvičs has returned it to Parliament for a second review. Until the legislative process is complete, the existing investment options continue to apply.

Parliament Approves Major Changes

On 11 June 2026, Latvia’s Parliament (Saeima) passed amendments to the Immigration Law with a vote of 65 to 17. The proposed legislation introduces several notable changes to the country’s Residence by Investment Program.

If approved after the second review, the amendments will:

Remove the real estate investment route.
Eliminate the subordinated bank deposit option.
Introduce a new state-backed investment fund pathway.
Retain the business investment route, while reducing the initial residence permit validity from five years to two years.

Real Estate and Bank Deposit Routes Proposed for Removal

The proposed law would discontinue two of Latvia’s long-standing investment options.

The real estate pathway, which currently allows eligible foreign investors to obtain residency through a qualifying property investment, would no longer be available for new applicants. Likewise, the subordinated bank deposit route would also be removed under the proposed framework.

Applications submitted before the new legislation takes effect are expected to continue under the existing rules.

New State-Backed Investment Fund Introduced

A key feature of the proposed amendments is the introduction of a new investment route through a state-managed alternative investment fund.

Under the proposal, investors would contribute a minimum of €150,000 to the fund, maintain the investment for five years, and pay an additional government contribution.

However, the proposed fund has not yet been established. Additional legislation will be required before this investment pathway becomes operational, meaning it is not currently available to applicants.

President Returns the Law for Reconsideration

Although Parliament approved the amendments, President Edgars Rinkēvičs has not signed the legislation into law.

Instead, he returned it to Parliament for a second review, raising concerns about certain provisions, including the operation of the proposed investment fund and other legal aspects of the amendments.

As a result, the proposed changes have not entered into force, and the existing Latvia Residence by Investment rules continue to apply until Parliament completes the legislative process.

What This Means for Investors

At this stage, prospective investors should note that Latvia’s current Residence by Investment Program remains unchanged.

While Parliament has proposed significant reforms, the legislation is still under review and may be amended before receiving final approval. Investors considering Latvia should continue to monitor official developments before making investment decisions based on the proposed framework.

How UNO Capital Can Help

Immigration regulations can evolve quickly, making it important to stay informed before making an investment decision. At UNO Capital, we support investors by:

Monitoring global Residence and Citizenship by Investment program developments.
Providing timely updates on legislative and regulatory changes.
Explaining how policy changes may affect investment options and eligibility.
Offering personalized guidance based on the latest official information.
Assisting clients throughout the residency application process.

Our team continues to closely monitor the progress of Latvia’s proposed immigration reforms and will provide updates as further developments emerge. Contact us today!