A perfect blend of Eastern European charm, innovation and progress and an affordable lifestyle that isn’t rushed like many Western European countries. Latvia is developing rapidly and becoming a place where many expats find a new life and opportunities.
Latvia has made an impressive recovery from the financial crisis; unemployment numbers have dropped dramatically and the average Latvian salary has doubled since the country joined the EU in 2013. Agriculture, forestry, chemicals and logistics are the four main industries in Latvia and Latvian high-tech innovations are appreciated all over the world.
More than a third of the country is covered with forests and although forestry is an important part of the Latvian economy, 20% of the country is protected. Latvia is also home to many rivers, lakes and beaches and with so many beautiful natural escapes around there are also plenty of ways to enjoy your surroundings in your spare time.
A third of the 2 million Latvians live in the capital city Riga, where renting an apartment near work is still possible and the public transport is well organised. It is one of the most promising cities in the Baltic region and a great choice for immigrants to start a new, comfortable life.
Latvia offers some of the most reasonable residency visas for investors in Europe. Latvia's programme was ranked 14 on the list of Henley & Partners 2017-2018 Global Residence Program Index, which evaluates world residence programs on a large number of factors such as quality of life, tax, visa-free access, time and effort required to get the visa. Here are some of the ways to get residency by investment in Latvia:
Do you have a great idea for a new business? Then the startup visa in Latvia may be for you. To qualify you need to have a business plan as well as at least €4560 worth of funds in your bank account to get you through the first twelve months. YOu also need to show evidence of residency in Latvia as well as some other requirements.
Latvian companies may hire a non-EU national if they cannot find a local suitable for a position. Immigrants from the EU do not need a work permit to work in Latvia. Third-country nationals need to apply for a work permit and a residence permit, supported by the future employer. Part of the work permit application process is having an invitation letter from the company. This letter, together with a number of other documents, must be submitted to the Office of Citizenship and Migration Affairs who reviews the application within two working days.
Citizenship by Naturalisation
The passport for Latvia allows you to travel to 154 countries without a visa.
Its global rank is 30.