Parliament Approves, President Returns for Review
On June 11, 2026, Latvia's Parliament passed amendments to the Migration Law to make significant changes to the country's investment residence program. On June 19, 2026, Latvia's President returned the law to Parliament for second-round consideration.
If signed, the changes will take effect on January 1, 2027 and will eliminate the real estate investment, government bonds, and bank deposit pathways, leaving business investment as the sole option.
In an official statement, the President emphasized the need to review residence terms related to investment, including the proposed fund pathway and related compliance issues. This means the final version, official start date, and complete operational procedures remain pending, and investors should not consider the proposed rules final until official implementation guidance is released.
However, Parliament voted in June 2026 to eliminate the real estate, government bonds, and bank deposit pathways, and the real estate pathway is expected to close on January 1, 2027 if the President signs the June 2026 bill. The market is treating this as a genuine countdown.
The Cheapest EU Program and Where It Stands
Latvia currently offers the cheapest Golden Visa program in the European Union, with a minimum investment of €50,000 in a Latvian company. Investment options include €50,000 for business, €250,000 for real estate or bonds, or €280,000 for bank deposits.
According to the latest data released on February 8, 2026, Latvia's Golden Visa program approved 201 applications in 2025, an increase of approximately 34.9% compared to 2024 (149 applications for all of 2024). Of these, 41 were real estate applications in 2025, accounting for 48% of total investment residence permits, up from 29% in 2024, followed by business investment with approximately 42 applications.
This number is small compared to Greece or Portugal, but is growing steadily — and that is precisely why new legislation has been introduced.
What Changes Are Being Proposed
The 2026 Latvia Golden Visa update primarily shifts the program away from passive investment pathways and toward structures that demonstrate clearer economic contribution to Latvia.
If the legislation passes:
- Real estate, government bonds, and bank deposit pathways will be eliminated
- The validity period of a residence permit obtained through business investment will decrease from 5 years to 2 years
- To be replaced with a new €150,000 investment into an alternative investment fund established by the state, along with a €10,000 government contribution
This means investors may have until the end of 2026 to file applications under current rules. Anyone who receives a permit under current rules will retain full 5-year validity, and for those attracted to the €50,000 threshold, this suggests acting under current rules rather than waiting.
Why Latvia Is Doing This
Latvia is not alone in closing. Spain, the Netherlands, Ireland, and the United Kingdom have all closed their Golden Visa programs since 2022. Only eight European Golden Visa programs remain open in 2026: Portugal, Greece, Italy, Hungary, Bulgaria, Latvia, Malta, and Cyprus.
EU pressure on national security and money laundering is increasing. Latvia was previously criticized for lax due diligence standards. Retaining only the business pathway — which requires actual operations, revenue, and tax payment — is how the program survives in the current political environment.
What remains on the map is a smaller set of more expensive programs with tighter oversight.
Points to Watch
As of mid-2026, Latvia's Golden Visa has not closed, but the program is in a phase of legal transition. This means the proposed changes are significant but not fully settled, and for investors, the main point is simple: current pathways must be carefully examined, proposed pathways should not be considered operational until final rules are confirmed, and any application should be prepared with strong legal guidance and compliance.
Several points to note:
The law is not yet in effect. The President has returned it. Parliament could amend it, or pass it again unchanged. No one knows for certain when it will be signed.
Transition provisions are unclear. The government is still considering transition terms for applications filed before the new law takes effect. If you submit a real estate application in December 2026 under current rules, will it be processed under the old law or rejected? No official answer yet.
Processing time still matters. Latvia Golden Visa takes 2-4 months to process, largely because the program has minimal backlog as investor momentum builds. If you want to ensure your application is submitted before January 1, 2027, do not wait until November.
€50,000 is not the total cost. It is the minimum capital investment into a company. Capital must go into an actual Latvian business entity, not a passive holding structure, and the company must meet specific criteria including minimum revenue thresholds or tax payment minimums. You will need a lawyer, accountant, company formation fees, and application fees. Total cost typically runs double the minimum figure.
Who Should Consider This
If you are weighing Latvia because of the €50,000 price point or because you want the €250,000 real estate pathway with no regional restrictions like Greece has, this is the time to decide.
If you simply want Schengen residence and are willing to accept the legal risk ahead, Latvia is still open — but the door is closing. Despite ongoing discussions, Latvia remains one of the most affordable and fastest residence-by-investment programs in Europe, particularly for investors seeking flexibility and Schengen access.
But if you need certainty and do not want your application stuck between two legal regimes, Greece, Portugal (fund pathway), or Malta may be more stable in 2026.