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Latvia’s Golden Visa Offering Stability Amidst the Chaos

EU Law Firm

Investment migration is witnessing rapid change. Major superpowers like the EU, USA, and UK are leaving their mark on Residency and Citizenship by Investment (RCBI) programs and inflicting serious regulatory changes that have left investors distrusting the entire concept.

Portugal’s government has continuously changed its Golden Visa throughout the past three years. Greece has implemented a second price change in as many years, and Malta is still going to court against the EU to defend its Citizenship by Investment Program (CIP).

On the other edge of the map, Caribbean CIPs are scrambling to adopt significant changes of an MoA that they would not have signed if it wasn’t for mounting pressure from the EU and USA, who are now freely meddling in the Caribbean’s CIP affairs.

Antigua & Barbuda, Dominica, and Grenada are following in St Kitts & Nevis’ footsteps and doubling their minimum investment thresholds in a bid to appease the EU. 

St Lucia claims it wants to sign the MoA and follow suit, but there is no concrete – or at least public – evidence that they are actively pursuing the matter.

Caribbean governments are doing all this to save their programs and maintain their visa-free access to the EU because if they lose it, the value of their passports, where potential investors are concerned, would significantly drop.

Hence, one must ponder a simple question: Why buy into all this madness when a stable, simple, and affordable option already exists? Latvia’s Golden Visa is a beacon of stability in a chaotic landscape of regulatory changes and price hikes. It is the ultimate solution.

Stable and Beneficial

Latvia’s Golden Visa has barely undergone any changes since the government introduced it in 2010. This decade and a half of stability is rare within the investment migration industry, and right now, it is the most valuable aspect an RCBI program can possess. 

Last year, Portugal’s government floated the idea of applying retroactive changes to its Golden Visa holders. The President’s Office didn’t approve the law, and Parliament changed it afterward.

St Kitts & Nevis suddenly doubled its minimum investment thresholds without warning and with immediate effect. Some investors may have been preparing to submit their application that same day, only to find they were now at least $100,000 short.

It is that instability, that potential of risk, that makes investors think twice about investing in any given program. 

Latvia doesn’t have that problem. The government may not have marketed its Golden Visa as effectively as its EU counterparts, mainly because it is content with letting investors come to it organically.

The Latvian government has perfected its Golden Visa to the degree that it doesn’t face any public backlash and maintains a competitive housing market that can benefit both applicants and the economy.

It is the ultimate program for investors wanting to establish a foothold in Europe. Latvia’s Golden Visa provides visa-free access to the Schengen Area, but it has a much stronger bond than the Caribbean. 

The EU is proposing a law under which it can revoke visa-free access if a country operates a CIP. Only time will tell if this proposal becomes regulation. Still, the mere thought of it happening highlights why Golden Visas are the better option for investors seeking unhindered access to the Schengen Area.

Latvia is a member of the Schengen Area. Latvian residents are part of the bloc. Losing visa-free access isn’t even a rational thought at the moment. 

Furthermore, having a residency permit in Latvia gives investors access to the EU market, not just its tourist destinations. Latvian Golden Visa holders can build an entire infrastructure in the EU.

Smart Investments in a Stable Market

The Golden Visa’s price points also put it at the top. Starting at €50,000 share investments (with an additional €10,000 in fees), Latvia’s Golden Visa requires an outlay that is nearly a quarter of what Caribbean CIPs will cost in July.

The Golden Visa’s real estate option, starting at €250,000, is also better than what other EU Golden Visas can offer.

Portugal has no real estate option left within its Golden Visa, while Greece has increased the minimum to €400,000 and €800,000, depending on the area.

Greece has a €250,000 option, but it is limited to restored, listed properties or commercial properties that a developer has converted to residential. 

While Greece can match Latvia’s valuation, the €250,000 option’s Frankensteinish nature may not entice investors who want to invest in a sound, profitable asset.

Latvia’s €250,000 valuation aligns with its housing market and provides investors with more options. The current economic situation in Latvia also provides investors with a unique opportunity.

As Latvia’s government continues to curb inflation, home prices in Riga, the capital, have dropped 8.42%. This opens the door for investors to buy properties at bargain prices. 

Rental yields remain strong in Riga, though, ranging between 4.9% and 9.6%. Property investments in Latvia are smart ventures, and the stability of its Golden Visa adds another layer of personal and financial security.

Among all the chaos, Latvia provides prospective investors with the stability, profitability, and benefits they need. To learn more about the Latvian Golden Visa, you can contact us via our website or email us directly at investments@eulawfirm.eu