The minimum ‘Golden Visa’ property investment in Latvia is being doubled from €71,000 to €150,000, plus a €25,000 fee and is limited to only 800 applicants a year, before rising to €500,000
The Latvian ‘Golden Visa’ – which is among the fastest and cheapest options in Europe – is doubling its minimum property investment requirement.
Investors have previously been able to obtain a Latvian ‘Golden Visa’ entitling them to five-year residency permit and access to other Schengen countries across Europe for an investment of around €71,000 (50,000 Lats) in the provinces or just under €145,000 (100,000 Lats) in the main cities.
But now the minimum investment will be €150,000 for the first 800 Golden Visas every year, plus a €25,000 government fee – and once they are taken, the minimum investment rises to €500,000.
Lars Gehrmann, from www.Golden-Visa-Europe.com, which specialises in the property-for-residency scheme in various European countries, tells OPP Connect, “There are two classes of investors. The ones that really want the ‘Golden Visa’ – they tend to go to Latvia and Malta.
“Then there are people looking for a safe place for their money and who want to invest in real estate; for them, the ‘Golden Visa’ comes as a bonus. …read more