Buying property in Latvia with crypto: how the deal actually works in 2026

In brief

As of November 2026, the first question for a citizen of Russia or Belarus is not how to pay but whether a purchase is allowed at all: in June 2025 the Saeima passed a law, reported at 69 votes to 8, that bars citizens of Russia and Belarus, and companies in which they hold at least 25 percent or are beneficial owners, from buying, receiving as a gift or exchanging real estate in Latvia. For everyone else, paying with crypto is not reported as forbidden, but the deed, the land book and the bank all work in euros, so coins only fund a euro price, usually after conversion through a provider authorised under MiCA. A tax of 25.5 percent on gains is reported. Not legal or tax advice.

Read this first: who may buy at all

Reports on the June 2025 law agree on its core and differ on details. It is called "On Restrictions on Transactions Threatening National Security". As reported, it bars citizens of Russia and Belarus, and legal entities in which they hold at least 25 percent of the share capital or are beneficial owners, from acquiring real estate by purchase, gift or exchange. Inheritance from relatives or by court decision is reported as still allowed. Exceptions are described with different wording: people with permanent residence in Latvia or in an EU state issued before the law came in, EU citizens, and some refugees. We did not read the text of the law, we did not confirm its entry-into-force date, and we did not find later amendments.

What this means in practice: if you hold a Russian or Belarusian passport, check your status with a Latvian lawyer before you convert a single coin. If you hold another passport, the rest of this article applies, but a notary or bank may still ask about beneficial owners and about the nationality of anyone who funds the deal. Our general article on restrictions by passport is buying property abroad with a Russian passport: country restrictions.

What "buying with crypto" means in Latvia

Most readers who ask this hold coins on an exchange or in a wallet and want a flat in Riga, Jurmala or Liepaja. Two different things hide behind the phrase. In one, a seller or agent says they "accept crypto" and the conversion into euros happens behind the scenes. In the other, you convert the coins yourself through an authorised provider, hold euros in a bank account in your name and pay from that account. The second is the one we could document. We found no developer in Latvia that accepts coins in 2026. Older reports from 2018 mention penthouse offers for bitcoin at a Latvian brokerage, and we cannot say whether they still exist. Even the best-known blockchain pilot, a land purchase in Valka on the Propy platform, was reported as paid through online banking, with the notary confirming identity by video call.

The contract price and the entry in the land book are in euros. For the general picture first, read buying property with cryptocurrency: how it works, countries and risks.

What is confirmed and what is not

Reported by press, law-firm notes and guides, not read in the law or on an official page:

• Ownership is recorded in the single computerised land book, the Zemesgrame.
• A notary is involved, but guides differ on how much: signatures on the land book application only, or the agreement signed before a notary.
• Crypto-asset service providers are supervised by the Bank of Latvia under MiCA, and the EU-wide transition for existing providers ended on 1 July 2026.
• Capital gains, including crypto gains, are taxed at 25.5 percent according to the PwC summary; some guides still show 20 percent.

Not confirmed: any rule that forbids or allows paying the seller in coins; any list of documents a Latvian notary asks for crypto money specifically; the current fee schedule. Ask the notary and the bank in writing.

The structure that works: euro price, crypto only as settlement

Write the price in euros. Convert the coins into euros through an authorised provider, receive the euros in a bank account in your name and pay the seller from that account. If the seller accepts part of the payment in coins, the contract must say which asset, at which rate, fixed at which moment and who bears the difference. A price written in coins turns every day into a renegotiation and gives the other side a reason to walk away.

Who may convert: authorised providers

Under MiCA, a crypto-asset service provider authorised in any EU state can serve the whole union. For Latvia, the Bank of Latvia is described as the single competent authority. The Latvian transition end date is given differently by different law firms, and the EU-wide outer limit was 1 July 2026. One newsletter reports four licences issued in June 2026. Check the register of authorised providers on the regulator's website, not the provider's own page, and keep a screenshot with the date.

Notary, land book and the payment trail

In Latvia the buyer files for entry in the land book, and guides describe the notary's role as confirming identity and signatures. Costs conflict between sources: one guide gives a 2 percent state duty on the property value at registration and notary fees of 0.5 to 1.5 percent, another gives a flat 50 to 200 euros for the notary. Treat both as indicative and get a written quote. Non-EU buyers cannot buy agricultural or forest land, and municipalities may have to approve land purchases. For the practical background, see buying property in Latvia: a guide for foreigners.

Tax: 25.5 percent as reported

According to the PwC tax summary, Latvia taxes capital income and capital gains at 25.5 percent, treats crypto as a capital asset and matches crypto gains against crypto losses. The same source says gains of non-residents on publicly traded crypto are exempt from a 3 percent tax until the end of 2027. Some guides still show 20 percent. Converting coins to euros to pay for a flat is, in most systems, a disposal, so the gain may be taxable even if you never touch cash. Confirm the rate and your status with the State Revenue Service or a tax adviser. For the wider picture see source of funds and taxes when buying property with crypto.

What it costs: a worked example

An illustrative example, not a quote. A flat priced at 150,000 euros. Assumptions: a conversion spread and fee of 1 percent, which is our assumption because no sourced range was found; a 2 percent state duty and notary fees of 0.5 to 1.5 percent, both taken from one guide and marked indicative.

• Conversion cost at the assumed 1 percent: 1,500 euros.
• State duty at the reported 2 percent: 3,000 euros.
• Notary fees at the reported 0.5 to 1.5 percent: 750 to 2,250 euros (the other guide says 50 to 200 euros).
• Price moves while you complete: if the coins you hold fall by 10 percent between signing and payment and the price is fixed in euros, you are short 15,000 euros.

AML and source of funds

Guides agree on one thing: the most common block for a non-resident buyer is the bank, the notary or the seller asking for a complete source-of-funds and identity file before completion. For crypto this means the origin of the coins, exchange statements, the conversion and the account in your name. A checklist is in proving crypto income to banks and notaries. If you want the Dubai version of the same deal, read buying property in Dubai with crypto.

Red flags

• A seller who insists on coins only, at a discount, or on a price written in coins.
• A "developer" or agent who cannot name the authorised provider that will convert the funds.
• An offer to avoid the notary or the land book.
• A promise that a Russian or Belarusian passport "is not a problem" without a lawyer's written confirmation.
• Pressure to send coins before the contract and the title checks.

Step by step

• Check your status under the 2025 law with a Latvian lawyer, in writing.
• Agree the price in euros and the payment terms in a reservation agreement.
• Choose an authorised provider and check the register.
• Prepare the source-of-funds file before you convert.
• Convert, receive euros in your own account, pay the seller from it.
• File for the entry in the land book and keep every statement.
• Report the disposal and the gain in the country where you are tax resident.

Common mistakes

• Converting first and checking eligibility later.
• Moving coins to a new wallet just before the deal, which breaks the paper trail.
• Believing "crypto is anonymous" and skipping the file; see the myth that crypto is simpler and anonymous.
• Relying on a broker's phone call instead of a lawyer's letter.

For the next steps after a purchase, see the first 30 days in Latvia and the Baltic markets compared.

FAQ

Can a Russian or Belarusian citizen buy a flat in Latvia with crypto? As reported, a 2025 law bars citizens of Russia and Belarus from buying real estate, so the payment method is the second question, not the first. Exceptions are described differently by different sources, so get a lawyer's written view.

Can I pay the seller directly in Bitcoin? We found no rule that forbids or allows it, and no Latvian developer accepting coins in 2026. The deed and the land book work in euros, so the safe structure is a euro price funded by converted coins.

Does the provider need a licence? Since the end of the EU transition on 1 July 2026, crypto-asset services must be provided under MiCA, and the Bank of Latvia is described as the Latvian authority. Check the register before you send anything.

What tax do I pay when I convert coins to pay for the flat? Latvia is reported to tax capital gains, including crypto, at 25.5 percent, with some guides still showing 20 percent. Non-residents' gains on publicly traded crypto are reported as exempt from a 3 percent tax until the end of 2027.

Will the notary ask where the money came from? Guides say that notaries and banks ask for a source-of-funds and identity file, and that transfers from outside the EU may bring more requests. Prepare the file before you convert.

Not legal or tax advice. Rules and rates change; check them with a Latvian lawyer and a tax adviser before you pay.