How to sell property in Latvia as a foreign owner: process, tax and getting the money out

In brief

A non-resident can sell a Latvian home through a sworn notary, with a notarised power of attorney if you cannot attend. The usual path is a preliminary agreement with a deposit of 5-10% held at the notary, the sale agreement before the notary, then registration in the Land Register (Zemesgrāmata), reported as taking 1-2 weeks. Agent commission is 1-5% plus 21% VAT, usually paid by the seller. Gains are taxed at 25.5% (older guides still show 20%), with an exemption after 60 months of sole ownership or if you reinvest within 12 months. Since 19 June 2025 a Latvian law bars citizens of Russia and Belarus from acquiring real estate, so a buyer with those passports cannot register the deal. Checked on 7 November 2026 from search summaries only.

Can you sell a Latvian home from abroad?

Yes. A sworn notary verifies the identity of both parties and drafts and certifies the sale agreement, so you do not need to be in Latvia if someone with a notarial power of attorney acts for you. One guide says the Land Register accepts a power of attorney for changes to entries. We did not find a source on whether a power of attorney signed abroad needs an apostille or legalisation and a certified translation, so ask the notary before you sign it. If the seller is a company, the registry extract must be translated into Latvian and the translation certified by a notary.

For the wider picture of selling from abroad, read our step-by-step guide to selling property abroad and the general piece on how to sell property abroad. Background on the market is in the guide for foreign buyers in Latvia.

Documents to prepare before listing

• Your passport and proof of address.
• A certified Land Register extract: it shows the owner and any encumbrances, and the property can be found by section number, cadastral number or address.
• A notarised power of attorney if a representative acts for you.
• If a mortgage is registered, the lender's written release terms: ask the notary what the Land Register needs.
• Certificates from the building manager on utility and maintenance debts: this is usual practice, but we did not find an official list, so confirm with the notary.

Start with the Land Register extract: a surprise entry there stops a sale faster than anything else.

Step by step, with timing

The timings below are our estimates from practice, not official figures.

• Weeks 1-2: collect the documents, check the Land Register entry, and agree the power of attorney if needed.
• Listing and offers: one 2026 estimate says a correctly priced home in Riga needs 55-75 days to sell; a market report put the national average at about 47 days in December 2025. Homes often sell for 94-98% of the asking price.
• Preliminary agreement: a deposit of 5-10% of the price, held at the notary. One guide calls the agreement binding under Latvian civil law.
• Sale agreement before the notary, who handles the state duty and files the Land Register application.
• Registration: reported at 1-2 weeks.
• Payment and handover once the entry is made.

While the home is on the market and you are abroad, use a manager for viewings and keys: see property management for remote owners.

What it costs and who pays

Agent commission is 1-5% of the price plus 21% VAT (Riga guides give 2-5%), and the seller usually pays, though parties may agree otherwise. For the state duty and the notary the sources conflict: one guide gives a state duty of 2% and notary fees of 0.5-1.5%, another gives 0.1-0.5% for the notary, and a third mentions a 3.75% transfer tax that looks wrong. We therefore do not say who pays which cost. Ask the notary for a written estimate before you sign the preliminary agreement.

Tax in brief

The sources agree that a non-resident is taxed in Latvia on gains from Latvian real estate. A PwC summary gives a rate of 25.5%, while older tax cards and some guides still show 20%. The same summary describes an exemption when the property was held for at least 60 months and was your only real estate over those 60 months, or when you reinvest the proceeds within 12 months in real estate of the same function. KPMG tax cards also mention an option for a seller resident in the EU or a treaty country to pay 20% on the gain, and a 3% withholding on non-resident sales that can fall to 0% with a residence certificate under a tax treaty. Other guides describe completely different rules, for example no tax unless the home was held under 12 months. We could not confirm any of this with the State Revenue Service, so treat the numbers as leads and get a written answer from a Latvian tax adviser before you sign. If you live in another country, your home country may also tax the gain: see taxes when selling property abroad by country and, for owners in Latvia and Estonia, the guide to foreign property in your tax return.

Russian and Belarusian citizens: the buyer ban

On 19 June 2025 the Saeima passed a law banning citizens of Russia and Belarus, and companies in which they hold at least 25%, from acquiring real estate in Latvia. One law firm gives 3 July 2025 as the date it came into force. Deals made after that are reported to be invalid and cannot be entered in the Land Register. Exceptions are reported with different wording: inheritance from relatives or by court decision, permanent residents of Latvia buying one home for personal use, holders of EU or Latvian permanent residence, Belarusian refugees and repatriates. Property bought earlier is not affected, and there was a three-month transition period. We did not read the text of the law.

What this means for you as a seller: - If your buyer holds a Russian or Belarusian passport, or a company with 25% or more Russian or Belarusian ownership, ask the notary before you take a deposit: the deal may not be registrable. - If you yourself are a Russian or Belarusian citizen, the reports describe a restriction on acquiring, not on selling, so a sale to an allowed buyer is not described as blocked. Ask a lawyer to confirm for your case. - We found no source on how a sale affects a residence permit tied to property. A June 2026 report concerns limits on residence permits for Russians and Belarusians, not real estate. Speak to an immigration lawyer before you sign.

Getting the money out

The money normally goes to your own bank account. A Latvian law firm says banks in Latvia and elsewhere in Europe often refuse to open escrow accounts when one party is a Russian citizen, and many banks add their own limits on transfers, although this is a bank practice and not a legal ban. One Latvian outlet reports that an EU rule in force since 29 January 2026 requires enhanced checks without banning such operations. We did not confirm this with the regulation itself.

Prepare paperwork before the sale: the deed or contract by which you bought, proof of how you paid for it, the new sale agreement, your tax declaration for the gain, and your passport and address documents. Read how banks check this in bank checks for Russian citizens living in the EU and the notes on repatriating money after selling. If part of the original funds came from crypto, see source of funds and taxes for crypto. Decide early whether to convert at the bank or elsewhere; compare the rate and fee before the transfer.

Common mistakes

• Taking a deposit before checking the buyer's citizenship and ownership structure.
• Using the old 20% figure and then facing 25.5%.
• Assuming the 60-month exemption applies without checking the sole-property condition.
• Not asking the bank whether it will receive the proceeds and an escrow account.
• Signing a power of attorney that the notary or Land Register does not accept.
• Not getting a written cost estimate from the notary.
• Selling at the asking price without market data: homes often go for 94-98% of it.

Checklist with approximate timing

• Week 1: Land Register extract, check mortgage and debts, ask the bank about receiving the money.
• Weeks 1-2: tax adviser written answer on the rate and exemption; power of attorney if needed.
• Listing: 47-75 days is the range reported for Riga and the country.
• On an offer: check the buyer's citizenship and company ownership, then sign the preliminary agreement with a 5-10% deposit.
• Sale agreement before the notary, then the Land Register application.
• Registration: 1-2 weeks reported.
• After the sale: tax declaration, transfer, and keep every document.

FAQ

Can I sell a flat in Latvia without going there? Yes, through a notary and a notarised power of attorney. Ask the notary whether a power of attorney signed abroad needs an apostille and a certified translation.

How much tax do I pay on the sale? One summary gives 25.5% on the gain, older guides 20%, with an exemption after 60 months of sole ownership or on reinvestment within 12 months. Sources conflict, so get a written answer from a Latvian tax adviser.

Can I sell to a buyer from Russia or Belarus? Since the 2025 law such a buyer cannot register a purchase, with reported exceptions such as inheritance from relatives. Check with the notary before you take a deposit.

Will my bank accept the proceeds? Banks apply enhanced checks to clients from sanctions-affected jurisdictions and often refuse escrow accounts. Prepare source-of-funds documents and ask the bank in writing beforehand.

What happens to my residence permit if I sell? We found no source on this. Ask an immigration lawyer before you sign the preliminary agreement.

This article is general information based on public guides and news. It is not legal or tax advice. Before you sign, check the current rules with a Latvian notary, lawyer or tax adviser.