According to IMI Daily, Latvia's new Immigration Law closes the real estate and bank deposit residence routes on September 15, with applications filed through September 14 still assessed under the old rules.
According to IMI Daily, Latvia's new Immigration Law has been promulgated and enters into force on September 15, ending the golden visa's real estate and bank deposit routes after 16 years. Applications filed with the Office of Citizenship and Migration Affairs (OCMA) up to and including September 14 will still be assessed under the current rules. The Saeima adopted the law on June 11 by 65 votes to 17; President Edgars Rinkēvičs returned it for a second review, asking lawmakers to consider keeping a real estate route for citizens of EU, NATO, OECD and EEA states and other "friendly nations". Parliament re-passed the law on August 20 with minor refinements, including additional security vetting for investor applicants, but without the President's requested change. Under the outgoing statute, temporary residence is granted for a real estate purchase of at least €250,000 or a €280,000 subordinated bank deposit; both routes end on September 15. Two investment pathways remain. The company route continues at €50,000 in the equity of a small Latvian business, or €100,000 for companies with more than 50 employees and over €10 million in turnover, plus a €10,000 state payment in both cases, but the permit now runs two years instead of five. A new option is a €150,000 investment held for at least five years through a state-created alternative investment fund manager, also with a €10,000 payment and a permit of up to five years. Russian and Belarusian citizens are barred from both investment routes. The fund route may not be usable straight away. Viktorija Tomaševiča of EU Law Firm told IMI Daily that the vehicle behind it "does not appear to be fully operational yet", and the law gives the government until December 1, 2027 to adopt implementing rules, including the mechanics of the state-budget payment. Immigrant Invest said it is contacting clients whose cases are at an advanced stage so they can file by September 14, noting that a two-week timeline is realistic mainly where a property is already identified and documents are ready. This article is a factual summary of the reported changes, not legal advice; the final practical rules will depend on the Cabinet of Ministers regulations still to be published.