This country launched its golden visa program in 2010. The program gives the investors a five years residency permit as long as the applicant invests €250,000 in real estate. A new limit introduced in 2014 stipulates that the minimum investment limit applies to the first 800 applicants. After the 800, the limit rises to €500,000 with an additional administrative processing fee of €25,000, which is 5% of the property value.
Latvia is one of the Schengen visa zone countries and part of Europe. The visa enables the owner to travel everywhere in the EU Schengen zone. Applicants are qualified for permanent residency after five years as long as they have lived in Latvia for most of that period. After ten years of residing in the country, an applicant can apply for citizenship.