Old Riga · Latvia
Photo: Old Riga panorama by Hajotthu, CC BY-SA 3.0 (resized), via Wikimedia Commons
€50,000 into a nine-year-old Latvian company. €10,000 to the Latvian state budget. A Schengen residence card in your name within 30 days of filing.
A five-year Temporary Residence Permit in Latvia, renewable or convertible to permanent EU residence, for you, your spouse, and your children under 18. The permit gives you the right to live anywhere in Latvia and travel freely across the 29 Schengen countries plus Norway, Iceland, Switzerland, and Liechtenstein — no physical residency in Latvia is required to keep the permit valid.
You receive this by subscribing €50,000 into the share capital of an established Latvian company, plus €10,000 to the Latvian state budget. Your name is registered as a shareholder in the Latvian Company Register.
At the end of your engagement, once you have earned your permanent residence, the company buys your shares back for €1 and the transaction closes. The €50,000 was, economically, the price of the residence — not a refundable investment. This is disclosed in your shareholder agreement and on this website. It is not a surprise.
Portugal's Golden Visa rose to €500,000 and removed real estate in 2023. Greece raised its minimum to €800,000 in the main zones in 2024. Malta's programme costs over €700,000 all-in. Latvia remains at a total investor outlay of roughly €63,000 — four to thirteen times cheaper than every other regulated EU investor-residence programme currently open.
A Latvian residence card is an EU/Schengen residence card. You can fly, drive, or train across France, Germany, Italy, Spain, the Netherlands, Austria, Switzerland, Norway — twenty-nine countries — without a separate visa. You can place children in European schools and bank in euros.
After five years of lawful residence, EU law entitles you to apply for permanent residence under EU long-term resident status — a right you carry for life. Latvia is one of the few EU states where this five-year clock runs even if you are not physically present in the country.
This is the single most important section on the page. Every fee is shown, every recipient is named, and every refund status is honest.
| Item | Amount (EUR) | Paid to | Refundable |
|---|---|---|---|
| Share capital subscription into SIA "Las Palmas" | 50,000 | SIA "Las Palmas" | No* |
| State budget contribution | 10,000 | Ministry of Finance, Latvia | No |
| Legal fees (filing, contracts, OCMA) | 3,000 | Mārtiņš Grīnbergs, sworn advocate | No |
| State processing fee — standard (30 days) | 160 | OCMA | No |
| State processing fee — accelerated (10 days) | 260 | OCMA | No |
| State processing fee — urgent (5 days) | 560 | OCMA | No |
| Total all-in, standard processing | ~63,160 | — | — |
| Total all-in, urgent processing | ~63,560 | — | — |
* Figures in euros. Does not include translation/apostille of documents (~€200–500), flights to Riga for card collection. We do not charge a separate service fee on top of the figures in this table.
At the end of your engagement, once your permanent residence is secured, SIA "Las Palmas" will buy your shares back from you for €1 nominal consideration. This is a clean legal exit, written into your shareholder agreement before you pay. In economic substance, the €50,000 is the fee for the residence — disguised as equity only because Latvian law requires this route to take the legal form of a share subscription. If this structure is not acceptable to you, do not apply. We would rather lose a client at the information stage than have a misunderstanding five years from now.
You will meet us by video call before you pay anything. We require it.
This is a 30-minute video call, in English, with Jānis personally. We answer every question — about the programme, the fees, the €1 buyback, your specific situation. We do not take a deposit, send a contract, or put you on a mailing list.