Latvia: Startup Visa (Temporary Residence Permit)
Startup founders can receive a 3-year Temporary Residence Permit (TRP) in Latvia to develop their business.
Benefits
- Bring family
- Includes up to 5 founders
- Valid up to 3 years
- Startup support
- Tech savvy society
- Beautiful nature
Introduction
Latvia is a highly digital, forward-looking society with a trilingual, educated workforce, at the heart of the Baltic states and well-connected to the E.U. and North America. They have also thrown out the welcome mat for startups, with numerous meetups, 13 incubators and accelerators, concierge service for startup founders, and a $18 million startup fund.
Latvia has four beautiful seasons and abundant access to nature (87% of the country is either forest or seashore). Its capital city, Riga, has full wi-fi connectivity, a vibrant café and nightlife scene, and renowned museums, at a lower cost of living than many European capitals.
Internet Speed
Fixed broadband: 128.35 Mbps download/127.54 Mbps upload
Mobile: 42.04 Mbps download/10.86 Mbps upload
Cost of living
No. 58 globally
Requirements
Innovative, scalable, and high-value startup idea (often this is technology-related, but other types of business will be considered)
$7,185 bank balance
After 12 months, your startup should receive funding of $36,000 from a VC fund or $18,000 from an accelerator or business angel. If funding has not been acquired, submit business update for review—it is possible to renew your TRP even if you have not yet acquired funding.
Fees
- $136+ ($118 for processing and $18 for TRP card)
- $240+ for expedited service
Application Process
It is recommended (but not mandatory) to send your business idea to [email protected] for evaluation before you begin the application process. This business plan should include:
- Description of your idea and any technology involved (if applicable)
- Business model and profitability strategy
- Market research
- Competitor analysis and competitive advantages
- R&D plan
- Business activities for next 3 years, including investments
- Cost/income projections for next 3 years
- Pitch presentation
- Description of leadership team
Check this description of the business plan.
After you receive approval for your idea, you can apply through your local Latvian embassy or from within Latvia with the Office of Citizenship and Migration Affairs (OCMA). If you will apply from outside Latvia, contact your embassy for details of the process.
If you will apply within Latvia, make an appointment at your local OCMA office.
Arrive in person for your appointment with your appointment number, all documents, and a credit or debit card to pay the stamp duty ($118 for 30-day processing, $236 for 10-day processing, $473 for 5-day processing).
Wait for your decision letter. If your application is approved, give your fingerprints and pay the stamp duty for your TRP card ($18 for 10-day processing, $35 for 2-day processing). You will also submit additional documents related to your health and accommodation.
When your TRP card is ready, bring your decision letter and passport to the OCMA office. You will collect your card in person.
After your business is established in Latvia, you can apply for visas for up to 5 members of your leadership team.
Documents Required
- Passport
- Completed application form
- 1 passport photo (30 mm x 40 mm, on white background)
- Bank statement showing balance of $7,185
- Business plan
- Description of planned commercial activities in next 3 years (clearly listed)
- Certificate of clean criminal record (citizens of these countries are exempt from this requirement)
After your application is accepted, provide:
- Proof of health insurance
- Medical certificate confirming you do not have tuberculosis
- Accommodation details in Latvia
