What happens after obtaining a residence permit: rights, obligations, and opportunities
Obtaining a residence permit in Latvia through investment is an important step, but it does not end the process — it opens a new chapter. Many investors ask: What now? What rights does the residence permit provide? What obligations arise? Is it necessary to live in Latvia? How can this status be used effectively?
In this article, we provide clear answers to these questions.
🛂 What a residence permit in Latvia provides
A residence permit issued based on investment provides:
- Legal right to reside in Latvia for 5 years;
- Free movement within the Schengen area up to 90 days in each 180-day period;
- Access to medical insurance, banking, and administrative services;
- Possibility of legally accompanying family — spouse and children under 18 also receive a residence permit.
Important: The residence permit does not provide the right to work as an employee in Latvia, but allows you to own a business, be on the board, or act as a consultant.
📍 Investor obligations
The Latvian program is one of the most lenient in the EU, but still includes several requirements:
- Maintaining the investment for 5 years (equity in the company);
- Valid insurance policy (usually ~€150–300 per year);
- Residence/registration address in Latvia (can be rented);
- Updating information in OCMA if personal data, address, or passport changes.
Important: There is no requirement to reside in Latvia for a specific number of days per year. This means the residence permit can be used as a “base” for free movement and business in the EU without changing tax residency.
💼 What can be done with this status
- Visit up to 29 European countries without visas;
- Conduct business in Latvia and the EU through a local company;
- Receive income from business participation (dividends) incorporated in Latvia;
- Use the status to open accounts in European banks, rent property, and access other legal and administrative services.
🧭 What will happen in 5 years?
In 5 years, an investor can:
- Apply for residence permit renewal (if investment is maintained);
- Or exit the project, receiving €25,000 return (if provided in the agreement);
- Start the process of obtaining permanent residence or citizenship — upon meeting conditions (residency, language, integration).
Conclusion
A Latvian residence permit is not just an immigration document, but a tool for personal and financial flexibility in Europe. With the right structure and support, you gain freedom of movement, business opportunities, and legal protection — without the need to change your lifestyle or country of permanent residence.