Latvia offers one of the cheapest startup visa pathways in the EU. The Startup Visa costs approximately €440 in government fees and grants a temporary residence permit. Latvia is a full EU member with a Baltic coastline and a growing tech ecosystem in Riga. After 7 years of legal residency, you qualify for Latvian (EU) citizenship.
Pros & Cons
Pros
Full EU member — cheapest startup visa in the EU at ~€440
7 years to EU citizenship
Baltic coastline and beautiful nature
Growing tech ecosystem in Riga
Low cost of living compared to Western Europe
English widely spoken in business
Cons
7-year citizenship timeline
Cold climate — long winters
Startup must be genuinely innovative
Latvian language required for citizenship naturalization
Smaller economy and job market
How to Complete the Process
Apply for Startup Visa through LIAA: Submit your startup application to the Investment and Development Agency of Latvia (LIAA) online. The application fee is ~€440. LIAA evaluates innovation, market potential, and team qualifications. Process takes 1–2 months.
Register your company in Latvia: Register your company with the Enterprise Register of Latvia. Cost: ~€150. The process takes 1–3 business days online.
Apply for temporary residence permit: Apply for a temporary residence permit at the Office of Citizenship and Migration Affairs (PMLP) with your Startup Visa approval, company documents, and proof of sufficient funds.
Establish your presence in Riga: Riga has a growing startup ecosystem with coworking spaces, accelerators, and networking events. The Teika and Centrs districts are popular with expats.
Apply for citizenship after 7 years: After 7 years of continuous legal residency, apply for citizenship at the Office of Citizenship and Migration Affairs. You'll need to pass a Latvian language test (B1 level) and a civic knowledge test.
Requirements Checklist
Apply for the Startup Visa through the Investment and Development Agency of Latvia (LIAA)
Startup must be innovative with growth potential
Demonstrate sufficient funds to support yourself (€430/month minimum)
Obtain a temporary residence permit based on startup ownership
After 7 years of continuous legal residency, apply for citizenship
Tax System
Tax System
Latvia has a 20% corporate income tax (applied only on distributed profits — retained earnings are not taxed). Personal income tax is 20–31% progressive. Latvia has an extensive double taxation treaty network as an EU member. EU VAT rules apply.
Frequently Asked Questions
Why is Latvia's startup visa so cheap?
Latvia's startup visa costs ~€440 in government fees — significantly cheaper than other EU startup visa programs. The low cost reflects Latvia's strategy to attract innovative entrepreneurs and grow its startup ecosystem.
What is the startup ecosystem like in Riga?
Riga has a growing startup ecosystem with several accelerators (Startup Wise Guys, Buildit), coworking spaces, and tech events. Notable Latvian startups include Printful, Accenture's Baltic hub, and several fintech companies.
Does Latvia allow dual citizenship?
Latvia generally does not allow dual citizenship for naturalized citizens. However, there are exceptions for EU citizens and for Latvians who emigrated before 1940. This is an important consideration before applying for Latvian citizenship.