Latvia’s planned update to its investment immigration system has been delayed. On June 19, 2026, President Edgars Rinkēvičs declined to sign the newly passed Latvia immigration law into effect, sending it back to parliament (Saeima) for further review.
The parliament had previously approved the law on June 11 with a 65-17 vote to replace the old rules from 2002. However, because the parliament’s spring session ended on June 18, lawmakers will not reconsider the law until the autumn session later this year.
The Proposed Changes to the Golden Visa
The bill passed by the parliament brings a major structural change to Latvia’s residence-by-investment framework, focusing on three main actions:
- Ending Property and Bank Investment Routes: The new law will completely remove the popular €250,000 real estate purchase route and the €280,000 bank deposit route. Applications accepted before the new law takes effect will still follow the old rules.
- Creating a New €150,000 State Fund Option: Foreigners can get a 5-year residence permit by investing at least €150,000 in a new state-created investment fund for five years, plus a €10,000 fee to the state budget.
- Keeping the Company Investment Route: Foreigners can still get residency by investing €50,000 or €100,000 into a Latvian company. However, the maximum validity of this residence permit will be reduced from five years to just two years.
Why Did the President Stop the Law?
President Rinkēvičs stopped the law because he has several major security and economic concerns regarding the new investment rules:
- Real Estate for Friendly Nations: The President wants lawmakers to check if citizens from friendly countries, such as NATO, OECD, and European Economic Area (EEA) nations, should still be allowed to buy property to get residency.
- Lack of Rules for the State Fund: He questioned if the rules for the new €150,000 fund are complete enough. He wants strict checks on where the investors’ money comes from and how the fund will use it.
- Russian and Belarusian Citizens: The original version of the bill accidentally forgot to exclude Russian and Belarusian citizens from the new €150,000 fund route. Although parliament passed a quick fix on June 18, the President wants all security loopholes completely closed.
What Happens Next for Investors?
Latvia launched its golden visa program in 2010, which was very popular with Russian buyers until they were barred in 2022. Recently, the government has increased scrutiny after investigators checked more than 20 local companies for misusing the immigration system.
Until the parliament meets in autumn to vote again, the current rules remain active. This means the old company investment route is currently Latvia’s only operational investment pathway, and the new €150,000 state fund cannot accept applications until separate laws officially set up the fund.
