Latvia Residence Permit for Retirement

Gorgeous Latvia. Come and make it your home base in Europe and go explore Europe for the rest of your life.

Senior Citizens Loved and Welcomed

Latvia offers a fast and economic home base for retirees, with a proven, regular pension of just € 900 per month.

Excellent, beautiful way to explore rest of Europe, while basing yourself in an economic, and gorgeous city such as Riga, with English so widely spoke, you almost never need Latvian.

LATVIAN ADVANTAGE

Faster and easier immigration process compared to other nations like Portugal and Spain, Italy etc. YES, we have obtained residency permit approvals within 15 days, even before the applicants landed in Latvia for the first time.
Double Tax Treaty with USA, UK, Canada etc. So you wont be paying tax twice on your pension.
English is widely spoken within Riga city, communication is never a problem here.
Lower cost of living. For example a nice, one bedroom with a living room apartment can be rented for as low as € 400-500 per month.
Riga city is fascinating and well planned for senior citizens.
Multiple and low cost fight connections to all tier 1 / tier 2 cities in Europe make it easy to explore Europe.
Make Latvia your low cost home base and go discover rest of Europe as per your affordability.
Path to Permanent Residency after the initial 5 year residence permit.

We can have your approval for a FIVE year residence permit within 15 days from the time we submit a completed document pack at the PMLP office in Latvia.

ELIGBILITY

You are a citizen of a NON-EU country.
Your passport allows you to visit Latvia without obtaining a visa. Check the list below.
As main applicant, you are of 65 years or age or above.
You are financially independent, preferably earning a pension of a minimum of Euro 900 per month and more if you intend to bring your spouse along. Other passive income sources, such a rental income or interests from investments may be eligible.
You have a bank balance of at least Euro 12,000 at the time of application.
You provide a proof of accommodation /residential property lease or proof of purchase of residential property in Latvia.

WHO CAN APPLY

Citizens of the following countries enjoy visa-free entry into Latvia for 90 days within 180 days period. ETIAS program shall apply from 2024 that would involve a simple one time online application for these citizens. However, that would not change eligibility for a retirement visa in Latvia. If you hold any one of these passports, you are welcome to apply for a 5 year, extendable residency status in Latvia

Andorra

Antigua and Barbuda

Argentina

Australia

Bahamas

Barbados

Bosnia and Herzegovina*

Brazil

Brunei

Canada

Chile

Colombia

Costa Rica

Dominica

East Timor

El Salvador

Georgia *

Grenada

Guatemala

Honduras

Hong Kong

Israel

Japan

Kiribati

Republic of Korea (South Korea)

Norway

Macau

Malaysia

Marshall Islands

Mauritius

Mexico

Micronesia

Moldova*

Montenegro*

New Zealand

Nicaragua

North Macedonia*

Northern Mariana Islands

Palau

Panama

Paraguay

Peru

Saint Kitts and Nevis

Saint Lucia

Saint Vincent and the Grenadines

Samoa

San Marino

Serbia***

Seychelles

Singapore

Solomon Islands

Switzerland

Taiwan**

Tonga

Trinidad and Tobago

Tuvalu

The Vatican

Ukraine*

United Arab Emirates

United Kingdom

United States of America

Uruguay

Venezuela

* Only for holders of biometric passports

** Only for holders of passports which include an identity card number

*** Only for holders of biometric passports (excluding holders of Serbian passports issued by the Serbian Coordination Directorate, in Serbian: “Koordinaciona uprava”)

What about taxes

Latvia has signed Double Tax Avoidance treaty with many countries including UK, USA, Canada and so many more. This means you won't being paying double tax on your pension.

Latvia has signed double tax treaties with: Albania, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bulgaria, Canada, China, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Kazakhstan, Korea, Kyrgyzstan, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Morocco, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkey, Ukraine, United Kingdom, United States of America and Uzbekistan.

The double tax treaties are agreements meant to cancel the double taxation of capital and income in the applicant's country of residence / citizenship. A person granted a retirement visa to live in Latia, does not need to pay taxes in Latvia, if his/her taxes are paid in another country with such a tax treaty.

For these countries, the double taxation is avoided through credit (the income is taxed, but a credit is received from the residence country) or through exemption (the income is taxed only in the country of residence).

The withholding taxes on dividends, interest and royalties are lower than those for the non-treaty countries and may vary from 0% to 15%.

The fact that Latvia has one of the lowest costs of livings in all of Europe is one of the best reasons why so many foreigners decide to apply for Latvian residency. Our agents will go over everything you need to know to submit a successful application if you intend to apply for a stay permit in this Baltic nation. The right to live, work, study, and do business in Latvia is granted by a document known as a resident permit. Our lawyers can help you get one.

Disclaimer : Information provided above must not be construed as legal or tax advice. If you are unsure of tax status and need advice from a Latvian Tax Advisor, please get in touch and we can organize a Tax Advice Consultation at the rated of Euro 100 for initial one hour consultation.

What other residency options exist in Europe, for pensioners or those earning other types of passive regular income ?

To be blunt, you have to be somewhat wealthy, with a regular and healthy flow of monthly income. Most European retirement visas were designed for pensioners with a credible Government backed monthly income. Probably the safest bet for these countries. Who does not want wealthy retirees who come and spend money in the country. As such, although demonstrating a pension is the sure path to acquiring residency rights in an EU country, there are exceptions. Rental income or other sources of proven regular stream of income from 'passive' investments is often considered too. Each EU country has set it own minimum income threshold based on their average cost of living estimates. Take a look at some more options. If some specific nation fascinates you, get in touch and we will have it sorted for you.