LatviaOpen — property, company and bank-deposit routes. The government-bond route was withdrawn on 20 May 2026.
Picture this: it is a Tuesday in Patiala, your daughter has a campus interview in Munich next month, and you want to be in the room. A Latvian residence permit lets your family move through the Schengen area without queueing for a visitor visa each time. The property route starts at roughly €262,500 including state duty — the cheapest Schengen property permit still open in 2026. But three technical rules disqualify more Indian buyers than the price does. Read those first, then call us to fit the route to your budget and your family.
Every claim below is checkable — tap any of them
Punjab Government licence
No. 849/DC/PTA/PLA/LC‑3/2024
How to verify it
Registered private limited company
Pro Lifeset Overseas Private Limited · CIN U52291PB2024PTC060508 · since 2024
Check on MCA
5.0 on Google
109 reviews on our Google Business Profile
Read them on Google
A real office in Patiala
Shop No. 2, Nabha Road · walk in, Mon–Sat
Office & directions
Fixed, all-in fees
GST included; embassy and VFS fees at cost
See every price
Is this you?
If one of these is you, the fastest way forward is a call: +91 91155 80911.
The ways in
€250,000 purchase price + 5% one-time state duty
Hold: For as long as you hold the permit
The seller must be a company, or a Latvian citizen, non-citizen or resident — never a foreign private individual. The property must be debt-free and clear a minimum cadastral value. One property, or two functionally linked properties in Riga or Jurmala.
Fits: Families who want a usable Riga base and the lowest Schengen property entry price.
€50,000 into a Latvian company + €10,000 one-time state payment
Hold: For the life of the permit
The company must employ no more than 50 people, have turnover or balance sheet up to €10 million, and pay at least €40,000 a year in Latvian taxes. A shareholding of 10% or more may bring you under India’s ODI rules.
Fits: Business owners who will genuinely trade from a Baltic base.
€280,000 in a Latvian bank + €25,000 one-time state payment
Hold: Minimum five years
Capital sits locked and subordinated — you rank behind other creditors if the bank fails. Simpler paperwork than property, higher total outlay.
Fits: Investors who want no property management and can leave money untouched for five years.
The facts, checked 2026-09-05
Where families lose money and years
Latvia tests the property’s official cadastral value, not only what you paid. Older flats in cheaper districts can cost €250,000 yet carry a cadastral value below the line, and the permit is refused after the money is spent. Every property we consider is checked on this point first.
A purchase from a foreign private individual does not qualify. The seller must be a legal entity or a Latvian citizen, non-citizen or resident. Listings rarely say who owns the flat — the lawyer must confirm it before you sign.
The permit lasts five years, but the card must be re-registered every year. There is no reminder from the state. One missed date and the whole investment stops producing a permit.
The €50,000 route depends on the company actually paying €40,000 a year in Latvian taxes. A shell that never trades cannot meet that, and the permit fails at renewal. And without Latvian at A2 level, no route leads to permanent residence.
The India side nobody explains
The Reserve Bank’s Liberalised Remittance Scheme lets each resident Indian send US$250,000 abroad per financial year (April to March). At 2026 rates €250,000 sits close to that ceiling, so a husband and wife remitting together can complete the purchase inside one financial year, or one person can split it across two. The bank files it under purpose code S0005, the code for buying property overseas. We plan the sequence with your chartered accountant so the seller’s payment dates and your LRS windows line up.
Since 1 April 2026, LRS remittances above ₹10 lakh in a financial year for investment purposes attract 20% tax collected at source. It is not a cost — it is adjusted against your tax liability or refunded — but it is cash you must have on hand at the moment of transfer. On a €250,000 purchase that is a large sum parked with the tax department until your return is processed. Families who discover this at the bank counter lose weeks.
A Latvian flat must appear in Schedule FA of your Indian tax return every year, whether or not it earns rent. If you let it, the rent is taxed in Latvia and again in India, with credit for the Latvian tax under the India–Latvia tax treaty. This is routine when done from year one and painful when caught later.
Take the €50,000 company route and hold 10% or more of the shares, and the remittance moves from ordinary LRS into India’s Overseas Direct Investment framework — Form A2, Form FC and annual reporting. That is a different filing with different deadlines. Tell us before you pick a route, not after the money has left.
How it goes, with us
We check which of the three routes your family can fund inside your LRS windows, who remits, and whether the company route drags you into ODI. This is the conversation the page cannot have for you.
Before any deposit, the Latvian side checks the seller type, the debt position and the cadastral value against the threshold. A flat that fails any one of these fails the permit, however fair its price.
Funds go out under S0005 with TCS budgeted. Notary, land registry and the 5% state duty are paid; ownership is registered.
Proof of the investment, clean record, health insurance and family documents are assembled and lodged with the migration office. Processing typically runs one to three months from a complete file.
You collect the permit card and, from that date, diarise the annual re-registration. We keep a calendar for our clients because a missed year cancels the permit.
Schedule FA, rental income with treaty credit, and any ODI reporting go into your Indian return with your CA.
What it costs
Property purchase
Must clear the cadastral-value threshold
€250,000 minimum
State duty on the purchase
One-time, paid to the state budget
5% of price (about €12,500)
Notary and land registry
Roughly 2–3% of the price
Permit state fee
Depends on processing speed chosen
About €100 to €400
Health insurance
Required for each applicant
Annual property tax
Ongoing, set by the municipality
Our own fee is fixed and quoted after the first call, with 18% GST included. Government and third-party costs are paid at cost.
Yes. Latvia is in the Schengen area, so the permit lets you and your included family members move within Schengen under its short-stay rules. It is a residence permit for Latvia, not a right to settle in another country.
No minimum stay is required to hold the five-year temporary permit. What you must do is re-register the card every year. If you later want permanent residence, that is different — it needs actual continuous residence and Latvian at A2.
Because the state charges a one-time duty of 5% of the purchase price on top of the property. Add notary and land-registry costs of roughly 2–3%, insurance and the permit fee, and your working budget should sit comfortably above the headline figure.
A couple can each use their own LRS allowance in the same financial year, which is how most Indian buyers reach €250,000 without waiting. Who remits, in what order, and how the 20% TCS is funded is exactly what we settle on the first call.
The €250,000 government-bond route was removed with effect from 20 May 2026. Anyone still advertising it is out of date. The open routes are property, company share capital and the subordinated bank deposit.
The capital is lower — €50,000 plus a €10,000 state payment — but the company must be real: no more than 50 staff, turnover or balance sheet up to €10 million, and at least €40,000 a year in Latvian tax. If you hold 10% or more, Indian ODI rules apply instead of plain LRS.
Only slowly. Permanent residence comes after five years of genuine residence with A2 Latvian, and naturalisation after a further five years of permanent residence with the language. Treat this as a residence programme, not a citizenship one.
Other Latvia visas: see the Latvia page.
Checked 2026-09-05 against: Office of Citizenship and Migration Affairs (PMLP) · Immigration Law of the Republic of Latvia · RBI — Liberalised Remittance Scheme. Rules change; we re-check before any filing.
