In the modern-day competitive world, it is very important for global investors to have complete knowledge about the popular golden visa programs before choosing a country for residency by investment. The comparison of various golden visa programs helps wealthy individuals make better decisions when choosing a stable country as a second home for a secure and safe Plan B for themselves and their families.
What is a Golden Visa Program?
People seeking a better lifestyle, stability, and business opportunities in their favorite countries consider the golden visa programs of those countries as an opportunity to live a stable professional and personal life. The residency by investment programs of European countries, including Greece, Latvia, Portugal, Malta, and Hungary, grant wealthy investors EU residency permits, allowing them to live and work in these countries for a specific time period. During that time, they can access the best European healthcare and educational systems with their families, where some programs even offer them permanent residency by investment and possible citizenship after residing in the country for a specific time and meeting the eligibility criteria.
Why Greece vs. Latvia Matters in 2025?
The residency by investment program of Greece and Latvia are often mentioned together due to their easy access to Europe, and hence are compared by global investors to choose the best golden visa program by considering the key factors, including flexibility, cost, reliability, and transparency. Both programs are popular because of their own unique advantages; however, in 2024, Greece raised its minimum real estate investment, which resulted in making its real estate investment route significantly less accessible for getting Greece residency and shifted the focus of global investors toward Latvia as a more cost-effective program for gaining EU access.
Latvia Golden Visa 2025: Most Affordable EU Residency by Investment
In today’s era of increasing costs of residency by investment programs, Latvia appears to be the most affordable and investor-friendly golden visa program due to its low cost compared to many other EU countries. The individuals moving to another country already face many changes, and during these changes, benefits like low investment thresholds provide them with great relief as they help them manage their expenses efficiently. Latvia provides them with this relief by granting them a temporary 5-year renewable residency permit, in exchange for an initial investment of €50,000 in a Latvian company. After meeting the investment criteria, the individuals can live, work, and run a business in Latvia along with their families. Moreover, the businessmen and entrepreneurs can explore well-established European business markets, as it grants them visa-free access to Europe’s Schengen area.
Greece vs Latvia Golden Visa Cost Comparison
Reports from November 2024 claim that the Greek government was planning to replace the Greece real estate investment option with a startup or Business investment option by January 1, 2025. However, the change was not implemented. The Greece golden visa applications are still getting accepted under the following newly introduced tiered investment zones on August 31, 2024, by the Greek government:
Investment required in high-demand areas like Athens, Thessaloniki, Santorini, and Crete is €800,000.
Investment required in mid-scale or less-saturated areas where the number of people living is relatively small is €250,000 - €400,000.
On the other hand, Latvia golden visa provides the most accessible and sustainable investment route to global investors, i.e, its business investment option which requires minimum investment of €50,000 in a latvian business that pays €40,000 tax per year and an additional €10,000 government fees for contribution to the economy of the country which is much less than the cost of Greece residency by investment program.
Benefits of Investing in a Latvia Golden Visa
EU-Based Established Business
The high-net-worth individuals, mainly entrepreneurs, can benefit largely from investment in Latvia golden visa as it requires investment in an already established EU-based Latvian Business, which means investment in a company with a transparent corporate structure. The investors can have control over their businesses without worrying about the external constraints by getting a share in the company and the ability to participate in the company's advisory board.
Renewable Residency Permits
The Latvia residency by investment program provides a renewable residency permit, which means after 5 years, investors and families can renew their Latvia residence permits by paying an additional fee.
Long-Term Stability
The individuals with temporary Latvia residency permits can also apply for permanent residency and eventually get long-term stability for their businesses in Latvia.
Schengen Mobility
The Latvia golden visa allows its investors to travel visa-free in Europe’s Schengen areas without worrying about the processing time of a visa application. This provides them with travel mobility.
Return on Investments
The Latvia golden visa can provide its investors with a high return on investment by earning profit, such as rental income or property appreciation, by choosing the business or real estate investment route of the program.
Refundable Investments
The investment options, like government bonds and bank deposits, which require €250,000 and €280,000, respectively, allow investors to get their capital back after 5 years.
Conclusion: Which Golden Visa is Best in 2025?
For the individuals planning to get EU residency along with opportunities like visa-free access to the EU Schengen zone, possible PR by investment and citizenship, Latvia is the most feasible option for global investors, offering them multiple advantages, primarily of low cost compared to other residency by investment programs like Greece golden visa.