The Latvian Parliament rejected the proposal for golden visas
The Latvian Parliament did not support the initiative to introduce so-called “golden visas”—simplified residence permits in exchange for investments and contributions to the state budget. The Saeima adopted the relevant decision.
The initiative provided for the possibility of obtaining a temporary residence permit for up to 5 years under the following conditions: a contribution to the state budget of 10,000 euros, and an investment of 50,000 euros in a small business (with up to 50 employees and a turnover of up to 10 million euros).
The proposal was promoted by Prime Minister Andris Kulbergs and Minister of Economy Viktors Valainis.
However, it failed to gain support:
- 29 MPs — “for”
- 41 — “against”
- 16 abstained
The very concept of the program sparked a sharp reaction.
“It’s surprising how such a proposal could have even been made,” said Seimas member Zanda Kalniņa-Lukaševica.
She also noted that the European Commission had warned about the risks of “golden visa” programs as early as 2019, and that a number of EU countries have already abandoned such mechanisms.
Despite rejecting “golden visas,” lawmakers supported a stricter investment-based model for obtaining residency permits.
Under the approved approach, a residence permit may be issued for up to 5 years; an investment of at least 150,000 euros is required, the funds must be placed in the state Alternative Investment Fund, and an additional contribution of €10,000 must be paid to the budget. The investment must be maintained for the entire duration of the permit.
The residence permit will remain valid only if the investment agreement is not terminated and the remaining investment balance does not fall below €150,000.
Thus, Latvia has abandoned the more lenient “golden visa” model, instead introducing a stricter investment system with long-term obligations.
This is reported by LSM.
The Latvian Parliament passed the new Immigration Law in its final reading. The document provides for stricter control over migration processes, increased oversight of third-country nationals, as well as additional requirements regarding their integration.
A drone was shot down in Latvian airspace for the first time — LSM.
Latvia is preparing a new batch of cars confiscated from drunk drivers for Ukraine
Thirty-two vehicles have arrived in Ukraine from Latvia and will be handed over to the military and the National Police.
Latvia has also transferred a new batch of Patria 6x6 armored personnel carriers to Ukraine.
