LANĪDA Calls for Retaining Residence Permit Program with Improved Risk Management
Latvian Association of Real Estate Developers opposes the termination of residence permits for investments, citing rising capital inflows and proposing enhanced vetting of investors.
The Latvian Association of Real Estate Developers (LANĪDA) has voiced concerns over the new Immigration Law adopted by the Saeima on June 11, which ends the possibility of obtaining a temporary residence permit (TRP) in exchange for investments in real estate. The association emphasizes that since its launch in 2010, the program has attracted over €1.6 billion in total investments, with recent annual figures showing a sharp increase: from €7.5 million in 2023 to €21.5 million in 2025.
According to LANĪDA, the program has not only boosted the real estate market but also created jobs in construction, design, and related sectors. Investors come from more than 80 countries, with recent dominance by citizens of Turkey, Israel, Kyrgyzstan, Uzbekistan, the USA, and Canada.
To address security concerns, LANĪDA and the Real Estate Developers Alliance propose a model where the Office of Citizenship and Migration Affairs and the State Security Service conduct thorough background checks on investors before they commit funds. This approach would maintain investor appeal while mitigating risks.
The organizations have appealed to the President of Latvia not to promulgate the amendments and to reassess their impact. The President has invited industry representatives for discussions, where LANĪDA will be represented by its chairperson, Aigars Šmits.
LANĪDA stresses that Latvia needs a predictable investment climate and that completely shutting down the program could harm competitiveness. Smart policy can balance security and economic development rather than pitting them against each other.
