Progressives propose scrapping residence permits granted for investments

The Latvian political alliance "Progressives" has submitted a draft law to the Saeima proposing amendments to the Immigration Law. The proposed change would remove the provision that currently allows foreigners to obtain a temporary residence permit (TUA) in Latvia in exchange for making investments in the country.

What the change would do

Under the current Immigration Law, foreigners can qualify for temporary residence in Latvia through several routes, one of which involves making a financial investment of a set amount in the country. The bill submitted by the Progressives targets specifically this investment-based route, and if adopted would eliminate the possibility of obtaining residence rights based solely on a capital investment rather than other criteria set out in the law.

Next steps in the legislative process

For the amendments to take effect, the bill must go through the Saeima's standard review procedure — it must be considered by the relevant parliamentary committee and then voted on in the plenary session across multiple readings. The bill is currently only at the submission stage, and it is not yet known when it will be reviewed in its first reading, nor what position other Saeima factions will take on the proposed changes.

If ultimately approved, the amendments would end one of the existing pathways through which foreigners have been able to qualify for temporary residence rights in Latvia.