Changes to Latvia’s Immigration Law affect foreign nationals who previously purchased real estate in Latvia and obtained a temporary residence permit on that basis. What should you do if your permit is about to expire and obtaining another one is not possible? Must you sell your property?
For many years, Latvia attracted foreign investors seeking to invest in real estate while also obtaining the right to reside in the country. Some foreign nationals purchased apartments, private houses and other properties for precisely this reason. However, changes to immigration rules in recent years have significantly altered the procedures for obtaining and reapplying for residence permits. Owners who can no longer stay in Latvia on a long-term basis are left with an important question: what should they do with their property here?
How Was Purchasing Real Estate Previously Linked to a Residence Permit?
The previous Immigration Law allowed third-country nationals to apply for a temporary residence permit in Latvia if they purchased real estate that met certain requirements. One of the key criteria was a purchase price of at least EUR 250,000. Applicants also had to meet other requirements concerning, among other things, the property’s cadastral value, payments and the transaction’s compliance with the law. A permit could be requested for a period of up to five years. As a result, many foreign investors bought property in Latvia both for residential use and as a capital investment.
What Changed in the Immigration Law in 2026?
The new Immigration Law entered into force on 15 September 2026, changing the existing framework for temporary residence permits.
The new rules no longer provide for the purchase of real estate as a general basis for obtaining a new temporary residence permit.
However, this does not mean that all previously issued residence permits automatically cease to be valid or that every existing investor is barred from applying for a subsequent permit. The law contains transitional provisions that, in certain cases, allow people who obtained a permit under the previous rules to apply for another temporary residence permit. At the same time, special restrictions applicable to nationals of certain countries must be taken into account.
How Do the Changes Affect Russian and Belarusian Citizens?
Latvia has introduced additional restrictions on obtaining temporary residence permits for Russian and Belarusian citizens. These may also affect people who previously purchased real estate in Latvia and obtained a residence permit on that basis. However, the law provides for certain exceptions, and each person’s circumstances must be assessed individually. Citizenship, the type of existing residence permit, family circumstances and other statutory conditions may be relevant. Property owners wishing to continue residing in Latvia are therefore advised to consult the Office of Citizenship and Migration Affairs (OCMA) or an immigration law specialist in good time.
Does Losing a Residence Permit Mean Losing Your Property?
No. Residence rights and property ownership are two separate legal matters.
If a foreign national’s temporary residence permit expires or they cannot obtain a new one, this in itself does not mean that they lose the real estate they purchased in Latvia. A person may retain ownership even while permanently residing abroad. However, owning property does not automatically guarantee the right to enter Latvia or stay there for an extended period. Any sanctions, financial transaction restrictions and other legal limitations that may apply to the particular owner must also be considered.
What Options Are Available to Property Owners?
If obtaining a residence permit is no longer possible, property owners should consider several potential solutions.
1. Keep the Property
If a property was purchased as a long-term investment and maintaining it does not involve disproportionate costs, the owner may choose to keep it. It is important to ensure timely payments, technical maintenance, insurance and property supervision. A professional property manager can help handle these matters when the owner lives outside Latvia.
2. Rent Out the Property
If the owner does not plan to live in Latvia, renting out the property can generate regular income and help cover maintenance costs. Before renting it out, the owner should assess the potential rental price, the property’s condition, demand in the area and tax obligations relating to rental income. Tenant selection, lease preparation and the handling of day-to-day matters must also be arranged.
3. Sell the Property
If the property no longer aligns with the owner’s long-term plans, selling may be a suitable solution. Before making a decision, it is important to establish the property’s current market value, potential demand and the costs of the sale process. A professional market analysis helps determine an appropriate asking price and sales strategy.
Can a Foreign National Sell Property Without Travelling to Latvia?
In many cases, a property sale can be arranged remotely. Depending on the circumstances, a properly executed power of attorney may be used, allowing an authorised representative to carry out certain actions on the owner’s behalf. However, the ability to conclude a transaction remotely depends on document formalities, notarial requirements, bank conditions and applicable restrictions. These issues require particular care if the parties to the transaction are subject to international sanctions.
What Should You Check Before Making a Decision?
Property owners are advised to find out:
- Is the existing residence permit still valid, and is there a legal basis for applying for a new one?
- What is the property’s current market value?
- What are the annual costs of maintaining the property?
- Can the property be rented out, and how much income might it generate?
- Are there any specific legal or financial restrictions on the sale?
- Can the sale or management of the property be arranged remotely?
Answers to these questions can help you make an informed decision.
How Can Vestabalt Help?
Vestabalt is a full-service real estate company with more than 30 years of experience in Latvia’s property market. We help clients assess their options for selling, renting out and managing property, offering solutions tailored to their individual circumstances. Vestabalt’s services include real estate valuation, market analysis, organising sales and rental transactions, and property management. If you own real estate in Latvia but your residence options have changed, contact Vestabalt to discuss the next steps together.
Vestabalt – a trusted partner for your property in Latvia.
Important: This article is for informational purposes only. Eligibility for residence permits and restrictions applicable to specific transactions must be assessed individually under the relevant laws.
