Start a Startup in Latvia
Latvia runs a dedicated Startup Visa route for non-EU founders — approval from the Startup Committee, a low-cost SIA, and a Temporary Residence Permit that covers up to five co-founders and their families.
BIZ TRP confirms exactly what your case needs before you commit to anything.
At a glance
- Entity
- SIA
- Capital
- €2,800 standard SIA — reduced-capital variant exists under conditions
- Remote formation
- Yes — with QES & Qualified Timestamp, or a representative
- Corporate tax
- 20% — on distributed and deemed-distributed profits
- VAT
- 21% — standard rate
- Registration time
- 1–3 working days — once your file is correct
Latvia Startup Visa (Temporary Residence Permit)
- Who it's for
- Non-EU founders of an innovative, scalable startup, plus up to 5 co-founders and their accompanying family members
- Duration
- Up to 3 years total, issued 1 year at a time and renewable while criteria are met
- Approval via
- Startup Committee, via the Latvian Investment and Development Agency (LIAA)
- Processing time
- Standard ~30 days; fast-track options of 10 or 5 working days available
Startup visa requirements
- Startup project description (pitch deck or business plan) covering product, team, market, and innovation
- Valid passport
- Approval letter from the Startup Committee
- Proof of financial means — approximately €12,000–€15,000 per year, per person
- Proof of health insurance
- Criminal record certificate (required for some nationalities)
Registration process
Qualify your idea
Your business needs a scalable model with genuine growth potential — typically technology or science-based (fintech, biotech, AI, SaaS, and similar).
Get Startup Committee approval
Submit your project description via LIAA. This approval is required before the visa application.
Register your SIA
Once approved, register the company — €1 for a micro-SIA or €2,800 for a standard SIA — with a Latvian address and bank account.
Apply for the Temporary Residence Permit
Apply at a Latvian embassy/consulate or the Office of Citizenship and Migration Affairs (OCMA), with your approval letter and financial proof.
Meet post-approval requirements
Once your permit is approved, arrange health insurance, a medical certificate confirming you're free of tuberculosis, and proof of accommodation in Latvia. You must also register as a board member of your company within 3 months.
Renew annually
To renew, show either €30,000 secured from a VC fund or €15,000 from a business angel, or a progress report demonstrating product development. The permit is issued one year at a time, up to 3 years total.
What it costs
Government fees
- Micro-SIA share capital
- €1
- Standard SIA share capital
- €2,800
- Proof of financial means (per person, per year)
- €12,000–€15,000
BIZ TRP fees
- Route confirmation & application support
- Ask us for a quote — from €120/hour
Why Latvia
- Fast-track visa access — a dedicated route built specifically for non-EU startup founders.
- Low operational costs — one of the more affordable startup bases in the EU.
- Co-founders included — up to 5 co-founders per startup, plus family members.
- Simplified hiring — under Latvia's Startup Law.
- Access to incubators and accelerators — part of the LIAA-backed support ecosystem.
- Possible grants and funding — available through LIAA for qualifying startups.
Ready to start your company in Latvia?
BIZ TRP confirms the real requirements for your Latvia startup — company formation and visa, together.
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