Temporary Residence Permit (TRP) for Startup Founders
Latvia
Last updated: December 26, 2025
3 years (renewable)
$188-$660
30-60 days
Medium
About this Visa
This visa lets you move to Latvia to start a tech or innovative business. You get to live, work, and run a company in Europe. It's popular because it's fast and doesn't require huge upfront investment. This is for entrepreneurs with real business ideas. You must prove your business is innovative and genuine. Once approved, you can hire employees, find investors, and grow your company in Latvia. Unlike other business visas, you don't need to invest a large sum upfront. You just need enough money to live on and a solid business plan.
Key Benefits
- Run business with no restrictions
- Travel visa-free to 26+ European countries
- Bring spouse and children
- Access to healthcare and public schools
- Open European bank account
- No mandatory residency requirement (183+ days not required)
- Path to permanent residency after 5 years
- Path to EU citizenship after 10 years
Eligibility & Requirements
Eligibility Criteria
- Must be non-EU/EEA citizen
- Must be 18 or older
- Must have no criminal record
- Must have real, innovative business idea (tech, software, AI, fintech, etc.)
- Must show $10,360 in bank account
- Must NOT be from Russia
- Must have detailed written business plan
- Must register as board member within 3 months of approval
- Must register company in Latvia within 1 year
- Within 12 months must either attract investors ($15,000+ from accelerator/angel or $30,000 from VC) OR demonstrate real customer payments
- Cannot work as employee for another company in Latvia
- Cannot be on international sanctions lists
- Up to 5 co-founders can apply for same business idea
Financial Requirement
Must show $10,360 USD in bank account for one adult. Add $10,360 for spouse/partner and $3,137 per child. This is NOT monthly income - it's a single bank balance requirement. Bank statement must be dated within 3 months of application. Amounts increase automatically every April 1st.
Documents
- Valid passportMust be valid during entire application period
- Business planDetailed 3-year description of your business idea
- Bank statementShowing $10,360+ balance, dated within 3 months of application
- Criminal record certificateOfficial certificate with apostille, dated within 6 months
- Health insurance policyValid for entire residency period
- Medical certificateTB-free status from certified medical professional
- Proof of residence in LatviaAddress confirmation and property owner written approval
- Biometric photo3x4 cm on white background, 80% face coverage
- Application formOfficial OCMA residence permit form
- Translated documentsAll documents translated to Latvian and certified with apostille
Disclaimer: The information on this page is for general informational purposes only and does not constitute legal or immigration advice. Visa requirements, fees, and processes change frequently. Please verify all information with official government sources and consult a qualified immigration attorney before making decisions.