Latvia’s Office of Citizenship and Migration Affairs (PMLP) issued 19,900 temporary residence permits to non-EU nationals who invested in the Latvian economy in the period from 1 July 2010 to the end of 2024, LETA reported. According to the Ministry of Economy, the so-called golden visa programme was “an important instrument” for attracting foreign capital and investment into the country. Non-resident investments for which temporary residence permits were issued totalled EUR 1.64bn over the said period. Earlier, LTV reported that the Financial Intelligence Unit (FID) had identified more than 20 companies registered in Latvia that were used in fictitious investment schemes to obtain temporary residence permits. The Ministry of Economy pointed out that Latvia had several institutions monitoring investments.
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