Technically, it’s a temporary residence permit – which is much cooler than just a Schengen visa! For the sake of convenience, we call it “startup visa”.
Startup visa is offered to all non-EU startup founders who are willing to come and kick-off their startup ideas in Latvia, a proud member of EU since 2004. One startup can have up to 5 founders with a startup visa. The application process takes one month. The visa is given for the period of maximum 3 years and it is spouse and children-friendly.
The main criteria for getting Startup visa is an innovative (most often technology-based) Startup idea, which is easily scalable and yields a high added value.
In order to evaluate your idea, please send in a free form application, including:
• Description of innovative idea and its technological description (if applicable);
• Business model/company’s core strategy for profitability doing business;
• Research of market potential for the product;
• Analysis of competitors and description of your idea’s competitive advantages;
• Product R&D plan;
• Planned business activities for the next 3 years, including the planned necessary investments;
• Simplified draft of planned cost/income structure for the next 3 years;
We highly recommend adding a pitch presentation if you have one, as well as short info on your and your team’s qualification/ competence in this field.
Once your startup is registered and settled in, bring your team from abroad – there is a special type of visa (again – residence permit) reserved for them.
ALL YOU NEED TO KNOW
We’ve put all the important information about the startup visa in a file below - downloadable and easy to use!
! Attention ! Due to the COVID-19 outbreak, The Office of Citizenship and Migration Affairs (OCMA) currently doesn`t provide services in person. Instead, there are 2 options on how documents can be submitted:
- Through the Latvian Embassy`s Consular Section, serving startup founder's residence location. N.B. national restrictions imposed due to COVID-19 may impact the order of provided services (e.g. some Embassy’s doesn’t provide services in person).
- If foreigner currently resides in Latvia document package can be sent by post to any OCMA division where they want to receive a TRP card.
All information on how to prolong your startup visa can be found in a file below, with the all necessary information.