Latvia has become the new destination for Turkish investors who seek to reach EU standards in many criteria, such as free movement, commercial advantages, and quality education. It was noted that Turkish citizens accounted for 20% of approved applications in Latvia during the first half of 2025, representing the largest share.

In recent years, due to the impact of global economic crises and geopolitical developments, investments abroad have continued to increase. Investors maintain their tendency to turn toward global residency and citizenship programs through investment, which offer many advantages.

In Golden Visa applications, which allow citizens of non-EU countries to obtain residence permits and citizenship rights through investment, Latvia has become the new favorite of Turkish investors. It was noted that Turkish citizens accounted for 20% of approved applications in Latvia during the first half of 2025, representing the largest share. Investors who want to benefit from the free movement and commercial advantages provided by European Union countries are turning to Latvia because it is also less costly compared to other EU countries.

Commenting on the matter, Vesta Global Co-Founder Teuta Narazan said, “Turkish investors consider not only financial returns but also other criteria that will improve their quality of life. Investors especially prefer countries where they can easily access education, social security, healthcare, and high standards of living for their families. Compared to other European countries, Latvia is preferred because it is more affordable for investors. With costs starting from around €50,000 and reaching up to €100,000, it is one of the most affordable countries in Europe to obtain a residence permit. We offer our clients smart accommodation investments so that they can benefit from the advantages of Latvia through investment. With the Wyndham Hotels & Resorts investment option we provide as Vesta Global, we contribute to Turkish citizens making a strategic investment in Latvia for the future. Hotel investment meets many long-term needs of investors, including residence permits, education, and free movement. Along with these opportunities, the fact that Turkish citizens had the most approved applications in the first half of 2025 will further strengthen the interest in Latvia,” she said.

Residence permit in Europe through hotel investment

Stating that accommodation projects provide many European advantages that investors are looking for, Narazan said, “The Wyndham Hotel investment we offer also brings with it the opportunity to obtain a residence permit in Latvia. With smart accommodation investment, our investors not only earn income in foreign currency but also make a secure investment that creates international value. Many families who are looking for quality education opportunities in Europe for their children can also benefit from this advantage by partnering in hotel investments. Latvia has become a standout option for those seeking a more affordable, fast, and stable alternative. Its strategic location between Western Europe and Scandinavia may also provide Turkish citizens with a suitable atmosphere for future initiatives, business, and investment opportunities,” she said.

Visa-free travel to 27 Schengen countries

Ranking 9th in the passport index, the Latvian passport allows visa-free travel to 141 countries, 27 of which are Schengen countries. It also offers the opportunity to obtain a visa upon arrival in 48 countries. There is also no obligation to reside in Latvia for a certain period in order to renew the residence permit. With these features, Latvia has become an attractive center for Golden Visa applicants and one of the leading countries where investors can achieve EU standards.

Offering Schengen access with a smaller amount than the minimum investment required in other countries also makes Latvia stand out as an important attraction for those seeking a Plan B in the current market environment.

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