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Discover in detail the advantages of each EU country.

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Latvia

Affordable living, developing economy, and increasing opportunities in tech and shared services.

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Photo by Aleksejs Bergmanis

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Corporate Tax Rate 0% (2025)

The standard rate for all business profits.

With a competitive corporate tax framework, it offers a stable and attractive fiscal environment designed to support and encourage business growth.

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Economic Sentiment Indicator (ESI) 99,6 (2026)

A snapshot of business and consumer confidence.

The Economic Sentiment Indicator (ESI) measures overall confidence in the economy by combining survey results from consumers and key sectors such as industry, services, retail, construction, and (where available) financial services.

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GDP Growth 1% (2025)

Annual real GDP growth rate forecast.

Austria's highly advanced and resilient economy is forecast to grow steadily, driven by innovation in technology and a strong commitment to sustainable industry.

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Labour Cost €15.10/hr (2024)

Average hourly cost of employing a worker.

Labour costs represent an investment in a highly educated, productive, and innovative workforce, contributing to a strong, high-value economy.

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Annual Inflation Rate 3,8% (2025)

Measures the change in consumer prices over time.

With one of the lowest inflation rates, the economy provides strong price stability, ensuring a secure and predictable financial environment.

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Euro Health Consumer Index Score 29th (2026)

Overall measure of national health system performance.

It offers a world-class healthcare system recognized for its excellent access, high quality of care, and strong patient outcomes.

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Global Cost of Living Rank 50th (2026)

Measures relative costs of goods and services.

 This financial strength, paired with top-ranked quality of life and free public transport, creates a highly attractive environment for residents.

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Global Happiness Rank 51st (2024)

Evaluates national wellbeing and overall life satisfaction. 

Ranking among the happiest nations, it demonstrates high levels of life satisfaction driven by economic stability, strong social support systems, and a diverse, multicultural environment.

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Global Peace Index 22nd (2025)

Assesses national peacefulness, safety, and security levels.

Renowned for its political stability and low crime rates, it is considered among the most secure countries, offering a safe and peaceful environment for residents and businesses alike.

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Top Personal Income Tax Rate 33% (2025)

Progressive personal income tax rates apply

A top personal income tax rate reflects the upper threshold of individual taxation, indicating the level of contribution required from high earners within the broader fiscal system.

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Working-Age Employment Rate 77,4% (2024)

Percentage of population aged 20-64 that is employed.

With a robust employment rate supported by strong financial and service sectors, the international labour market offers extensive opportunities.

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Startup Visa

Latvia offers a startup visa as a temporary residence permit for non‑EU founders of innovative, scalable, technology‑based startups, typically granted for up to 3 years with fast evaluation of the idea.

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Entry for Non-EU Citizens

Valid passport required; Schengen visa for stays up to 90/180 days, national long‑stay (D) visa or residence permit for stays over 90 days, work, or study; check visa exemptions via Estonian MFA/Police and Border Guard Board.

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Entry for EU Citizens

Valid passport required; Schengen C visa for up to 90/180 days; apply for national long‑stay D visa or residence permit for stays over 90 days for work, study, or startup activities via MFA/OCMA guidance.

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Embassies and Consulates of Latvia

Find Latvia’s missions, visa services, and residence permit information via the Ministry of Foreign Affairs’ official consular pages.

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