Latvia Entrepreneur Visa: Your Complete Guide to Starting a Business in Latvia

Latvia Entrepreneur Visa – Learn everything you need to know about the Latvia entrepreneur visa: eligibility, application process, costs, benefits, requirements, timelines, renewal, and practical tips. Get your Latvia entrepreneur visa and build your startup in Europe.

1. Introduction

If you are an ambitious founder or investor exploring Europe as your next destination, Latvia entrepreneur visa is a pathway you should seriously consider. The Latvia entrepreneur visa (often referred to as a “startup visa” or “entrepreneur residence permit”) enables non-European Union (non-EU) nationals to establish or scale an innovative business within Latvia. Throughout this guide, you will learn in meticulous detail the Latvia entrepreneur visa — from eligibility and application to long-term residency and entrepreneurial success.

We will mention “Latvia entrepreneur visa” multiple times in this content, providing you both with SEO-rich text and high informational value. Let’s dive in.

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2. What Is the Latvia Entrepreneur Visa?

The Latvia entrepreneur visa is, in practice, a type of temporary residence permit designed for non-EU nationals who intend to start or operate a business in Latvia. Unlike a pure tourist visa, the Latvia entrepreneur visa provides legal status to reside, run your enterprise, and grow within the European Union via Latvia.

In many contexts, the term “startup visa” is used interchangeably with the Latvia entrepreneur visa. Indeed, Latvia’s startup visa program is a core route that enables non-EU founders to relocate to Latvia and build their companies.

However, note that in addition to the startup visa route, there may be alternative entrepreneur or self-employment permit pathways in Latvia, under which you can qualify as an individual entrepreneur (self‑employed) or investor. Thus, when we speak of the Latvia entrepreneur visa, it encompasses:

• The startup visa / startup-focused residence permit

• The self-employment or entrepreneur permit route

• Investor or business‑investment residence permit that supports active entrepreneurship

Throughout the rest of this guide, we will clarify and distinguish these routes.

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3. Why Choose Latvia for Entrepreneurship?

Before you commit time and resources, it helps to understand why Latvia (and a Latvia entrepreneur visa) may appeal compared to other European options.

Strategic Advantages of Latvia:

1. EU & Schengen Access
   Once you hold a residence permit via the Latvia entrepreneur visa, you can travel freely within the Schengen area (within rules) and access the broader EU business and mobility benefits.

2. Supportive Startup Ecosystem
   Latvia has positioned itself as a startup‑friendly hub. The government and organizations such as the Investment and Development Agency of Latvia (LIAA) support a startup visa scheme, mentor programs, accelerators, and funding initiatives. Startup Latvia –+2Startup Latvia –+2

3. Relatively Lower Costs
   Compared to major startup centers (London, Berlin, Silicon Valley), Latvia offers more modest living and labor costs, making it easier to bootstrap.

4. Innovative & Digital Focus
   Latvia emphasizes digitalization, innovation, and tech-based enterprises, making the Latvia entrepreneur visa attractive for tech founders.

5. Family Friendly & Mobility
   The Latvia entrepreneur visa allows bringing family members (spouse, children) and gives access to public services, e-signatures, and Latvian government infrastructure.

6. Path to Long-Term Residency / Citizenship
   Over time, successful entrepreneurs under the Latvia entrepreneur visa can transition to permanent residence and perhaps citizenship, subject to Latvian immigration rules.

Given these benefits, the Latvia entrepreneur visa represents a compelling gateway for non-EU entrepreneurs wanting to establish a base in the EU.

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4. Types of Latvia Entrepreneur / Startup Visas & Related Permits

The phrase Latvia entrepreneur visa covers multiple permit types and immigration routes. Let’s break them down:

A. Startup Visa / Innovative Business Permit

This is the most commonly referenced Latvia entrepreneur visa route. It targets founders of innovative businesses (especially tech, scalable, high-value startups). Key features:

• Valid for a maximum period (often up to 3 years) with annual renewals.

• Up to five founders per startup may apply together.

• You must commit to registering a company, being on its board, or taking an active role.

• Must show proof of financial self-sufficiency.

B. Entrepreneur / Self‑Employment Permit

This is a more general Latvia entrepreneur visa route (often for non‑startup, small businesses or freelancers). Under this:

• You may apply for a temporary residence permit for self-employment (“entrepreneurship”) in Latvia. The permit is often valid for 1 year initially, then renewable. Healy Consultants

• You will submit a business plan, demonstrate funds, and register your business in Latvia.

C. Residence by Investment / Business Investment Permit

Though not always labeled “entrepreneur visa,” this route allows application via business investments, where the applicant invests in a Latvian company (or its equity capital) and thereby qualifies for a residence permit.

In many cases, the Latvia entrepreneur visa under this route requires:

• A minimum investment (often €50,000 or more) into a Latvian company.

• Maintaining the investment, fulfilling tax obligations, business operations, and job creation.

Each route has advantages and trade‑offs. The startup route is lighter on capital but demands innovation and traction; investment routes demand higher funds but may offer more stability.

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5. Eligibility Criteria for the Latvia Entrepreneur Visa

To qualify for the Latvia entrepreneur visa (in any of its versions), you must satisfy certain eligibility criteria. Below is a summary, though specific conditions may vary by route or updated regulation.

A. General Eligibility

• You must be a non-EU national (i.e., you do not already have rights to live in Latvia/EU).

• You must have a valid passport and identity documents.

• You must follow Latvian immigration and public order rules (no serious criminal record).

• You must demonstrate adequate financial means to support yourself and your planned business.

• You must register a business in Latvia or commit to registering within a defined period.

• You must actively participate in the business (especially for startup or self-employment permits).

B. Startup Route Specifics

• The startup must be innovative (new or significantly improved product or service).

• The startup must not be older than a defined period (often registered no more than 1 year ago) at time of application.

• The applicant must become a board member or operate the startup.

• You may be required to show a business plan, projections, competitor analysis, and market potential.

• Some routes require attracting investment (e.g. €30,000 from VC or qualified investor within time limits) or producing progress reports.

• Proof of financial self-sufficiency (for living costs) is required. For example, showing a minimum of ~€4,560 in the bank to cover initial months.

• You must provide proof of accommodation in Latvia.

C. Entrepreneur / Self-Employment Route

• You submit a viable business plan for the enterprise you will run.

• You must show you have or will have sufficient finance to start and sustain that business.

• You must register the business and be actively involved.

• You must meet any licensing or sector requirements if your business falls under regulated industries.

D. Investment / Business Investment Route

• You must make the required minimum capital investment (frequently ~€50,000) into a Latvian company.

• The company may need to meet turnover, employment, or operational criteria.

• You must maintain the investment over a period (often several years).

• You may need to contribute a state budget or donation (e.g., €10,000) depending on the scheme.

• You must comply with all legal, tax, and reporting obligations.

It is essential to check the current guidelines from the Latvian Office of Citizenship and Migration Affairs (OCMA) or consult a legal expert to validate up-to-date eligibility criteria.

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6. Required Documents

When applying for the Latvia entrepreneur visa, you will need to assemble a well-prepared application with supporting documents. Here’s a comprehensive list; note that exact requirements may differ depending on your nationality, visa route, or consular office.

Core Documents (Common to Most Routes)

1. Valid passport with remaining validity beyond the intended residence period.

2. Completed residence permit / visa application form (as per Latvian immigration authority).

3. Recent passport-size photographs (as per Latvian photo specifications).

4. Proof of financial means / bank statements demonstrating you have sufficient funds to support yourself (and family) during the initial period in Latvia.

5. Proof of accommodation in Latvia — lease agreement, hotel booking, landlord’s letter, or similar.

6. Business plan / description of your idea, including market analysis, projections, and growth strategy (especially for startup / entrepreneur routes).

7. Company registration documents (if your startup is already registered) or a commitment to register within a given timeframe.

8. Criminal record certificate(s) from your home country (and possibly from countries where you have lived) — translated and apostilled if necessary.

9. Medical certificate / health clearance (if required, sometimes a certificate that applicant is free of tuberculosis or other serious conditions).

10. Proof of payment of application / visa fees.

11. CV / resume, detailing your educational and professional background.

12. Documents related to any initial investments (if applying via investment route), such as bank transfer receipts, shareholder agreements, proof of capital deposit.

13. Translated documents (into Latvian or official accepted languages such as English) with certified translations as required by immigration.

Additional Documents for Startup Route

• Detailed pitch deck / prototype / technical specifications of the product or service.

• Traction metrics, user base, prototype, MVP, or development roadmap.

• Proof of innovation / novelty / competitive advantage.

• Commitment from founders / team member statements.

• Investment or funding commitment letters if available.

• Financial projections for next 3 years (revenues, costs, profits).

Additional Documents for Investment Route

• Proof of investment / capital contribution (bank statements, investment contracts, share certificates).

• Corporate documentation of Latvian company (articles of association, shareholder registry, etc.).

• Proof of operational activity in the company (if already operational).

• Donation / state fee payment receipts (if scheme demands a donation to state).

Before submitting your Latvia entrepreneur visa application, double-check with the consulate or OCMA for the exact document checklist relevant to your country and chosen route.

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7. Application Process Step by Step

Here is a general step-by-step guide to applying for the Latvia entrepreneur visa. The exact process may vary by country, consulate, or route, but this gives you a clear roadmap.

Step 1: Preliminary Eligibility Check & Consultation

• Research the route (startup, self-employment, investment) that fits your business plan.

• Consult Latvian immigration websites or legal experts to confirm you qualify.

• Optionally, contact initiatives such as Magnetic Latvia Startup / LIAA for eligibility assessment. Startup Latvia –+1

Step 2: Prepare Your Business Plan & Supporting Documents

• Draft a robust business plan, projections, pitch deck, market analysis.

• Collect all necessary personal, financial, and company documents.

• Translate and certify translations as needed.

Step 3: Register or Commit to Register Your Business

• For startup routes, either register your company in Latvia or plan to do so within the permitted timeframe.

• For investment routes, you may already need to invest or commit funds.

Step 4: Submit Application to Latvia’s OCMA or via Latvian Consulate

• If you are inside Latvia, apply at the Office of Citizenship and Migration Affairs (OCMA).

• If outside, lodge your Latvia entrepreneur visa application at the Latvian embassy or consulate in your country (or nearest one).

• Include all required supporting documents.

• Pay the applicable application fees.

Step 5: Wait for Processing & Possible Interview

• The processing time is often around 30 business days (though this may differ).

• You might be called for an interview, asked to clarify parts of your business plan, or present additional documents.

Step 6: Travel to Latvia & Collect Residence Card

• If approved, travel to Latvia (if not already there).

• Visit the OCMA or relevant authority to submit biometrics, register your address, and collect your temporary residence permit card (often in the form of an electronic ID card).

Step 7: Fulfill Obligations & Begin Business Operations

• If stipulated by your permit, engage actively in your business (e.g. board member duties, business development).

• Comply with reporting, legal, tax, and operational obligations.

• Prepare for renewal by meeting performance criteria, financial obligations, and investment goals.

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8. Processing Time & Fees

Processing Time

• In many cases, Latvia entrepreneur visa applications are processed within 30 business days (roughly 4–6 weeks).

• For special or expedited processing, consulates or migration authorities may offer faster timelines (depending on workload).

• In practice, some cases take slightly longer, especially if clarifications or additional documents are required.

Application Fees

The fees depend on the visa route, your country of origin, and immigration rules in force. Some indicative figures:

• Standard application fee for a startup or residence permit: ~ EUR 100 (or local equivalent) in many cases.

• Additional costs: translation, document legalizations, courier, travel, legal or consultation fees.

• For investment routes, there may be donation or state fee requirements (e.g. €10,000 donation in some investor visa schemes).

• For business investment residence permit, you may need to commit capital (e.g. €50,000) which is not a “fee” but an investment.

Always confirm the exact fee schedule from the Latvian immigration authorities or consulate in your country before filing your Latvia entrepreneur visa application.

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9. Rights and Benefits Under the Latvia Entrepreneur Visa

When you successfully obtain a Latvia entrepreneur visa (residence permit for entrepreneurial purposes), you gain a suite of rights and benefits that support your life and business in Latvia and Europe.

Key Rights & Benefits

1. Legal Residence in Latvia
   You can legally live in Latvia for the permit duration (often up to 3 years in startup route, or as per permit) and renew as needed.

2. Right to Run a Business / Work
   You are permitted to operate your company in Latvia, act on its board, and be active in its affairs (depending on route).

3. Travel within Schengen / EU (within rules)
   You can travel (visa-free) within the Schengen Area (subject to stay limitations).

4. Bring Family / Dependents
   You can bring your spouse and minor children under family reunification rules.

5. Access to Latvian Public Services & e-Government
   You may obtain an e‑ID, e-signature, and access government services online.

6. Renewability and Stability
   A Latvia entrepreneur visa can often be renewed annually or periodically as long as you continue fulfilling obligations.

7. Path to Permanent Residency & Citizenship
   With continued residence, good standing, and meeting language / integration requirements, you may apply for permanent residence and eventual Latvian citizenship (depending on years of residence, e.g. 5–10 years).

8. Integration into EU Business Ecosystem
   You can access EU markets, partners, funding, and networks from Latvian base.

These benefits make the Latvia entrepreneur visa not just a legal status but a strategic foundation for long-term growth.

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10. Family Reunification & Dependents

One of the significant attractions of the Latvia entrepreneur visa is the ability to bring your immediate family members. Here’s what you should know:

Eligible Family Members

• Spouse / legally recognized partner

• Minor children (often under 18)

• In some cases, dependent adult children or parents (depending on national rules)

Application & Documents for Family Reunification

• Submit a family reunification request along with your primary Latvia entrepreneur visa application or after your permit is approved.

• Provide marriage certificate, birth certificates of children, passport copies, criminal record certificates for family members (if required).

• Proof of adequate accommodation for all family members.

• Proof of financial means to support dependents (minimum income or savings).

• Health insurance coverage for the entire family.

Rights for Dependents

• They generally receive residence permits valid for the same duration as the main permit holder.

• Spouse may have permission to work (subject to Latvian immigration rules).

• Children can attend schools and public services in Latvia.

Bringing your family with the Latvia entrepreneur visa helps you settle more fully and build a stable life in Latvia.

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11. Renewal & Long‑Term Residency

Securing the Latvia entrepreneur visa is just the beginning. To maintain your status and grow long-term, you need to understand renewal, performance criteria, and the route to permanent residency.

Renewal of the Entrepreneur / Startup Permit

• Most Latvia entrepreneur visas (especially startup ones) must be renewed annually or periodically (e.g., each year or every 2 years) until the permit’s maximum duration (often up to 3 years). Startup Latvia –+2Startup Latvia –+2

• To renew, you must typically demonstrate ongoing compliance:

  • Business operations continuing and financial stability

  • Submission of progress reports (revenue, users, growth)

  • If required: investment or funding milestones achieved

  • Tax payments, legal compliance, and no violations

• The renewal application should be filed before your current permit expires.

Transition to Permanent Residence / Long-Term Stay

• After several years of successful renewals (commonly 5 years), you may be eligible for a permanent residence permit in Latvia.

• To qualify:

  • You usually must have lived in Latvia for a minimum number of days per year

  • You should demonstrate knowledge of the Latvian language (often level A2)

  • You should satisfy integration tests (history, civics)

  • You should maintain a stable legal and financial standing

Citizenship / Naturalization

• After an extended period (often 10 years), and fulfilling all legal, language, and integration criteria, some entrepreneurs may apply for Latvian citizenship.

• Note: Latvia generally requires renunciation of other citizenships (though some exceptions may apply).

Throughout these stages, staying compliant, maintaining your business activity, and meeting immigration requirements are critical.

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12. Taxes, Business Setup & Operational Requirements

Running a business under the Latvia entrepreneur visa means compliance not only with immigration obligations but also with Latvian corporate and personal tax regulations. Here’s what you need to know about business setup and taxation.

Business Registration Procedures

1. Choose a Type of Legal Entity
   Common forms include SIA (private limited company) or sole proprietorship (if allowed). For startups, SIA is often preferred.

2. Register with the Latvian Enterprise Register
   Submit articles of association, founder information, share capital, registered address, etc.  Service+1

3. Open a Bank Account
   In many cases, founders must deposit share capital into a temporary bank account.

4. Register with the State Revenue Service (SRS)
   For tax purposes, VAT registration (if applicable), employer registration if hiring, and social security registration.

5. Obtain Licenses (if needed)
   If your business operates in regulated sectors (e.g. financial services, healthcare), you may need additional licenses or approvals.

Taxation in Latvia

Here’s an overview of the key taxes applicable to businesses and entrepreneurs under the Latvia entrepreneur visa:

1. Corporate Income Tax (CIT)

   • Latvia uses a distributed profit taxation model: Most profits retained in the company are not taxed until distributed as dividends.

   • When profits are distributed, a rate of ~25.5% is levied (previously 20‑31%).

   • Income over €105,300 may be taxed at 33%. Personal Income Tax (PIT)

   • When you draw salary or dividends, you pay personal income tax.

   • Rates and brackets may vary; self-employment income is taxed differently.

2. Value Added Tax (VAT)

   • Businesses exceeding a threshold revenue must register for VAT and apply the standard rate (e.g. 21%).

   • For smaller businesses, VAT registration may be optional.

3. Mandatory State Social Insurance Contributions (MSSIC)

   • If hiring employees or drawing salary, social contributions are required.

4. Other Taxes & Contributions

   • Local taxes, property tax (if you own real estate), health insurance, etc.

Compliance & Reporting

• Annual financial statements must be filed.

• VAT returns, tax declarations, payroll reports must be submitted via the Latvian Electronic Declaration System (EDS).

• Stay current with accounting, local regulatory requirements, and audits (if applicable).

• Noncompliance or failure to meet obligations may jeopardize your Latvia entrepreneur visa renewal or immigration status.

Operational Expectations

• Active involvement: You may be expected to lead the business, make decisions, and engage in its operations.

• Performance targets: Especially in the startup route, hitting milestones or investment targets may be required for renewal.

• Transparency, accountability, and good corporate governance are critical.

By carefully structuring your company, managing taxes, and adhering to compliance, you strengthen your standing under the Latvia entrepreneur visa and reduce risk.

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13. Challenges & Common Pitfalls

While the Latvia entrepreneur visa offers many benefits, aspiring applicants often face challenges. Being aware in advance helps you mitigate risk.

Common Challenges

1. Strict Innovation Requirements (Startup Route)
   The startup route demands innovation, scalability, and strong market potential. If your business is too traditional or lacks clear differentiation, your application may be rejected.

2. Insufficient Financial Proof
   Demonstrating financial self-sufficiency for the first months—especially if your startup has no revenue—can be burdensome.

3. Meeting Milestones / Investment Targets
   Some startup visa routes require acquiring investment from qualified investors within deadlines (e.g., €30,000 within 12 months). If you fail, renewal or permit continuation may be jeopardized.Translation & Certification Errors
   Failing to properly translate or certify documents can stall or invalidate your application.

4. Legal / Tax Noncompliance
   Failure in accounting, tax filings, employment law, or other regulatory areas can jeopardize your permit.

5. Underestimating Costs
   Business setup, legal advice, office space, salaries, infrastructure, local costs—all can add up, especially in the early period.

6. Visa Delays / Processing Issues
   Even though 30 business days is common, delays or requests for clarifications are possible.

7. Dependency on One Project / Product
   If your startup idea falters or demand is weak, your viability as an entrepreneur may be questioned.

8. Language / Cultural Barrier
   While English is widely used, understanding Latvian business culture, local norms, and bureaucracies will help.

9. Changes in Immigration or Investment Policies
   Immigration rules, minimum investment amounts, and visa routes can change. What works today may not be valid tomorrow.

How to Mitigate Risks

• Engage with a local legal or immigration advisor early

• Build a robust, defensible business plan with multiple revenue streams

• Maintain backup financial reserves beyond minimum requirements

• Ensure accurate translations, certifications, and document compliance

• Monitor deadlines, renewals, and obligations proactively

• Stay abreast of Latvian immigration and investment law changes

• Build local partnerships or hire local staff to ease cultural navigation

By anticipating these pitfalls and preparing thoroughly, you increase your odds of success with the Latvia entrepreneur visa.

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14. Tips for Success

Here are practical tips to strengthen your chances when applying for the Latvia entrepreneur visa and running your business thereafter:

1. Leverage Local Support Programs
   Tap into accelerator programs, startup hubs, and government support (e.g., LIAA, Magnetic Latvia).

2. Validate Your Market Thoroughly
   Conduct customer interviews, market research, competitive analysis, and prove demand before applying.

3. Secure Investment Early
   Even partial funding commitments strengthen your application credibility.

4. Show Progressive Milestones
   Provide credible plans, prototypes, MVPs, and development timelines.

5. Be Conservative in Projections
   Immigration officers appreciate realistic financial forecasts rather than wildly optimistic ones.

6. Engage Local Advisors / Accounting / Lawyers
   They know Latvian corporate law, translation, compliance, and can help you avoid errors.

7. Plan for Renewal Early
   Document your progress, keep accurate records, and be ready to present evidence at renewal time.

8. Network in the Local Ecosystem
   Connect with other entrepreneurs, investors, tech events, universities, and Iceland/European networks.

9. Hire Local Talent
   Having local employees or collaborators enhances legitimacy and integration.

10. Understand Cultural / Language Norms
    Learning some Latvian, understanding local business etiquette, and learning EU regulations will help.

By following these tips, you position your Latvia entrepreneur visa application and subsequent operations for long-term success.

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15. Frequently Asked Questions (FAQs)

Q: Is “Latvia entrepreneur visa” the same as “startup visa”?
A: In many cases, yes. The Latvia entrepreneur visa often refers to the startup visa route offered to founders and innovative businesses. But “entrepreneur visa” can also refer to self-employment permits or investor/business investment residence routes.

Q: How many founders can apply together under the Latvia entrepreneur visa?
A: Up to 5 founders working on the same business idea may apply together in some startup visa schemes.

Q: What is the minimum financial requirement?
A: For the startup route, you may need to show ~€4,560 in the bank (to cover initial months).  Service+1 Investment routes often require capital injection (e.g. €50,000).

Q: Can my spouse work?
A: In many cases, yes. Dependents (spouse, children) under family reunification often gain rights to work or study. Always verify with the local immigration authority.

Q: Do I have to live in Latvia continuously?
A: Typically there is no strict minimum stay requirement (especially under investment-based permits). But to qualify for long-term residence or citizenship, you may need to accumulate physical presence.

Q: How long is the permit valid?
A: Under the startup route, up to 3 years (with renewals).  Investment-based permits may offer 5-year validity or more. 
A: Permanent residency may be attainable after ~5 years of continuous legal residence. Citizenship (if eligible) may require ~10 years.

Q: Can I switch from startup route to investment route later?
A: In principle yes, if you meet criteria for the other route and apply accordingly. But rules vary, so check with immigration authorities.

Q: What if my application is rejected?
A: You may receive the reason for rejection. You can appeal or reapply, correcting deficiencies. Engaging an immigration lawyer helps.

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16. Conclusion

The Latvia entrepreneur visa presents a powerful, accessible route for non-EU founders and business owners to establish a foothold in Europe. It blends favorable startup policies, relatively moderate costs, family inclusion, and paths to permanent residence and citizenship.

However, success with the Latvia entrepreneur visa requires a robust business plan, compliance with financial and legal obligations, meeting innovation criteria (for the startup route), and navigating immigration, tax, and operational challenges. By preparing thoroughly, working with local advisors, and planning for long-term growth and renewal, you can maximize the potential of the Latvia entrepreneur visa as your gateway to European entrepreneurship.