One of the first questions I hear from clients outside the EU is always some version of the same thing: "Wait, I can actually buy here? No restrictions?" And the honest answer is yes — but with a few things worth knowing before you sign anything.
Latvia is a European Union member state, and its property law is relatively straightforward compared to many countries. Foreign nationals — including non-EU citizens from Turkey, the UAE, Kazakhstan, or anywhere else — can freely purchase residential real estate. There's no requirement to be a resident, no special permit needed, and no nationality-based restrictions on residential property.
That said, knowing the process and what to expect will save you a lot of confusion. So let me walk through it the way I explain it to clients.
How the purchase process actually works
Property transactions in Latvia go through a notary. This isn't optional — it's required by law. The notary confirms the identities of both parties, verifies the title is clean, and certifies the transaction. After that, the ownership transfer is registered in the Latvian Land Register (Zemesgrāmata), which is the official state record of all property rights in the country.
This system is actually quite good for buyers. The Land Register is transparent and publicly searchable — you can verify ownership, check for any encumbrances, mortgages, or disputes before buying. Nothing is hidden, and once registered, your ownership is legally protected.
For off-plan purchases like Riga Waterfront, the typical flow looks like this:
- You sign a reservation agreement and pay a booking fee (usually 5%) to secure your unit at the current price
- A purchase agreement (sales contract) is prepared by legal counsel and signed — this can be done remotely via power of attorney
- Subsequent installments follow the agreed payment schedule
- Final registration in the Land Register happens on handover
The entire purchase can be completed remotely. You do not need to travel to Latvia to sign documents — a notarised power of attorney covers everything. We regularly work with clients from Turkey, UAE, and Germany who complete the full process without visiting.
What about agricultural land?
There is one restriction worth mentioning: agricultural land. Non-EU citizens cannot freely purchase agricultural land in Latvia without going through an approval process. But this doesn't apply to residential real estate or urban property — so for anything like Riga Waterfront, it's a non-issue.
Taxes and fees — what to budget for
This is where people are sometimes caught off guard, so it's worth being specific.
The state fee for registering ownership in the Land Register is paid before the entry is made. For a private buyer it is 1.5% of the property value, with a maximum of €50,000; a company pays 2%, also capped. The value used is the higher of the price in the contract and the property's cadastral value (Cabinet Regulation No. 1250, in force as of October 2026). Notary fees are separate and set by Cabinet Regulation No. 737: a notarial deed on a transaction is charged at 0.5% of the transaction amount (minimum €140), and certifying a signature on an application to a public register is a fixed €23, in both cases plus VAT (tariffs in force from 16 April 2026).
VAT depends on whether the property is new or used. Resales of used residential property are generally exempt from VAT. The sale of new or not-yet-used property — including a building that has not yet been commissioned, or one sold for the first time within a year of commissioning — is not exempt, and the standard 21% rate applies where the seller is a VAT payer (Latvian VAT Law, Articles 1, 41 and 52, in force as of October 2026). Ask your lawyer how this applies to your specific contract.
Annual property tax is a municipal tax, so the rate depends on where the property is. It is calculated on the cadastral value as at 1 January, not on the price you pay; the "fiscal" cadastral value used for taxes is calculated to match the 2012/2013 property market (State Land Service). In Riga, the reduced rates of 0.2%, 0.4% and 0.6% (applied to successive bands of the cadastral value) apply to a flat that is not used for business only if a person who meets the regulation's conditions has residence declared at the flat at 00:00 on 1 January; otherwise the rate is 1.5% of the cadastral value for the whole year. A flat owned through a company has further conditions (Riga Binding Regulations No. 148, in force as of October 2026). Rates are set by each municipality and can change — confirm the figures for your flat with the Riga City Council Finance Department or a tax adviser.
Does buying an apartment in Riga Waterfront give me Latvian residency?
No. Latvia's new Immigration Law took effect on 15 September 2026 and abolished the temporary residence permit based on the purchase of real estate. Buying property in Latvia is no longer grounds for a residence permit. Applications filed on or before 14 September 2026 were examined under the previous rules.
The investment routes that currently exist are unrelated to real estate: an investment of at least €150,000 in a state-designated alternative investment fund plus a €10,000 payment to the state budget (permit up to five years), or €50,000–€100,000 in the share capital of a company plus the same €10,000 payment (permit for two years).
We are a real estate sales partner, not immigration advisers. For your own situation, consult a Latvian immigration lawyer or the Office of Citizenship and Migration Affairs (PMLP).
What I'd tell a first-time buyer
The honest advice: don't try to navigate this alone. Not because it's complicated — it's actually simpler than many countries — but because a good local lawyer will catch things that aren't obvious from the outside. Title checks, power of attorney wording, tax implications for your own tax residence. These details matter.
The good news is that legal costs in Latvia are reasonable, and the system is transparent. There are no grey areas, no under-the-table payments, no informal "fees." It's a proper EU legal framework and it works as you'd expect.
If you're considering Riga Waterfront specifically, we handle the coordination — from reservation through to handover — and work with experienced legal partners who deal with international buyers regularly. We can walk you through every step.