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Riga’s Old Town is charming, even more so than that of Vilnius, Lithuania to the south. Plus, the city has diversity. And the country is on the right track, with 4.5% GDP growth for this year, the highest in the Baltics (although down from 5.6% in 2012 and a remarkable 14% back in the mid-1990s).
And while Latvia has been one of the easiest countries in Europe to get a second residency visa for a while now, the requirements just got more difficult. The government figured it had plenty of people applying and could afford to raise the stakes.
We have good news for you now Latvia announced a new digital nomad visa. In. this video, Andrew shares that with you.
00:00 start
0:18 Living in Eastern Europe
0:41 New Digital Nomad Visa
2:45 Taxes in Europe
3:09 Moving to Latvia
6:40 Living in Latvia
Andrew Henderson and the Nomad Capitalist team are the world’s most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to “go where they’re treated best”.
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Hm… I am geographer from Europe. You use 31 years obsolete definition of Eastern Europe. Eastern Europe are Russia (38% of area of Europe), Belarus, Ukraine and Moldova. I am aware that the education is very poor in the USA but at least some basic would be fine. Poland, Czhekia, Hungary, Slovakia are Central Europe, same group as Germany, Switzerland, Slovenia and Austria. The term Eastern Europe was used for the purpose of the USA foreign policy to mark Soviet occupied countries, after year 1990-91 to divide 'poor' and 'rich' Europe, but the term became obsolete as most those countries overcame the living standard of some "West Europe". Example: Estonia, Czhekia, Poland overcame the USA by the living standard 15 years ago (the most relevant indicator to display how citizens of specific country live is IHDI)… example non ex soviet country Slovenia is ranked as the 9th country compared to Germany (now joined together with ex DDR Germany' which was classified by the USA as EE) is ranked as the 10th country and the USA is ranked as 28th country and the index is dropping. As the good education in Europe is free, up to PhD… here are my 2 euro cents.
Do you ever get straight to the point? Literally every video. Irritating!
The digital noose slowly and gently placed around your neck. First the digital passport, then the digital health blessing, then the digital currency. Obey the digital GOD's, Andrew. OBEY!!
Riga looks beautiful. It sounds like an interesting option
No real information
It's like a ,,self video add ,,
esstern europe is PRETTY dangerous!!+
Latvia's vaccine mandate was an atrocity. Residents were not allowed to enter the grocery store to buy food and had to resort to black markets conducted on the streets.
I'm not interested in just buying property to stay somewhere. Who knows what's happens to that while I'm away and flipping properties is not my cup of tea. I guess it would work if I only wanted to live in that one country forever.
The women are tall and blonde. I like tall blondes.
Which countries allow you to enter for 2 or 5 years on a tourist visa??
If the the World Economic Forum is able assume full control you can count on having your Visa's cancelled and your property seized.
Hi my dear, I want to go to Czech ? How to do that ?
Nigeria is best place to retire or migrate to from next year 2023 after this government.
Good pple, hardworking pple , welcoming pple, best place to do business, but from 2023.
Why to go in EU ? It gonna explode soon, the euro money will dive soon, the inflation will increase strongly…
VAT tax 21 %. But my beef is with banks. No large international banks. Daily limit for digital international transfers is 1000 per day.
Let’s get down to brass tacks , which is your favorite country?
Trading generally is not as easy as it seems and that's why it's advisable for one to invest with a good trader who gives guidance and also decides when it is favorable to invest. Trade only with Mr. Aubin Connor .
Eastern Europe is the best option when Russia is declaring to restore the Soviet union? Come fucking on.
For me, this is a reason not to go to Europe. Ever.
Is this a video about a digital nomad visa or golden visas? Newsflash: a lot of us who watch your videos are POOR and are just trying to get out of the US. We can't invest 250,000 Euros. We want know about the digital nomad visa you advertised not why we shouldn't bother. It's our only option.
As someone who left Latvia 2 months ago after 18 years, I have a lot of opinions about this.
I have a residency in Latvia, I own 2 businesses there, and I have a Latvian wife and 2 kids.
I left, because this country is, to quote some famous Australians, "on a highway to hell".
That country going to go down and burn faster than you can say "ak sūds"…
They are flat-out broke and incompetent. A dangerous combination…
The inflation is outrageous (as in many countries in EU), the country is run into the ground, the corruption is alive and kicking, and the government is incompetent as few. Their inability to run a country, to plan, to build strategies for the future, and keep 2 thoughts in their head at one time is flabbergasting.
There are many great Latvians, don't get me wrong. But in government…
The government, as in ministers and even prime ministers, are afraid to meet the international business community for round table discussions or any other meetings. We've had them cancel on the international community an outrageous amount of times, because they know they will be walking into a room of smart business people with hard questions.
I do not mean to scare monger in any way. But if, just if Putin feels brave and wants to take on Nato, where do you think he will strike first? It will either be in Lithuania (Suwalki corridor) or in Latvia. To follow the Russian playbook, they would go to "free the Russians" in the territories of former Soviet Union. And Latvia has 30-35% Russian, several cities are "Russian". And on top of that, in Riga, the country's capital, 51% of the population is Russian. I am not saying anything will ever happen. But if… just think about the if and line it up against the Russian playbook for invasions…
Now, as someone who has had a Latvian residency for 10 years, I would never even try to get a passport. It is not a bad passport, but it is also not easy. It does come with a set of requirements: you need to speak and write Latvian, and in order to get the passport, you will need an oral and written language test, you need to have a history test (!), and you need to know their national anthem (you will need to say it out loud, no singing required). If you fail any, you do not get your citizenship.
And, as far as I know, citizens are – with a few exceptions – not allowed dual citizenships.
My daughter currently holds a Latvian and a Norwegian passport. But at 18, as far as we understand it, she needs to choose which one she wants to keep. Norway allows 2 passports, but Latvia does not (as far as I understand it). Guess which one she will keep…
There are, without a doubt, better residencies and cities/countries to go to than Latvia. And Latvia will only get worse… I am moving all my business activities over to Estonia just to not have to deal with the effin idiots in Latvia (sorry, I am a bit sick and tired of the uselessness of that country by now).
And if you should consider setting up shop in Latvia, and will be requiring more than 1-2 people, be aware that there is both a shrinking population/negative population growth AND a huge problem on the horizon! The net outflow from the workforce (retirement) is considerably higher than the net inflow to the workforce. And remember, the young people are moving out… In the future, the lack of talent will increase labor costs dramatically (already happening, but it will be even more dramatic in 5-10 years), not to mention the competitiveness of the country.
It is currently cheaper to both live, eat and drink in Spain, Italy, and Portugal than in Latvia (and probably many of the other countries of the Eastern block).
This problem, negative population growth, and negative growth in the inflow of people into the workforce are one of the things the international community has been screaming to the government about for the last 5 years. It falls on deaf ears. This is statistics and readily available if you seek it out.
The Latvian government is like the ostrich sticking its head in the sand pretending the danger is not there. By the time the problems get real hard, most of the officials have retired or working on their own businesses, which they financed with "behind the back" type of deals while they were in power…
Stay away from Latvia would be my advice…
Rant over 🙂
Latvia is great, too bad it's neighbour is Russia
Hey Andrew. Bought your book, it was a great read. Are you part of the LGBT movement? Not sure why youve been putting on this much makeup bro
Do you ever consider or address how "wired" a country is? While there are certainly better countries for digital access, the U.S. allows for almost everything to be done online. Japan for instance is way way behind in that regard due to their aging population: it's a cash based society, very few places take debit/credit cards for normal payment and some banks don't even offer debit cards, internet connections are expensive and very substandard from a U.S. perspective. I know there are trade-offs but a country would need a strong digital presence before I would be interested in residency there.
As someone who enjoys 0 degree weather, thanks for sharing this.
BORN2GO…
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Actually,
Faith, First
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Finance, Third
Fellowship, Fourth
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Thanks for sharing friend 2 Canadians living in Mexico Cheers J&D
It's important to know that in Latvia you can be arrested for indefinitely period of time just because you made too much money in crypto. One guy made 8 mil EUR last year in crypto, his accounts got frozen and he was arrested without any explanation from authorities.
Of course they will exclude certain Countries like India, Pakistan, Nigeria etc otherwise they would be flooded with people who would potentially use the digital nomad visa as a way to enter and then disappear into Europe and never leave.
I wonder if as a retiree that doesn't want to retire to one place, this is almost an extended snowbird program. So instead of the 6 months here, 6 months there rut people get stuck into, you can spend a few years someplace and move on. This then allows you a home base to see other countries which are near by and thus cut down the total amount of travel you would end up doing otherwise. Just a thought.
Keeping it to OECD countries makes it easier form them to track your taxes.
No thank you. Eastern Europe is in a war.
I'm not sure of goal these countries have with these visas. All these temp visas I guess are just to get some tourist cash. Digital Nomad are tourists.
Lol Latvia. Worst country to end up in.
What do you think about Czech republic digital nomad visa??
I actually live part of the year in Riga. It is a lovely city with fast internet, smart and beautiful people, and it feels very "western".
"Digital Nomad Visa" is for exactly what's in the name, I guess. I think you want it to be something it's not! It's probably good for people who want to travel and can work online.
Also, no one in Eastern Europe want's anything to do with Russia, right now! Serbia is another powder keg. You shouldn't encourage people to go to these places.
Too cold! Hopefully they will stay warm this winter.
Latvia rocks
I love Latvia, especially during Fall season. Sadly, Russia is cutting off their gas ..
budapest is too hot for me in summer, maybe next summer I will spend a month there and check it out.
Ooo I’ll look into this
Yes!