Residency in Latvia offers investors the opportunity to travel freely throughout the EU Schengen visa zone. After five years, applicants can apply for permanent residency, provided they have resided in the country for the majority of that period. With the Latvian capital, Riga, just a 90-minute flight from Moscow, Latvia serves as a convenient destination. Given that Russian is widely spoken in Latvia, the country is a favored choice among Russians seeking investor visas, residency, and citizenship in Europe.