"Green Channel" incentive
The Ministry of Economics and LIAA offers '"Green Channel" for investments in priority sectors:
- Smart materials and Photonics, Technology
- Biomedicine and Pharmacy
- Smart Energy and Mobility
- Transport and logistics
It shortens the time for administrative procedures by half for territorial planning, residence permits and foreign workforce attraction. The companies must fulfil 3 out of 4 criteria to apply for the support:
- The investment amount in 3 years should be at least 5 million euros (in Riga – at least 10 million euros).
- The investment project should create 75 new workplaces (in Riga–100) or 50 new workplaces (in Riga-75) with Latvia’s monthly average salary of the previous calendar year (published on the website of the Central Statistical Bureau of Latvia) multiplied with a coefficient of 1.5 (in Riga - the coefficient is 2).
- The planned product and service export amount in three years after the launch of the investment project should be larger than 3 million euros (in Riga – the amount is 5 million euros).
- The planned investment in R&D and employee competence development should be over 250 thousand euros.
For more detailed information, please contact the Investment team.
Fast-track "Green Channel" fact sheet