Incentives for investors

EU-funded programmes

As a Member State of the European Union, Latvia implements EU regional funding for economic and social development. The largest financial instruments from which Latvia receives EU financial assistance are EU funds: European Social Fund (ESF), European Regional Development Fund (ERDF), Cohesion Fund (CF) and Just Transition Fund (JTF). For the current EU funding budget, Latvia has been allocated EUR 10.5 billion for 2021-2027. Through EU funds, direct support is available for both local and foreign capital companies. Please see below some of the support instruments available for entrepreneurs from LIAA and ALTUM. 

Programme name Supported activities Financing Support intensity of eligible project costs
Support for employee training Training of employees 200 000 EUR (per year) 50-60%
Voucher R&D activities, prototype development 25 000 EUR (per year) 45-85%
Startup support programme R&D, innovation and new products 200 000 EUR (in 3 years) 45%
Innovation motivation programme Innovative entrepreneurship 5 303 932 EUR (total funding)  -
Research comericalization Prototyping, commercialization of R&D 300 000 EUR (per project) 90%
Support for medium and large enterprises (ALTUM) Business development 10 MEUR ( per project) at least 30% of project costs
Fast-track 'Green Channel' Shorter administrative procedures  -
International Competitiveness Promotion Attendance of conferences, exhibitions etc. Up to 75 000 EUR Up to 80%

Other incentives include loan programs from State Financial Institution, credit guarantees, business incubators, venture capital and others. ALTUM offers programs for entrepreneurs, which include loans and credit gaurantees.

InvestEU program

The InvestEU program provides investment opportunities for companies that facilitate green and digital sectors, innovation, and startup ecosystems. InvestEU Policy window contains sustainable infrastructure, SMEs, Research, Innovation and Digitalization, and Social Investment and Skills.

It has three components:

  • The InvestEU Fund - mobilizes private and public investment using guarantees from the EU budget. It has 26.2 BEUR available for investment. Incentives available are guarantees, equity and other support. More information here.
  • The InvestEU Advisory Hub - providing technical advice to investment projects. Find out more here.
  • The InvestEU Portal - database bringing together investors and projects. Find the link here.

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