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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:
| 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% |
| Norwegian Financial Instrument | Green innovation and ICT products | 14 705 882 EUR (total funding) | Co-financing for small and medium-sized enterprises |
| 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) | - |
| Reserch comericalization | prototyping, commercialization of R&D | 300 000 EUR (per project) | 90% |
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.
