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Incentives for investors
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) and Cohesion Fund (CF). For the current EU funding budget, Latvia has been allocated EUR 4.53 billion EUR. 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 | Maximum financing per year | Support intensity of eligible project costs | Application deadline |
|---|---|---|---|---|
| Support for employee training | Training of employees | 250 000 EUR | 50-60% | Till September 30, 2020 |
| Voucher | R&D activities, prototype development | 25 000 EUR | 45-85% | While funding is available |
| Promotion of energy efficient resources | Purchase of equipment; renovation of production buildings | 1 000 000 EUR | 30% | October 1, 2020 |
| Competence centers | Industrial research; experimental development | Depends on available financing | 50-70% +15% (effective collaboration) |
December 31, 2022 |
| Aid for investment in agricultural processing | Purchase of equipment; construction of facilities | Up to 10 000 000 EUR | 30-50% | Calls open twice a year |
Other incentives include loan programs from State Financial Institution, credit guarantees, business incubators, venture capital and others. For more detailed information, please contact the Investment team.
