Fast-track 'Green Corridor' initiative

The Ministry of Economics and LIAA offers '"Green Corridor" for investments in priority sectors:

• ICT
• Bioeconomy
• Smart materials and Photonics, Technology
• Biomedicine and Pharmacy
• GBS
• Smart Energy and Mobility
• Construction 
• 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.

  Downloads

Fast-track "Green Corridor" fact sheet

Frequently asked questions:

Questions and answers within the Fast-track "Green Corridor” initiative.

What is a project implementation location? 

Project implementation location is where the project applicant manufactures the product or provides services, according to the Regulations of the Cabinet of Ministers. The project may be implemented at several addresses if there is a unified manufacturing or service provision chain).

What documents certify the availability of financing? 

The availability of financing is certified by, for example:

• an agreement with a credit institution registered in the European Union or the European Economic Area regarding the necessary financing;
• an agreement with an associated party regarding the financing necessary, if the equity specified in the last concluded annual report of the associated party constitutes at least 100% of the total costs of the project;
• a corresponding project applicant board decision regarding the financing from their funds, if the equity specified in the last concluded annual report is at least 100% of the total project costs.

The Investment and Development Agency of Latvia will check the Lursoft public database for the equity of the corresponding merchants indicated in their last concluded annual report.

If the associated party providing financing is a foreign merchant not registered in the Register of Enterprises of the Republic of Latvia, a translation into Latvian of the last concluded annual report indicating the equity has to be provided.

Is the business plan to be submitted separately from the description of the investment project? 

The submission of a separate business plan is not a mandatory requirement. The Investment and Development Agency of Latvia will mainly evaluate the information specified in Subparagraphs 8.2.1-8.2.8 of the Regulations; however, this information should be indicated in a separate section of the application — “The description of the investment project business plan and the investment project”.

Contacts

Riga office

Address: 2 Perses Street, Riga, Latvia, LV-1442
Web: www.investinlatvia.org
For more information: invest@liaa.gov.lv
Phone: +371 25710113
For tailored advice contact our team of experts