Riga has claimed the international investment spotlight recently thanks to its unprecedented economic growth and outstanding economic potential.
Part of NATO, the European Union, the Eurozone and the OECD, this tiny undiscovered Northern European gem is the largest capital city in the Baltics. Despite having a population of just 500,000 the city has become home to innovative startups, a thriving tech scene and a lucrative real estate market that provides some outstanding investment opportunities.
Invest in Riga and you’re investing in your business and personal future. Whether you choose to launch your business in the city, foster global growth or diversify your real estate portfolio, Riga is the ideal European location.
So why invest in Riga? What investment opportunities can you find? How do you get started? Let’s take a look.
Why invest in Riga?
When you invest in Riga, you’re taking advantage of a growing economy that provides both the safety and business opportunities of larger European capitals without the same high cost of living.
Since joining the EU, economic growth has been incredible. GDP continues to grow despite the COVID pandemic and the country continues to set new records for foreign direct investment.
The tax system
Latvia offers one of the most business-friendly tax systems in the world, reaching 2nd place in the 2022 International Tax Competitiveness Index. It’s also 1st for corporate taxes and 4th for individual taxes.
Low level of saturation
Riga’s untapped potential means that it’s easier to establish a new business or grow an existing brand, boost visibility and enhance brand awareness. This is unlike many other European cities that have already been discovered by large international businesses.
Stable, safe and anticorruption
Despite its difficult history, Latvia is a politically stable country and free from corruption. It’s also a very safe place to live, with zero no-go areas in the city and low crime rates.
Strategically positioned in Northern Europe, Riga provides an excellent bridge between European and Asian markets. With more than 100 direct flights to the rest of the world, it’s easy to commute to other cities.
Invest in Riga and you can benefit from a business-friendly environment with high-quality coworking spaces, low-cost office rentals, one of the fastest internet speeds in the world and a low cost of living.
Riga boasts a highly educated, multilingual talent pool that is creative, innovative and forward-thinking. The city also attracts students from around the world who are keen to kickstart their careers in this thriving economic environment.
Thanks to various startup initiatives, funding opportunities and an outstanding business infrastructure, Riga offers the perfect conditions to start a new business.
Latvia is a lush green and unspoilt country with forests, national parks, waterfalls and white sandy beaches. If you love nature or need a better work-life balance, invest in Riga.
Quality of life
When you invest in Riga, you can enjoy a low cost of living, friendly locals, outstanding nightlife and architecture and a vibrant cultural scene.
What investment opportunities can you find in Riga?
Whatever your background or goals, Riga offers the ideal investment opportunities.
Riga is one of the best places for startups in Europe thanks to its business-friendly tax system, thriving economy, great infrastructure and low cost of living. There are also startup visas for non-EU startups, stock option regulations and a young and innovative talent pool that will benefit any business.
Real estate investment
Real estate investment in Riga remains a popular investment choice as it’s still possible to find commercial or residential properties for less than €1000 per square metre.
As the Latvian economy grows, prices increase so it’s better to invest now and generate maximum ROI on your investment. If you’re considering investing in a property to rent, you can expect an annual yield of around 4%.
Riga business development
Whatever your business sector, you can invest in Riga business development and generate excellent ROI.
Thriving sectors include ICT (Information and Communication Technologies) such as AI, automation, cloud solutions, software development and robotics, the manufacture of electronics, options and lenses, global business services and financial services.
How to start investing in Riga
If you’re curious about how investing in Riga can help grow your investment portfolio, start your new business or expand your business abroad, start by considering the options available to you.
There are also various funding opportunities and investment incentives that can help you achieve your business and financial goals including Workcation Riga 2022, Green Channel, incentives for filmmakers and other business incentives.
Invest in Riga and you can take advantage of its thriving economy and fruitful business environment. Whether you have a startup, want to grow your business abroad or simply want to invest in real estate, this Baltic hidden gem provides it all.