For residency in Latvia, here’s what’s required:

-A minimum of €286,000 (£250,964) over a period of five years in a credit institution, or

-To invest in equity capital, the foreign national must invest a minimum of €36,000 (£31,590) and must pay a minimum of €28,600 (£25,096) in the next year.

You can apply for citizenship after five years through process of naturalization (i.e. language test, history test).

“The true catch here is when they want to get citizenship, they have to take a language test, and Latvian is an impossible language to learn as an adult,” Katz said. “No one can, and they know it, and as such they know no one will ever become a citizen.”