Why Riga?
An old proverb says that “Riga will never be finished,” symbolizing our relentless pursuit of growth and innovation. This mindset reflects our commitment to fostering a safer, more sustainable, and resilient environment for all who live in, visit, or invest in Riga. As the city expands, it is currently experiencing its largest-ever investment in public infrastructure.
At Riga’s core is connectivity, serving as a key hub that links the region to the world through its waterways, airways, roads, and the soon-to-come Rail Baltica project. Boasting a dynamic culture and natural beauty, Riga has become a top destination for those seeking a work-life balance, contributing to a superior quality of life and continuous development. Discover a city where tradition meets innovation—just 2 to 3 hours from anywhere in Europe.
Exceptional Connectivity
Riga is a transportation nexus, home to one of the largest cargo and passenger ports. It also plays a crucial role in the global Rail Baltica project, which will fully integrate the Baltic States into Europe’s rail network. Initial railway operations are expected to begin in phases starting in 2028, and the first train routes connecting Riga to Vilnius launched at the end of 2023.
Ideal for Investors
Riga continues to be a top investment destination, accounting for around 90% of Latvia’s total investments in 2023. Choosing Riga offers a welcoming investment environment, with easy access to key decision-makers. The city still has significant room for growth due to its low company saturation, making it ripe for further development through initiatives like Riga’s Green Channel.
Competitive Tax System
Riga stands out as an attractive location for holding companies, offering zero income tax on reinvested profits and boasting one of the best stock option regulations. The municipality has also taken measures to reduce real estate taxes. Starting in 2023, more taxpayers are eligible for up to a 90% reduction in real estate tax for projects that meet criteria set by the Riga City Council. Additionally, Latvia ranked second among OECD countries in the International Tax Competitiveness Index.
Investment in Public Infrastructure
Unprecedented levels of public and private capital are being directed into cross-border infrastructure projects, positioning Riga as a key city in Northern Europe over the next decade. In 2023, the largest-ever allocation of funds—€41 million—was earmarked for the restoration and upkeep of street surfaces (up from €24 million in 2022). Hundreds of millions more have been committed to restoring the city’s bridges and promenade, with construction set to continue until 2026.
A Smart, Innovative City
Approximately 80% of Latvia’s university students study in Riga, creating fertile ground for innovation. The Knowledge Mile in Pardaugava, home to the National Library and several universities, and the VEF Quarter, where IT companies and developers experiment with smart city solutions, are two prime examples of districts exploring the possibilities of a smarter future.
A Talented Workforce
Riga’s universities consistently supply a strong pipeline of talent. In recent years, students from Scandinavia, Central Europe, and beyond have flocked to study medicine, engineering, and other high-demand fields, showcasing the quality of education in Latvia. The workforce here is multilingual, highly educated, and eager to embrace new challenges.
A City of Beauty
Riga offers more than just a few picturesque streets. From the famed Art Nouveau district and UNESCO-listed Old Town to a rich collection of historical wooden buildings, modernist architecture, and contemporary structures, the city is an architectural gem.
Green and Sustainable
With its abundance of parks, forests, gardens, waterfronts, and meadows, Riga boasts an impressive connection to nature. This natural environment improves air quality, reduces noise, and enhances the overall quality of life. Riga is also part of the “100 Climate-Neutral Smart Cities” initiative, aiming to achieve climate neutrality by 2030. In December 2023, the first electric buses began operating, and bicycle infrastructure saw significant growth—22 km of bike paths were built in 2023, compared to 6.5 km in 2022.
Work-Life Balance
Riga offers a rich cultural life, with an array of high-quality artistic and cultural events, solidifying its status as the cultural hub of Northern Europe and drawing locals and visitors alike. Diversity is the cornerstone of the city’s cultural scene, and the local government’s culture and sports budget in 2023 reached pre-pandemic levels—€40 million. The development of the Riga Philharmonic in the city center is another example of ongoing efforts to enhance the city’s cultural landscape.
