Financial support and programs offered for foreign investors to train employees

Effective February 1, 2017, qualified companies registered in Latvia with foreign direct capital can apply for funding and administration of employee training programs. Large companies can receive financial support of up to 35% of training expenses and medium size companies up to 45%. The maximum amount aid available per company is 250,000 EUR. The funding can be used for training to implement a product, service, process, marketing or organizational innovation. The training programs will be custom made for each individual company, based on the application and the type of training requested. They are funded by the European Regional Development Fund (ERDF) and administered by the Investment and Development Agency of Latvia (LIAA).

To qualify, the company must meet the following criteria:

  • be registered in Latvia within the last 12 months at the time of filing the application;
  • have a company group turnover of at least 5 million euro in the last year;
  • have a plan of creating 15 new jobs or invest at least 1 milion euro in fixed assets;
  • develop products or technologies in one of the Smart specialization strategy fields or in a new competitive niche approved by the industry (specified below).

Smart specialization strategy fields:

  • knowledge-intensive bio-economy;
  • biomedicine, medical technology, biotechnology and biopharmaceutics;
  • smart materials, technology and engineering systems;
  • smart energy;
  • information and communication technologies.

Qualifying expenses

  • training fees, directly associated with the training project, including instructor wages and social security payments, and instructor and participant travel fees;
  • learning material and service fees directly associated with the training;
  • participant testing and need assessment fees;
  • training facilities and training equipment fees;
  • certification and examination fees.

Additional information about the state-administered employee training program for companies with foreign direct investment is available by contacting the Investment and Development Agency’s investment team.