+ Nominee shareholder for 1 year | included in price |
| Annual maintenance (accounting, reporting, secretary and office) | 3000 EUR |
Republic of Latvia
Our company provides company formation services in Latvia. Our proposal for those who wish to start a business in Latvia is as follows:
• Consultations on all aspects of doing business in Latvia
• Preparation of documents required for company registration
• Provision of a company secretary
• Registered office address in Latvia
• Opening a corporate bank account with a Latvian bank
• Mail forwarding and secretarial services
You can also purchase a ready-made company, which will be re-registered in your name within 1 hour. We offer a wide selection of companies with different incorporation dates and neutral names.
Upon completion of the procedure, you will receive a full set of documents for the newly formed legal entity, as well as tools for managing your business from anywhere in the world.
Company in Latvia
Latvian companies are not under suspicion by the tax authorities of respectable jurisdictions. This state is not an offshore: Latvia is a full member of the European Union and therefore companies in Latvia have the right to operate throughout the European Union and have all the advantages of European companies.
Business in Latvia has the following advantages:
• The presence of banks in the country that provide rare services
• Relatively low corporate income tax
• “Flexibility” of local officials – Latvia is culturally close to the CIS countries
• Increased prestige of business – Latvia is a member of the EU
• More than 40 agreements with different countries on the avoidance of double taxation (recently also with Russia)
• Ease of depositing funds – dividends from foreign companies are not taxed
• Simplified procedure for entrepreneurs to obtain a residence permit in Latvia
Those wishing to register an enterprise in Latvia most often choose the form of a Limited Liability Company (SIA) or a Joint Stock Company (AS). With a few exceptions, the registration requirements are similar in both cases.
Information about SIA company:
| Company Types | Limited Liability Company (SIA) |
| Authorised share capital | Minimum LVL 2000 (approximately $ 4000) |
| Is payment of the authorised capital required | Half is paid upon incorporation (can be in kind) |
| Are bearer shares allowed | NO |
| Shareholders | min. number 1 par value possible – NO legal entity possible – NO |
| Directors | min. number 1 nominee possible – NO legal entity possible – NO |
| Confidentiality | The register is open, information is publicly available |
| Taxation | Corporate income tax – 15% VAT – 22% (12%) Social tax – 35% (11% of which is paid by the employee) There is no capital gains tax |
| Accounting records required | YES |
| Reporting required | YES |
| Registered office required in the territory | YES |
| Secretary | Not required |
| Meetings of Shareholders/Directors | Required once a year |
Information for those wishing to register an AS company:
| Company Types | Limited Liability Company (SIA) |
| Authorised share capital | Minimum LVL 25,000 (approximately $ 50,000) |
| Is payment of the authorised capital required | Half is paid upon incorporation (can be in kind) |
| Are bearer shares allowed | NO |
| Shareholders | min. number 1 par value possible – NO legal entity possible – NO |
| Directors | min. number 1 (3 – if shares are in public circulation) nominee possible – NO legal entity possible – NO |
| Confidentiality | The register is open, information is publicly available |
| Taxation | Corporate income tax – 15% VAT – 22% (12%) Social tax – 35% (11% of which is paid by the employee) There is no capital gains tax |
| Accounting records required | YES |
| Reporting required | YES |
| Registered office required in the territory | YES |
| Secretary | YES |
| Board | Required |
| Meetings of Shareholders/Directors | Required once a year |
Registration in Latvia
Registration in Latvia takes place upon submission of the following documents:
• Memorandum of Association and Articles of Association of the enterprise
• Certificate of payment of the authorised capital
• Receipt for payment of the registration fee
• Names, residential addresses and specimen signatures of the founders of the company
• Names, residential addresses and specimen signatures of the members of the Management Board
• Documentary confirmation of the legal address
Our specialists will undertake the preparation, translation and certification of documents required for company registration in Latvia. In addition, we will do everything necessary for their acceptance by the registration authorities.
You can open a business in Latvia without being physically present.
The standard term for registering a company in Latvia is 4 working days from the date of submission of documents to the registration authorities.
Business in Latvia
It is not entirely correct to use the word offshore in relation to Latvian companies: Latvia is not one of the “tax havens” or countries with low-tax jurisdictions. There are quite stringent requirements for accounting, enterprises in Latvia are required to submit various reports on a monthly basis. In addition, when paying royalties to a foreign company or the Republic of Latvia will withhold 10% of the amount.
However, for most entrepreneurs, business in Latvia is still a kind of European offshore: Latvia allows you to do business in Europe with low taxation. In this sense, it is a direct competitor to the Republic of Cyprus. The difficulties with the withdrawal of money are compensated by the understandable mentality of local officials.
Company in Latvia
The state of Latvia is in dire need of foreign investment. For this reason, the country is reducing tax rates and simplifying taxation. For example, the opportunity has recently appeared to register a new interesting form of ownership, the “Small Capital LLC” (“mazkapitāla SIA”). This company in Latvia differs from the traditional LLC in the size of the authorised capital (LVL 1) and reduced registration costs. You can learn more about this type of company from our consultants.
If you are interested in a company in Latvia – contact us. Our company carries out registration of legal entities as soon as possible and at the most favorable prices. Call us.
