Company in Latvia
Company in Latvia.
The Foreign Company in Latvia
Company in Latvia – A lot of foreign investors consider Latvia as a great destination for offshore ventures. Several different types of companies can be opened in Latvia with advantageous features. This can be attributed to the flexible and friendly Latvian Commercial Code. Apart from lucrative onshore possibilities, Latvia’s offshore facilities are ground breaking.
Company in Latvia – The Requisites
It requires less than 16 days to establish a complete Latvian company. If you have all the documents in hand and follow the right kind of strategies, your Latvian business will be up in no time. The process of starting a company in Latvia requires the following documents:
1) You require the deeds of incorporation.
2) You require the cards of certification.
3) You should notarise the deeds of incorporation.
4) You must deposit a minimum share capital. This requires a new bank account.
5) The company should be registered at the state revenue service and commercial registry.
6) The company’s employees should be registered for the social insurance contribution. The registration happens at the State Revenue Service.
Company in Latvia – The Process
The process of hiring personnel for a company in Latvia is pretty easy. That is because there are many employment organisations and agencies in the country. As potential employers, you should be aware of certain mandatory rules and regulations.
For example, the personnel to be hired should be registered as the State Revenue Service.
There are several benefits in investing on a company in Latvia. The prime advantage would be its strategic positioning. Also, Latvia has a great presence in the EU! If you analyse Latvian history in World Trade Organisation or Schengen, you will see an amazing market. The country is famous for both open trade and free international markets. Secondly, Latvia has a wonderful infrastructure.
Three major ports and a functional airport with planes to more than 80+ locations are considered as Latvia’s key selling points.
With all this being said, here are few benefits in starting a company in Latvia:
1) The holding companies can benefit from double tax treaties. These treaties have being signed for several decades.
2) Corporate income tax of Latvian companies are exempted or credited.
3) Interests, dividends and royalties are void of hefty taxes.
4) There are plenty of Latvian lawyers to help you start a successful business. These lawyers are trained to help you with the ins and outs.