Main Characteristics and the basic rules of Company registration in Latvia
Taking your business to foreign shores can be a practical and lucrative idea. However, choosing the location is of great importance. The Baltic Region is eyed by many business owners these days and Latvia is a suitable country located in this region. Its excellent infrastructure, communication provisions, and pro business policies introduced buy the govt make things easier for potential business investors. While these may seem enticing to you for business expansion in Latvia, you may try our Latvia Company Formation services.
The govt of Latvia has introduced straightforward business expansion and formation norms for the foreign company owners. You can set up branches, joint stock companies, limited liability companies in the country without facing much hurdles. The foreign investors are treated almost on par with local investors in this regard. While you need to pay minimum share capital, the Latvian Commercial Law is quite flexible and you need not pay the entire amount at once. You need not wait for a long time for starting business operations either. It can be completed in a few days in most instances.
The economy of Latvia has developed despite coping with economic hiccups over the years. The govt has also come up with a number of programs to woo foreign business investors. A number of companies have invested in Latvia in last few years and they deal with textile, food processing and IT mostly. The companies investing in niches like technology and real estate can get up to 40% rebate in corporate tax allowances for a period of 10 years.
From the logistics perspective, Latvia is way better than many countries for business operations. Situated on the edge of the EU, Latvia offers excellent logistics setup. There are 3 big seaports and aviation link to most European countries is strong enough for business needs. The country also has widespread high speed web access facilities which are a prerequisite for any business these days. If these make you eager to expand business to Latvia, check out our Latvia Company Formation services.
Finding skilled workforce with fluency in English is not a problem in Latvia. The young generations are willing to get into different sectors career wise.
The pro business factors in Latvia may prompt you to start a venture there. However, you may still require expert assistance from the BRIS group for managing legal issues. Our Latvia Company Formation services will be handy for you. Write to us to get details.
|Latvia Company Formation||Financial Advantages|
|Taxation||Yes 15% taxes|
|Double Taxation Treaty Access:||Yes Treaty Access with some countries|
|Latvia Tax Information Exchange Agreements:||Yes, Latvia signs Exchange Agreements|
|Account Filing Requirements:||Yes accounting or reporting requirements|
|Annual Return Filing Requirements:||Yes annual return/ reporting requirements|
|Audit Requirements:||No audit required.|
|Latvia Company Formation||Registration Requirements|
|Share Capital:||Standard authorised share capital: LVL2,000 Minimum paid up share capital LVL1,000|
|Classes of Share Available for Latvia company formation:||Registered shares and shares of no par value|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes, required and must be maintained in Latvia|
|Shareholders:||Minimum number is one|
|Directors:||Minimum number of directors for Latvia company formation is one. Can be any nationality and need not be resident in Latvia. Corporate directors are allowed.|
|Your Company language:||Latvian|
|Name of your Company must be ended:||LLC, SIA|
|Documents required for Latvia company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|Latvia Company Formation||Restrictions|
|For Latvia company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||No restrictions on trading|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|Latvia Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||Yes public register of company officers (Directors, Shareholders, Secretary)|
|Nominee Shareholders and Nominee Directors:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|Stability:||Extremely steady jurisdiction and highly regarded.|
|Region:||A country on the Baltic Sea between Lithuania and Estonia|
|Political System:||Parliamentary Democracy|
|Governing corporate legislation:||Commercial Code effective 1 January 2002|
|Type of Law:||Civil|
|Currency:||Latvian lats (LVL)|
|Language of Legislation and Corporate Documents:||Latvian|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.