Company registration in Latvia

Registration fee is from 2000 €

Registration period — 2 weeks

Minimum authorized capital - 1 EUR

Remote opening — yes

Financial statements — yes

Maira Consult recommends using companies registered in Latvia to conduct foreign economic activity and trade operations in the EU, as well as, if necessary, to purchase real estate, obtain a residence permit and, subsequently, Latvian citizenship.

According to Latvian legislation, if the turnover of a Latvian company exceeds 3500 EUR per month, it is necessary to hire at least one employee for a minimum salary of 700 EUR, or inherit;">, or a member of the board itself without restrictions on citizenship (approximately 300EUR of taxes, 400EUR will be received by the director).

There are no requirements for the mandatory employment of local citizens in a Latvian company.

It is possible to open an account in a Latvian bank for a Latvian company.

It is possible to register a company in Latvia in a week.

How to open a company in Latvia for a non-resident is well known by our specialists, who provide highly qualified service and advise on all issues related to registration. We will help you register a limited liability company in Latvia and open up all the possibilities for you to start a business in Latvia quickly and without any problems.

Latvia advantages

1

Tax on retained earnings 0%.

2

Low maintenance cost

3

Geographical location

4

Registration speed

5

Possibility of opening an account in Latvia

General Information

Registration Features

There are several forms of companies in Latvia: Individual entrepreneur (IE), Limited Liability Company (SIA), and Joint Stock Company (AS). As a rule, sole proprietorships are registered by individuals whose income does not exceed 2-3 thousand EUR. The most common form of company is a limited liability company (SIA).

Company Name

To open an SIA in Latvia, the name of your company must end with a word, phrase or abbreviation indicating limited liability, i.e. "SIA". Proper SIA registration in Latvia involves compliance with this requirement for the company name.

Authorized Capital

The minimum authorized capital for starting a company in Latvia is only 1 EUR, which makes business in Latvia affordable and attractive for new entrepreneurs.

Director

A minimum of one individual is required to register a company in Latvia and there are no residency requirements, making it easy for a non-resident to open a company in Latvia.

Shareholders

To open a company in Latvia for a non-resident, a minimum of one legal entity or individual is sufficient, and there are no residency requirements.

Financial Reporting

The company's fiscal year is from 01.01 to 31.12. The annual financial report must be submitted to the Latvian Tax Service by April 30.

Taxation

The income tax rate is 0%. If the company does not distribute profits among its founders (does not pay dividends), such a Latvian company is exempt from paying income tax. If the company decides to distribute profits in favor of the founders, the tax that arises is 25%. VAT - 21%. The company needs to obtain a VAT certificate if the turnover of the Latvian company over the past 12 months has exceeded or will soon exceed EUR 40,000.

Confidentiality

The register of companies in Latvia is open and contains information on the date of registration of the company, members of the board, the amount of the authorized capital and its status. When registering a company in Latvia, information about the company's beneficiary (a person who controls 25% or more of the shares) must be submitted to the company register.

Stages of company registration

01

Choosing the name and form of the company

To register a company in Latvia, you need to provide several options for company names. The name must be original, unique in the Latvian language and must not contradict the legislation of Latvia.

02

Preparation and collection of documents

At this stage, you provide a scanned copy of the passport of the founder and director of the company and proof of residence. If there are several founders, it is necessary to indicate the division of capital shares between them.We prepare the first part of the documents for signing.

03

Identification of company participants

Registration of a company in Latvia can be done remotely or with a visit to Latvia. If the founder of the company has an electronic signature or during a personal visit, company registration in Latvia is possible within 1 week.

04

Formation of the share capital (if necessary)

The authorized capital must be paid when registering a company in Latvia. Funds are deposited to a special temporary account of a Latvian company.

05

Company registration

After the authorized capital is paid in, we submit documents for registering a company in Latvia to the Register of Enterprises.

06

Receiving of corporate documents

After the company is registered in Latvia, we receive a package of documents from the Register of Enterprises of the Republic of Latvia.

07

Legalization of documents (if necessary)

If necessary, after the company registration in Latvia, the company's documents can be submitted for legalization and apostillization. This also applies to the SIA registration process in Latvia, if international confirmation is required.

08

Delivery of corporate documents

The original corporate documents of a company in Latvia are sent by courier service, which ensures fast and secure delivery for your business.

Answers to the Most Common Questions:

To open a company in Latvia it is necessary to go through the registration procedure, which includes choosing and checking the uniqueness of the company name, drawing up the charter documents, depositing the authorized capital in the bank account and submitting the documents to the Register of Enterprises of Latvia. To speed up the process and avoid possible mistakes, you can use the support of our specialists, who will ensure the correct execution of all documents and the successful completion of all stages of registration.
The procedure of company registration in Latvia includes submitting the founding documents to the Register of Enterprises, confirming the status of founders, providing a legal address and opening a bank account to deposit the authorized capital. To make the registration process as convenient as possible, our experts can accompany you at every stage and ensure that all the necessary requirements are met correctly.
The cost of opening a company in Latvia depends on the chosen type of company, registration fees and possible specialist services. On average, you will need authorized capital from 2800 euros for SIA, registration fees and, possibly, assistance of consultants. You can always clarify the exact cost and get clarification on the necessary expenses by contacting our specialists who will help you to optimize your costs.
To open a company in Latvia you will need a unique name, authorized capital, legal address, founding documents, information about the founders and directors, as well as a bank account to deposit the capital. Our team is ready to help you prepare all documents, make the process clear and uncomplicated, which will save you time and effort.
To open a SIA type company (analog of LLC) in Latvia, the minimum authorized capital is 1 euro. Registration fees will also be required, which depend on the type of company and the timeframe for registration. If you need assistance in accurate cost estimation and preparation of all documents, our experts will help you to orientate in the costs and prepare everything necessary for successful business start-up.

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+380 73 427-66-30

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