Company registration in Latvia

Registration fee is from 2000 €

Registration period — 2 weeks

Minimum authorized capital - from EUR 2,800

Remote opening — Yes

Financial statements — Yes

Latvia is a Northern European country, a member of the European Union, NATO, and the Schengen Area. Its capital is Riga.

Maira Consult helps non-residents register a company in Latvia to run international business, trade, and provide services within the EU. The most common form is SIA (Sabiedrība ar ierobežotu atbildību), the equivalent of a limited liability company.

  • For a standard SIA, the minimum share capital is 2,800 EUR. There is also a reduced-capital SIA starting from 1 EUR, but it comes with special legislative restrictions (only individuals, up to 5 founders, can establish it).

  • There is no requirement to employ Latvian citizens. The company must have a legal address in Latvia.

  • In 2026, the minimum wage is 780 EUR. Under certain conditions, if a company operates without an employee or board member receiving appropriate remuneration, a special taxation rule for board member income may apply. One of the criteria is a monthly turnover of at least 3,900 EUR (five times the minimum wage).

  • A Latvian company can apply to open a corporate account with a bank or another financial institution (an EMI / neobank). The decision depends on the results of the KYC/AML check.

  • If a full set of documents is prepared, company registration in Latvia can be completed within 1-3 business days after the documents are submitted to the Enterprise Register.

Maira Consult specialists will help you register a company in Latvia, prepare the documents, and provide advice on all corporate, tax, and banking matters.

Latvia advantages

1

CIT is not paid until profit distribution

2

Low maintenance cost

3

Geographic location

4

Registration speed

5

Possibility of opening an account in Latvia

General Information

Registration Features

In Latvia, there are several legal forms of business organization:

  • Individual Merchant (IK);
  • Limited Liability Company (SIA);
  • Joint Stock Company (AS).

The most common and flexible form for foreign business is SIA (equivalent to an LLC).

Company Name

To open an SIA in Latvia, your company name must end with a word, phrase, or abbreviation indicating limited liability, namely "SIA." Correct SIA registration in Latvia requires compliance with this company name requirement.

Authorized Capital

There are two share capital options for registering an SIA in Latvia:

  • Small-capital SIA (Mazkapitāla SIA): from EUR 1 to EUR 2,799 (an ideal option for a fast and low-cost start).
  • Standard SIA: from EUR 2,800 (at least 50% paid at registration, the remainder within a year).

Director

At least one individual is required. There are no residency requirements for the director, who may be a non-resident (including a citizen of Ukraine).

Shareholders

At least one person is required, with no residency requirements.

  • Founders of a small-capital SIA (from EUR 1) can only be individuals (a maximum of 5 people).
  • If the founder is a legal entity, a standard SIA with capital of at least EUR 2,800 must be registered.

Financial Reporting

A Latvian company is required to submit annual financial statements to the State Revenue Service of Latvia. For micro and small companies, the filing deadline is generally up to 5 months after the end of the reporting year; for medium and large companies, up to 7 months.

Taxation

  • Corporate tax on undistributed profit is not paid until the profit is distributed.
  • When profit is distributed, the standard CIT rate is 20% of the tax base, which is calculated using a coefficient of 0.8.
  • From 2026, companies whose shareholders are exclusively individuals may also opt for an alternative regime: 15% CIT on distributed profit and 6% PIT on the individual's dividends.
  • VAT is 21%.
  • Registration as a VAT payer is generally linked to reaching the statutory turnover threshold of EUR 50,000 in the previous or current calendar year. Certain transactions may trigger a registration obligation regardless of whether this threshold has been reached.

Confidentiality

The Latvian Enterprise Register is open to the public and contains information on a company's registration date, board members, the amount of share capital, and its status. Information on the ultimate beneficial owner (UBO) must be submitted to the Enterprise Register. The UBO is determined based on direct or indirect ownership and actual control over the company.

Stages of company registration

01

Choosing the name and form of the company

To register a company in Latvia, you need to provide several company name options. The name must be original, unique in Latvian, and must not contravene Latvian legislation.

02

Preparation and collection of documents

At this stage, you provide scanned copies of the passport of the company's founder and director, along with proof of residence. If there are several founders, the division of capital shares between them must be specified. We prepare the first set of documents for signing.

03

Identification of company participants

Company registration in Latvia can be done remotely or by traveling to Latvia in person. If the company's founder has an electronic signature, or in the case of a personal visit, company registration in Latvia can be completed within 1 week.

04

Formation of the share capital (if necessary)

The share capital must be paid in during the registration of a company in Latvia. The funds are deposited into a special temporary account of the Latvian company.

05

Company registration

After the share capital has been paid in, we submit the documents for company registration in Latvia to the Register of Enterprises.

06

Receiving of corporate documents

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

07

Legalization of documents (if necessary)

If necessary, after the company is registered in Latvia, the company's documents can be submitted for legalization and apostille. This also applies to the process of registering a SIA in Latvia if international-level confirmation is required.

08

Delivery of corporate documents

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

Answers to the Most Common Questions:

To open a company in Latvia, you need to go through a registration procedure that includes choosing and verifying the uniqueness of the company name, preparing the founding documents, depositing the share capital into a bank account, and submitting the documents to the Latvian Register of Enterprises. To speed up the process and avoid possible mistakes, you can rely on the support of our specialists, who will ensure that all documents are prepared correctly and that every stage of registration is completed successfully.
The procedure for registering a company in Latvia includes submitting the founding documents to the Register of Enterprises, confirming the status of the founders, providing a legal address, and opening a bank account to deposit the share capital. To make the registration process as convenient as possible, our experts can guide you through every stage and ensure that all necessary requirements are properly fulfilled.
Yes. The founders of an SIA can be non-residents, including both individuals and legal entities. To register, you need to prepare the documents required by law and determine the ownership structure, the director, and the company's legal address in Latvia.
To open a company in Latvia, you need a unique name, share capital, a legal address, founding documents, information about the founders and directors, and a bank account for depositing the capital. Our team is ready to help you prepare all the documents, making the process clear and free of unnecessary complications, which will save you time and effort.
The cost depends on the chosen structure, the number of founders, the need for a legal address, a corporate account, and other related services. Maira Consult supports the registration of a Latvian SIA and can put together an individual offer tailored to the client's needs.

Our Contacts

Phone

+380 97 527-66-30

Client Relations Department

+380 73 427-66-30

Email

[email protected]

Address

Kyiv, 01054, Ukraine,

40B Ivan Franko St., office 207

Legal information

MAIRA LLC

EDRPOU code: 38202700

Jurisdiction: Ukraine

Working hours

Monday – Friday: 09:00 – 18:00

Saturday – Sunday: closed

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