Latvia is one of the young and rapidly developing member states of the European Union. It has active trade relations with Germany, Sweden and Great Britain.
Since 2014, the country has switched to the euro as the main state currency, which marked a significant strengthening of the economy and further expansion of international relations.
Depending on your goals and objectives, you need to choose the most suitable type of the company. Our lawyers will help you with the choice, explain all the details and guide you on the timing.
Advantages of registering a company in the Republic of Latvia
Since the legislation of this jurisdiction provides companies registered here with many benefits and advantages, many business owners consider Latvia as an attractive place to register a company.
Here are some important advantages of Latvia:
15% rate, one of the lowest in the European Union.
The owner gets the opportunity to constantly receive a multiple-entry visa and move freely within the EU.
Lots of concessions. For example, if the owner of the company receives any dividends abroad, such income is not taxed.
If you fulfill a number of conditions, you can apply for a residence permit. If you want to know in more detail what documents are required, please contact our specialists.
This certificate gives the right to pay tax contributions at the rates of citizens of Latvia.
This factor provides many benefits for companies.
Here are just some of the advantages of Lithuania as a business jurisdiction. If you would like more information, please contact our lawyers for a free consultation.
Is it possible to register an offshore company in Latvia?
Since the state does not belong to an offshore zone, it is actually impossible to register an offshore. A big plus in this situation is that the company can conduct active international activities. Such companies are not blacklisted.
Types of forms of ownership in the Republic of Latvia
Latvian legislation regulates several types of companies, the most common are:
- Limited liability company
- Joint-stock company
- General partnership
- Limited partnership
- Individual merchant
- Branch of a foreign company
Registration of a Limited liability company (SIA) in Latvia
Sabiedrība ar ierobežotu atbildību — SIA
SIA is the most common in Latvia, and this is not surprising. Several important points can be highlighted:
- Features of the company name:
The name of the company should use the letters of the Latin and local alphabets. The name shall contain a link to the type of the company. The word “Latvia” cannot be used. - Authorized capital:
Capital consists of the shares. Each participant is liable in accordance with the size of the share. - Submission of documents remotely:
A big plus of registering a company in Latvia is that we can do all the work for you, and your presence is not necessarily. Thus, you can issue a power of attorney to our lawyer and not enter the jurisdiction zone. - Composition of directors:
The presence of a resident director is not a prerequisite. - Availability of a legal address:
The legal address shall be confirmed and be within the borders of Latvia.
You can check the rest of the subtleties with our lawyers at a free consultation.
Registration of a Joint stock company (AS) in Latvia
Akcijas Sabiedrība — AS
Another form of ownership common in Latvia is a joint-stock company. It also has its own features:
- Registration by both residents and foreign citizens
- Registration is possible for both a legal entity and an individual
- Management is carried out by the board of shareholders / meeting of directors
- Issue of shares
- The authorized capital is divided into shares
- Minimum capital level 35,000 euros
We offer you professional advice and legal support for opening companies in Latvia.
