Company registration in Latvia | ||||||
|---|---|---|---|---|---|---|
| Name of service | Package Economy | Package Standard | Package Full | Package Plus | Package Exclusive | |
| Company registration, including the payment of state fees | + | + | + | + | + | |
| Notary Services | – | + | + | + | + | |
| State fees in register | – | + | + | + | + | |
| Legal address for 1 year | – | + | + | + | + | |
| Remote opening, including the transfer of power of attorney | – | – | + | + | + | |
| Account in Norvik Bank | – | – | – | + | + | |
| Accounting service for 1 year | – | – | – | – | + | |
| VAT number | on request | on request | on request | on request | on request | |
| Total cost | 650 EUR | 1515 EUR | 1965 EUR | 2265 EUR | 2915 EUR | |
| Annual service fee | – | 650 EUR | 650 EUR | 650 EUR | 1300 EUR | |
Order | Order | Order | Order | Order | ||
May1, 2004 Latvia has joined the European Union. Since March 29th 2004 Latvia is NATO member.
On December 21, 2007 Latvia part of the Schengen zone.
General information
Area – 64 589 sq. km
Population – 2 005 000
Capital – Riga
Official language – Latvian
Official currency – Euro (EUR)
Legal system – parliamentary republic
Legal form of company
Most common legal form in Latvia is Company with limited liability
Limited Liability;
Joint Stock Company.
Key specials
Latvia has agreements for the prevention of double taxation with following countries:
Australia, Austria , Belgium, Britain , Germany, Greece , Israel , Zambia Denmark , Iceland, Ireland, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand , Norway, Pakistan , Poland, Portugal, Russia ,USA, Finland, France, Czech Republic , Switzerland , Sweden , Estonia , South Africa , South Korea , Japan,Mexico , Netherlands, New Zealand, Norway, Pakistan, Poland, Portugal, Russia, USA, Finland, France, Czech Republic, Estonia, South Africa, South Korea, Japan.
Corporate legislation
– Latvian Commercial Law
Share capital
Limited Liability Company – 2 800 EUR
Joint Stock Company – 35 000 EUR
Opening of bank accounts
For Latvian Company we offer bank accounts in following countries:
Latvia
Estonia
Lithuania
Switzerland
Cyprus
Denmark
St. Vincent and the Grenadines
Belize
Seychelles
Tanzania
Bosnia
Hong Kong
Dubai
Full list of bank accounts with tariffs you can find here
The main requirements for directors and shareholders for company (sia)
Legal status – a legal entity
Founders,Shareholders – minimum one
Status of – private or corporate persone
Residence – can be resident from any country
The Government
Directors – minimum one
Status of – private persone
Residence – can be resident of any country
Secretary – one (private persone)
* Information about shareholders stored in the registry.
The main requirements for directors and shareholders for company (as)
Legal status – a legal entity
Founders, Shareholders – minimum three
Status of – private or corporate person
Residence – can be resident from any country
The Government – Meeting of shareholders’
Directors – minimum one
Status of – private persone
Residence – can be resident of any country
Secretary – one (private persone)
* Information about directors and shareholders stored in the registry.
Taxation
Value added tax – 21% (transactions in Latvia); 0% – (export transactions with the EU)
Corporate tax – 10%
The tax on dividends is: received – 0% (excluding dividends from offshore ); paid – 0% (if the recipient private person – 10% if offshore – 15 %); interest paid – 0% (excluding interest in offshore);
Paid royalties – 0% (excluding royalties in offshore);
Capital gains from the sale of shares – 0% (other than shares of offshore companies).
Accountancy
Accounting records must be kept at the private address of the company:
Annual audit;
VAT declaration 1 once a month;
Tariffs for accounting services you can find here
Opening information on beneficiaries of government authorities
Not disclosed
Free Enterprise Register of the application form the company.
Timeframes
New Company registration takes from 1 day.
Shelf companies are available.
For more information, please contact us.