Business in Latvia (Riga)
Population: 2 632 000
Currency: Lat (LVL)
President:Mrs. Vaira Vike-Freiberga
Company registration in Latvia:
Main company registraiton legal acts:
Company registration in Latvia is regulated by Commercial Law of Latvia (April, 13 2000), the Law “On protection of foreign investments” and other legal acts of Latvia.
Main forms of business presence:
Limited liability company(SIA); Joint stock company (AS) – legal entities; Personal (Contract) company ( not legal entity).
Minimum capital charter for company registration:
LLC — 2000 LVL (3700 US Dollars), JSC: 25 000 LVL (46 300 US Dollars). Initially it is necessary to pay not less than 50% of Charter capital. The rest 50% must be submitted within 1-year period. Charter capital can be paid by funds or property. The Participants (Shareholders) may appraise the property by themselves, if the value of such property does not exceed 4000 LVL and pay not less than 50% of charter capital.
for registration within 4 working days – 100 Lat (185 US Dollars); 2 working days – 300 Lat (555 US Dollars)
Services for company registration:
- Preparation of constituent documents;
- Company registration in tax authorities;
- Ordering and receipt of the seal;
- Registration of company’s data in social funds;
- Notarial authentication of the bank cards;
- Opening of accumulative/current bank accounts.
Preliminary information for company registration*:
- Company’s name;
- Legal address of the company in Latvia (we may provide you with it upon request) and contact telephone;
- Information about Participants (Shareholders) and Managing director (passport data, visas etc.), size of charter capital, Audito, Members of the board;
- Types of activity;
- Choice of bank, where accumulative/current accounts will be opened
*All documents is necessary to present in advance in order to translate them into Latvian language. Our company retains the right to ask for additional documents. All documents have to be notarized by appropriate local authorities and legalised by the Latvian Embassy in the country of Participants (Shareholders) or in accordance with Hague Convention (1961) must bear Apostille, issued by the approporiate state agency after the notarisation on each document.
In the name its possible to use only the letters of latin or latvinian alphabet. The name has to be unique and has to include the legal form: SIA (sabiedriba ar ierobeћotu atbildibu), AS (akciju sabiedriba), PS (pilnsabiedriba), KS(komanditsabiedriba). There are some limitations for using name “Latvia”.
Presence of participants during company registration:
Participants may sign and make the notarial authentication of Power of Attorney and also it is necessary to make the notarial copies of passports of participants.
General term of company registration:
5 days from time of payment of Charter capital and signing and submission of all necessary documents