{"id":16996,"date":"2025-05-13T04:59:24","date_gmt":"2025-05-13T04:59:24","guid":{"rendered":"https:\/\/breicis.com\/?page_id=16996"},"modified":"2025-08-29T15:09:40","modified_gmt":"2025-08-29T15:09:40","slug":"company-formation-latvia","status":"publish","type":"page","link":"https:\/\/breicis.com\/en\/company-formation-latvia\/","title":{"rendered":"Company Formation Latvia"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background fusion-parallax-none nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-background-position:right top;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:80px;--awb-padding-bottom:120px;--awb-margin-bottom:0px;--awb-background-color:#192e37;--awb-background-image:linear-gradient(230deg, rgba(25,47,56,0.4) 0%,#192e37 85%),url(https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-hero-3.jpg);;--awb-background-size:cover;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_2_3 2_3 fusion-flex-column\" style=\"--awb-padding-left:60px;--awb-padding-left-medium:80px;--awb-bg-size:cover;--awb-border-color:#93c12c;--awb-border-left:5px;--awb-border-style:solid;--awb-width-large:66.666666666667%;--awb-margin-top-large:0px;--awb-spacing-right-large:2.88%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:2.88%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-1 fusion-title-text fusion-title-size-one\" style=\"--awb-text-color:#ffffff;--awb-margin-bottom:20px;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:42px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h1 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Kumbh Sans&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">Latvian company formation<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-1\" style=\"--awb-font-size:20px;--awb-line-height:1.4;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography2-text-transform);--awb-text-color:#ffffff;--awb-text-font-family:&quot;Kumbh Sans&quot;;--awb-text-font-style:normal;--awb-text-font-weight:300;\"><p>BREICIS is a company that specializes in tax services: tax structuring projects, tax issues, business evaluation, including assessment of non-tangible properties, drawing up transfer price documents.<\/p>\n<\/div><div ><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-1 fusion-button-default-span fusion-button-default-type fusion-animated fusion-has-button-gradient\" style=\"--awb-margin-top:10px;--awb-margin-bottom:10px;--awb-padding-top:15px;--awb-padding-right:30px;--awb-padding-bottom:15px;--awb-padding-left:30px;--button_accent_color:#ffffff;--button_border_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#ffffff;--button-border-radius-top-left:0px;--button-border-radius-top-right:0px;--button-border-radius-bottom-right:0px;--button-border-radius-bottom-left:0px;--button_gradient_angle:135deg;--button_gradient_start:5%;--button_gradient_end:5%;--button_gradient_top_color:#93c12c;--button_gradient_bottom_color:#008dd2;--button_gradient_top_color_hover:#d8b458;--button_gradient_bottom_color_hover:#d8b458;--button_text_transform:capitalize;--button_font_size:18px;--button_line_height:1.0;--button_typography-letter-spacing:0px;--button_typography-font-family:&quot;Kumbh Sans&quot;;--button_typography-font-style:normal;--button_typography-font-weight:700;\" data-animationType=\"revealInLeft\" data-animationDuration=\"0.3\" data-animationOffset=\"top-into-view\" target=\"_self\" data-hover=\"bg_slide_right\" href=\"tel:+37129274911\"><i class=\"fa-phone-square-alt fas awb-button__icon awb-button__icon--default button-icon-left\" aria-hidden=\"true\"><\/i><span class=\"fusion-button-text awb-button__text awb-button__text--default\">+371 29 274 911<\/span><\/a><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container has-pattern-background has-mask-background hundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-right:0px;--awb-padding-left:0px;--awb-background-color:#ffffff;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"width:calc( 100% + 0px ) !important;max-width:calc( 100% + 0px ) !important;margin-left: calc(-0px \/ 2 );margin-right: calc(-0px \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_2 1_2 fusion-flex-column fusion-no-small-visibility fusion-no-medium-visibility\" style=\"--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:50%;--awb-order-medium:0;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_4 1_4 fusion-flex-column\" style=\"--awb-padding-top:30px;--awb-padding-bottom:30px;--awb-padding-bottom-small:0px;--awb-padding-left-small:0px;--awb-bg-color:#ffffff;--awb-bg-color-hover:#ffffff;--awb-bg-size:cover;--awb-width-large:25%;--awb-margin-top-large:-50px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:50%;--awb-order-medium:0;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:50%;--awb-order-small:0;--awb-margin-top-small:0px;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-center fusion-content-layout-row fusion-flex-align-items-center\"><div class=\"fusion-text fusion-text-2 fusion-text-no-margin\" style=\"--awb-font-size:72px;--awb-line-height:1.4;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography2-text-transform);--awb-text-color:#008dd2;--awb-margin-bottom:0px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:300;\"><p>200<\/p>\n<\/div><div class=\"fusion-text fusion-text-3 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.6;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:0px;--awb-margin-left:20px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>Happy Customers<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_4 1_4 fusion-flex-column\" style=\"--awb-padding-top:30px;--awb-padding-bottom:30px;--awb-padding-left-medium:0px;--awb-padding-bottom-small:0px;--awb-padding-left-small:0px;--awb-bg-color:#ffffff;--awb-bg-color-hover:#ffffff;--awb-bg-size:cover;--awb-border-color:#efefef;--awb-border-left:1px;--awb-border-style:solid;--awb-width-large:25%;--awb-margin-top-large:-50px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:50%;--awb-order-medium:0;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:50%;--awb-order-small:0;--awb-margin-top-small:0px;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-center fusion-content-layout-row fusion-flex-align-items-center\"><div class=\"fusion-text fusion-text-4 fusion-text-no-margin\" style=\"--awb-font-size:72px;--awb-line-height:1.4;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography2-text-transform);--awb-text-color:#2a9d8f;--awb-margin-bottom:0px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:300;\"><p>10<\/p>\n<\/div><div class=\"fusion-text fusion-text-5 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.6;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:0px;--awb-margin-left:20px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>Years of Experiences<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:100px;--awb-padding-right:0px;--awb-padding-bottom:100px;--awb-padding-left:0px;--awb-padding-right-medium:60px;--awb-padding-left-medium:60px;--awb-margin-bottom-small:40px;--awb-background-color:#ffffff;--awb-background-image:linear-gradient(90deg, rgba(42,157,144,0.1) 40%,#ffffff 0%);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_1_2 1_2 fusion-flex-column fusion-flex-align-self-stretch fusion-no-large-visibility\" style=\"--awb-bg-position:center center;--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-image-element\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-none\"><img decoding=\"async\" width=\"960\" height=\"550\" title=\"business-about-2\" src=\"https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2.jpg\" alt class=\"img-responsive wp-image-17002\" srcset=\"https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2-200x115.jpg 200w, https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2-400x229.jpg 400w, https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2-600x344.jpg 600w, https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2-800x458.jpg 800w, https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2.jpg 960w\" sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 600px\" \/><\/span><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion_builder_column_1_2 1_2 fusion-flex-column fusion-flex-align-self-stretch fusion-no-small-visibility fusion-no-medium-visibility\" style=\"--awb-bg-image:url(&#039;https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2.jpg&#039;);--awb-bg-position:center center;--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column fusion-empty-column-bg-image fusion-column-has-bg-image\" data-bg-url=\"https:\/\/breicis.com\/wp-content\/uploads\/2025\/05\/business-about-2.jpg\"><img decoding=\"async\" class=\"fusion-empty-dims-img-placeholder\" aria-label=\"business-about-2\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27960%27%20height%3D%27550%27%20viewBox%3D%270%200%20960%20550%27%3E%3Crect%20width%3D%27960%27%20height%3D%27550%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\"><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_2 1_2 fusion-flex-column\" style=\"--awb-padding-top:40px;--awb-padding-bottom:40px;--awb-padding-left:40px;--awb-padding-top-medium:60px;--awb-padding-bottom-medium:0px;--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-2 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:32px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Kumbh Sans&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">Advantages of a Latvia company<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-6 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.8;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:30px;--awb-text-font-family:&quot;Kumbh Sans&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>A Latvia company is an excellent tool to conduct your international business in a tax-efficient manner. This article describes the advantages of using a company in Latvia and the recommended business activities. Furthermore, the article outlines the registration procedure and other useful information. We trust that the article will help you to determine whether a Latvia company may bring value to your business and assist you in the Latvian company formation.<\/p>\n<\/div><div ><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-2 fusion-button-default-span fusion-button-default-type fusion-animated fusion-has-button-gradient\" style=\"--awb-margin-top:15px;--awb-padding-top:15px;--awb-padding-right:30px;--awb-padding-bottom:15px;--awb-padding-left:30px;--button_accent_color:#ffffff;--button_border_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#ffffff;--button-border-radius-top-left:0px;--button-border-radius-top-right:0px;--button-border-radius-bottom-right:0px;--button-border-radius-bottom-left:0px;--button_gradient_angle:135deg;--button_gradient_start:5%;--button_gradient_end:5%;--button_gradient_top_color:#93c12c;--button_gradient_bottom_color:#008dd2;--button_gradient_top_color_hover:#d8b458;--button_gradient_bottom_color_hover:#d8b458;--button_text_transform:capitalize;--button_font_size:18px;--button_line_height:1.0;--button_typography-letter-spacing:0px;--button_typography-font-family:&quot;Kumbh Sans&quot;;--button_typography-font-style:normal;--button_typography-font-weight:700;\" data-animationType=\"revealInLeft\" data-animationDuration=\"0.3\" data-animationOffset=\"top-into-view\" target=\"_self\" data-hover=\"bg_slide_right\" href=\"tel:+37129274911\"><i class=\"fa-phone-square-alt fas awb-button__icon awb-button__icon--default button-icon-left\" aria-hidden=\"true\"><\/i><span class=\"fusion-button-text awb-button__text awb-button__text--default\">+371 29 274 911<\/span><\/a><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-4 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-tabs fusion-tabs-1 clean nav-is-justified awb-tabs-transition awb-tabs-transition-fade horizontal-tabs icon-position-left mobile-mode-carousel mobile-sticky-tabs\" style=\"--awb-margin-top:80px;--awb-margin-bottom:80px;--awb-title-border-radius-top-left:0px;--awb-title-border-radius-top-right:0px;--awb-title-border-radius-bottom-right:0px;--awb-title-border-radius-bottom-left:0px;--awb-content-padding-top:50px;--awb-content-padding-right:50px;--awb-content-padding-bottom:50px;--awb-content-padding-left:50px;--awb-title-padding-top:25px;--awb-title-padding-right:20px;--awb-title-padding-bottom:25px;--awb-title-padding-left:20px;--awb-title-font-size:24px;--awb-title-text-transform:capitalize;--awb-title-line-height:1.7;--awb-alignment:start;--awb-inactive-color:#ffffff;--awb-title-text-color:#222222;--awb-title-active-text-color:#129e76;--awb-background-color:#eff4f2;--awb-border-color:rgba(255,255,255,0);--awb-active-border-color:#129e76;--awb-active-border-size:3px;--awb-transition-speed:300ms;--awb-title-font-family:&quot;Kumbh Sans&quot;;--awb-title-font-style:normal;--awb-title-font-weight:700;\"><div class=\"nav\"><ul class=\"nav-tabs nav-justified\" role=\"tablist\" aria-orientation=\"horizontal\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-af9b388b8ad44080785\" aria-selected=\"true\" tabindex=\"0\" id=\"fusion-tab-af9b388b8ad44080785\" href=\"#tab-af9b388b8ad44080785\"><h2 class=\"fusion-tab-heading\">Company location<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-f059cd97995b36927cd\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-f059cd97995b36927cd\" href=\"#tab-f059cd97995b36927cd\"><h2 class=\"fusion-tab-heading\">Business benefits<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-4dd59e2b089fd42028d\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-4dd59e2b089fd42028d\" href=\"#tab-4dd59e2b089fd42028d\"><h2 class=\"fusion-tab-heading\">Simplicity and cost-efficiency<\/h2><\/a><\/li><\/ul><\/div><div class=\"tab-content\"><div class=\"tab-pane fade fusion-clearfix in active\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-af9b388b8ad44080785\" id=\"tab-af9b388b8ad44080785\"><div class=\"awb-tab-pane-inner\"><strong>Excellent location.<\/strong>\u00a0The opening of a Latvia company creates an opportunity to trade with both European companies and companies in the Eastern markets. Latvia as a European Union member country provides Latvian companies access to the European Union markets. Latvia\u2019s competitive advantages: convenient geographical position and knowledge of the Russian language and market, provide opportunities to penetrate the Eastern market, as well.<\/p>\n<p><strong>Developed infrastructure<\/strong>. Latvia offers a number of business development centres that include five Free Ports and Special Economic Zones, over 10 business parks located in major cities, regional business incubators etc. The country has good transportation opportunities by sea, road or air and one of the fastest internet in the world, providing excellent connection with abroad.<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-f059cd97995b36927cd\" id=\"tab-f059cd97995b36927cd\"><div class=\"awb-tab-pane-inner\">\n<p><strong>Tax incentives.<\/strong>\u00a0Latvia has introduced significant tax incentives making Latvia competitive with the other European countries. The new corporate income tax is payable upon the distribution of profits only. Thus retained earnings are not taxed, until kept within the company. The tax rate is 20% of the gross dividends instead of the previous 15 % Latvian corporate income tax. Latvian tax residents pay no tax on the incoming dividends from foreign countries.<\/p>\n<p><strong>Immigration<\/strong>. The operation of a Latvian company allows one to obtain a residence permit in Latvia. This creates an opportunity to do business not only in Latvia but in the whole European Union.<\/p>\n<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-4dd59e2b089fd42028d\" id=\"tab-4dd59e2b089fd42028d\"><div class=\"awb-tab-pane-inner\">\n<p><strong>Easy to do business<\/strong>. The company formation process in Latvia is straightforward. The Latvian laws are friendly and provide equal treatment of foreign and local investments. Latvia has a supportive business environment, providing access to a reliable and skilled workforce. Furthermore, Latvia has developed infrastructure in line with international standards and lower business expenses compared with many of the European countries.\u00a0<a href=\"https:\/\/data.worldbank.org\/indicator\/IC.BUS.EASE.XQ\">World Bank\u2019s Doing Business Survey 2020<\/a>\u00a0has ranked Latvia as the world\u2019s 21st easiest place to do business.<\/p>\n<p><strong>Simple management.\u00a0<\/strong>A Latvia company could be established with 100% foreign shareholding. Its management board has to have at least one board member who can be a non-resident in Latvia, as well.<\/p>\n<p><strong>Cost savings<\/strong>. The Latvian company formation sometimes provides an opportunity to minimize business administrative costs and streamline business processes. The combination of a favorable tax regime with the holding company structures provides tax-saving opportunities and tax-efficient profit repatriation.<\/p>\n<\/div><\/div><\/div><\/div><div class=\"fusion-tabs fusion-tabs-2 clean awb-tabs-transition awb-tabs-transition-fade vertical-tabs icon-position-left mobile-mode-accordion\" style=\"--awb-title-border-radius-top-left:0px;--awb-title-border-radius-top-right:0px;--awb-title-border-radius-bottom-right:0px;--awb-title-border-radius-bottom-left:0px;--awb-alignment:start;--awb-inactive-color:#3f3f3f;--awb-background-color:#1e73be;--awb-border-color:#ebeaea;--awb-active-border-color:#1a80b6;--awb-active-border-size:3px;--awb-transition-speed:300ms;\"><div class=\"nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-07bd20ba39cbc6af762\" aria-selected=\"true\" tabindex=\"0\" id=\"fusion-tab-07bd20ba39cbc6af762\" href=\"#tab-07bd20ba39cbc6af762\"><h4 class=\"fusion-tab-heading\">Overview<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-ab551ef0b0fb74015ac\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-ab551ef0b0fb74015ac\" href=\"#tab-ab551ef0b0fb74015ac\"><h4 class=\"fusion-tab-heading\">1. Select company' s name<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-5780450365d2f095f80\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-5780450365d2f095f80\" href=\"#tab-5780450365d2f095f80\"><h4 class=\"fusion-tab-heading\">2. Legal adress<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-c07fc974fc752adbb09\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-c07fc974fc752adbb09\" href=\"#tab-c07fc974fc752adbb09\"><h4 class=\"fusion-tab-heading\">3. Incorporation documents<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-a59a5393b586bb4a8cd\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-a59a5393b586bb4a8cd\" href=\"#tab-a59a5393b586bb4a8cd\"><h4 class=\"fusion-tab-heading\">4. Sign documents<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-117e6e4635e846cd3f6\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-117e6e4635e846cd3f6\" href=\"#tab-117e6e4635e846cd3f6\"><h4 class=\"fusion-tab-heading\">5. Temporary bank account<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-3c3dc227d20b0e4ff1f\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-3c3dc227d20b0e4ff1f\" href=\"#tab-3c3dc227d20b0e4ff1f\"><h4 class=\"fusion-tab-heading\">6. Share capital<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-91cc94d589387046ded\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-91cc94d589387046ded\" href=\"#tab-91cc94d589387046ded\"><h4 class=\"fusion-tab-heading\">7. Submit documents<\/h4><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-9a162703cfaf05038e4\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-9a162703cfaf05038e4\" href=\"#tab-9a162703cfaf05038e4\"><h4 class=\"fusion-tab-heading\">8. Permanent bank account<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-content\"><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-07bd20ba39cbc6af762\" aria-selected=\"true\" tabindex=\"0\" id=\"mobile-fusion-tab-07bd20ba39cbc6af762\" href=\"#tab-07bd20ba39cbc6af762\"><h4 class=\"fusion-tab-heading\">Overview<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix in active\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-07bd20ba39cbc6af762\" id=\"tab-07bd20ba39cbc6af762\"><div class=\"awb-tab-pane-inner\">\n<ol class=\"X5LH0c\">\n<li class=\"TrT0Xe\">Step: Select a company name<\/li>\n<li class=\"TrT0Xe\">Step: Find a legal address.<\/li>\n<li class=\"TrT0Xe\">Step: Prepare the necessary incorporation documents<\/li>\n<li class=\"TrT0Xe\">Step:\u00a0 Open a temporary bank account. &#8230;<\/li>\n<li class=\"TrT0Xe\">Step: Transfer share capital<\/li>\n<li>Step: File documents to the\u00a0 Enterprise Registry<\/li>\n<li class=\"TrT0Xe\">Step:\u00a0 Convert temporary bank account into a permanent one<\/li>\n<\/ol>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-ab551ef0b0fb74015ac\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-ab551ef0b0fb74015ac\" href=\"#tab-ab551ef0b0fb74015ac\"><h4 class=\"fusion-tab-heading\">1. Select company' s name<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-ab551ef0b0fb74015ac\" id=\"tab-ab551ef0b0fb74015ac\"><div class=\"awb-tab-pane-inner\">\n<div id=\"page\" class=\"hfeed site\">\n<header id=\"masthead\" class=\"site-header header-main-layout-1 ast-primary-menu-enabled ast-logo-title-inline ast-hide-custom-menu-mobile ast-builder-menu-toggle-icon ast-mobile-header-inline\">\n<div id=\"ast-desktop-header\" data-toggle-type=\"off-canvas\">\n<div class=\"ast-below-header-wrap \">\n<div class=\"ast-below-header-bar ast-below-header site-header-focus-item\" data-section=\"section-below-header-builder\">\n<div class=\"site-below-header-wrap ast-builder-grid-row-container site-header-focus-item ast-container\" data-section=\"section-below-header-builder\">\n<div class=\"ast-builder-grid-row ast-grid-center-col-layout-only ast-flex ast-grid-center-col-layout\">\n<div class=\"site-header-below-section-center site-header-section ast-flex ast-grid-section-center\">\n<div class=\"ast-builder-menu-1 ast-builder-menu ast-flex ast-builder-menu-1-focus-item ast-builder-layout-element site-header-focus-item\" data-section=\"section-hb-menu-1\">\n<div class=\"ast-main-header-bar-alignment\">\n<div class=\"main-header-bar-navigation\">\n<nav id=\"primary-site-navigation-desktop\" class=\"site-navigation ast-flex-grow-1 navigation-accessibility site-header-focus-item\" aria-label=\"Site Navigation: Primary\">\n<div class=\"main-navigation ast-inline-flex\">\n<h2>Company name<\/h2>\n<p>The \u201cname\u201d or \u201cfirm\u201d refers to the merchant\u2019s <a href=\"https:\/\/taxwise.lv\/registration-of-a-company-in-the-commercial-register-of-latvia\/\">registered\u00a0<\/a>name in the Commercial Register, which is used in business operations, transactions, and official documentation.<\/p>\n<\/div>\n<\/nav>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<div id=\"content\" class=\"site-content\">\n<div class=\"ast-container\">\n<div id=\"primary\" class=\"content-area primary\">\n<article id=\"post-2063\" class=\"post-2063 post type-post status-publish format-standard hentry category-corporate ast-article-single\">\n<div class=\"ast-post-format- ast-no-thumb single-layout-1\">\n<div class=\"entry-content clear\" data-ast-blocks-layout=\"true\">\n<p><strong>Requirements for choosing a name:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>It must include a reference to the type of merchant\u2014<em>limited liability company<\/em>\u2014or the abbreviation\u00a0<em>SIA<\/em>, placed either at the beginning or end of the name.<\/li>\n<li>The name must use Latvian or Latin alphabet characters.<\/li>\n<li>Numbers may be included.<\/li>\n<li>Common punctuation marks (e.g., periods, commas, colons, quotation marks) are allowed.<\/li>\n<li>The following symbols are\u00a0<strong>not allowed<\/strong>: &amp;, @, %, +, =, or any other special characters.<\/li>\n<li>The name must not contain references to state or municipal institutions, nor use the words\u00a0<em>\u201cState\u201d<\/em>\u00a0or\u00a0<em>\u201clocal government\u201d<\/em>.<\/li>\n<li>The phrases\u00a0<em>\u201cRepublic of Latvia\u201d<\/em>\u00a0or any foreign language equivalents are prohibited.<\/li>\n<li>The name must not misrepresent the business form (e.g., using\u00a0<em>AS<\/em>, etc. if not applicable).<\/li>\n<li>It must not include inappropriate or ambiguous language, or anything that violates public decency.<\/li>\n<li>If the name includes a geographic location (like a municipality or town), it must not exactly match that location\u2019s name. Add distinguishing words, letters, or numbers.<\/li>\n<li>The name cannot match any existing registered trademark or part of one. Check with the Patent Office for registered trademarks.<\/li>\n<li>It must not duplicate the name of any business already registered or pending registration in the Enterprise Register. Differences in punctuation, spacing, or capitalization are not enough to distinguish names.<\/li>\n<\/ul>\n<p><strong>Important:<\/strong>\u00a0Review the name carefully before submission. All submitted documents must display the name\u00a0<strong>exactly as registered<\/strong>.<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<footer id=\"colophon\" class=\"site-footer\">\n<div class=\"site-below-footer-wrap ast-builder-grid-row-container site-footer-focus-item ast-builder-grid-row-3-equal ast-builder-grid-row-tablet-3-equal ast-builder-grid-row-mobile-full ast-footer-row-inline ast-footer-row-tablet-stack ast-footer-row-mobile-stack\" data-section=\"section-below-footer-builder\">\n<div class=\"ast-builder-grid-row-container-inner\">\n<div class=\"ast-builder-footer-grid-columns site-below-footer-inner-wrap ast-builder-grid-row\">\n<div class=\"site-footer-below-section-3 site-footer-section site-footer-section-3\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/footer>\n<\/div>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-5780450365d2f095f80\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-5780450365d2f095f80\" href=\"#tab-5780450365d2f095f80\"><h4 class=\"fusion-tab-heading\">2. Legal adress<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-5780450365d2f095f80\" id=\"tab-5780450365d2f095f80\"><div class=\"awb-tab-pane-inner\">\n<h2>Legal address<\/h2>\n<p>For\u00a0<a href=\"https:\/\/taxwise.lv\/registration-of-a-company-in-the-commercial-register-of-latvia\/\">company formation in Latvia\u00a0<\/a>the legal address is required. The registered office of a company is the official address listed in the Commercial Register, used for all formal communication. It is the responsibility of the company\u2019s management board to ensure that all correspondence sent to this address is properly received.<\/p>\n<p><strong>Requirements for registering the official address:<\/strong><\/p>\n<ul class=\"wp-block-list\">\n<li>The registered office must match the address recorded in the State Address Register. This can be verified using the kadastrs.lv Information System.<\/li>\n<li>The address must refer to a specific building or unit (such as an apartment); it cannot be solely a land property.<\/li>\n<li>If the property includes multiple units, the exact unit number for the registered office must be specified.<\/li>\n<li>The application must confirm that the company is accessible at the address and has a legal right to operate there.<\/li>\n<li>If the building does not have assigned unit numbers, the application must include the cadastre designation of the building.<\/li>\n<li>If the office is located in a numbered room within the building, the cadastre designation of that specific room must be provided.<\/li>\n<li>If the building contains both numbered and unnumbered spaces, and the office is in an unnumbered non-residential area, the cadastre designation of that specific room must be stated.<\/li>\n<\/ul>\n<p>Details about the cadastre designation of a property (such as a building, apartment, or premises) can be found in the Cadastre Information System at\u00a0<a class=\"\" href=\"http:\/\/www.kadastrs.lv\/\">www.kadastrs.lv<\/a>.<\/p>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-c07fc974fc752adbb09\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-c07fc974fc752adbb09\" href=\"#tab-c07fc974fc752adbb09\"><h4 class=\"fusion-tab-heading\">3. Incorporation documents<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-c07fc974fc752adbb09\" id=\"tab-c07fc974fc752adbb09\"><div class=\"awb-tab-pane-inner\">\n<h2 data-start=\"230\" data-end=\"281\">Draft required company registration documents<\/h2>\n<p>The required docuents for the company in Latvia registration are as follows:<\/p>\n<h3><strong data-start=\"237\" data-end=\"281\">1. Registration Application Form (Form KR4)<\/strong><\/h3>\n<ul data-start=\"282\" data-end=\"575\">\n<li data-start=\"282\" data-end=\"394\">\n<p data-start=\"284\" data-end=\"394\">The foundational document to initiate the registration process with the Latvian Enterprise Register (Commercial).<\/p>\n<\/li>\n<li data-start=\"395\" data-end=\"575\">\n<p data-start=\"397\" data-end=\"575\">Must include signatures that are either <strong data-start=\"437\" data-end=\"450\">notarized<\/strong> or electronically signed using a <strong data-start=\"484\" data-end=\"536\">Qualified Electronic Signature (QES\/e-signature)<\/strong>.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"397\" data-end=\"575\">2. <strong data-start=\"584\" data-end=\"641\">Decision on Establishment \/ Memorandum of Association<\/strong><\/h3>\n<ul data-start=\"642\" data-end=\"843\">\n<li data-start=\"642\" data-end=\"729\">\n<p data-start=\"644\" data-end=\"729\">If there is a single founder, a simple \u201cdecision on establishment\u201d is sufficient.<\/p>\n<\/li>\n<li data-start=\"730\" data-end=\"843\">\n<p data-start=\"732\" data-end=\"843\">If multiple founders, a formal establishment agreement is needed.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"845\" data-end=\"900\">3. <strong data-start=\"852\" data-end=\"900\">Articles of Association (Statutes \/ Charter)<\/strong><\/h3>\n<ul data-start=\"901\" data-end=\"1027\">\n<li data-start=\"901\" data-end=\"953\">\n<p data-start=\"903\" data-end=\"953\">The charter outlining company rules and structure.<\/p>\n<\/li>\n<li data-start=\"954\" data-end=\"1027\">\n<p data-start=\"956\" data-end=\"1027\">Must be signed by the founder(s).<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"1029\" data-end=\"1070\">4. <strong data-start=\"1036\" data-end=\"1070\">Proof of Share Capital Payment<\/strong><\/h3>\n<ul data-start=\"1071\" data-end=\"1392\">\n<li data-start=\"1071\" data-end=\"1276\">\n<p data-start=\"1073\" data-end=\"1276\"><strong data-start=\"1073\" data-end=\"1099\">For cash contributions<\/strong>: a statement from a bank or financial institution confirming that the share capital has been paid into a temporary company bank account.<\/p>\n<\/li>\n<li data-start=\"1277\" data-end=\"1392\">\n<p data-start=\"1279\" data-end=\"1392\"><strong data-start=\"1279\" data-end=\"1308\">For in-kind contributions<\/strong>: a valuation report by a certified appraiser.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"1394\" data-end=\"1454\">5. <strong data-start=\"1401\" data-end=\"1454\">Shareholders\u2019 Register\u00a0<\/strong><\/h3>\n<ul data-start=\"1455\" data-end=\"1605\">\n<li data-start=\"1455\" data-end=\"1510\">\n<p data-start=\"1457\" data-end=\"1510\">A document listing all shareholders and their shares.<\/p>\n<\/li>\n<li data-start=\"1511\" data-end=\"1605\">\n<p data-start=\"1513\" data-end=\"1605\">Signatures must be notarized or electronically signed.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"1607\" data-end=\"1641\">6. <strong data-start=\"1614\" data-end=\"1641\">Consents to Hold Office<\/strong><\/h3>\n<ul data-start=\"1642\" data-end=\"1977\">\n<li data-start=\"1642\" data-end=\"1811\">\n<p data-start=\"1644\" data-end=\"1811\"><strong data-start=\"1644\" data-end=\"1664\">Management Board<\/strong>: Each board member must sign a consent to take on the role (unless it&#8217;s already included in the KR4 form).<\/p>\n<\/li>\n<li data-start=\"1812\" data-end=\"1977\">\n<p data-start=\"1814\" data-end=\"1977\"><strong data-start=\"1814\" data-end=\"1841\">Council (if applicable)<\/strong>: If the company establishes a supervisory council, each of its members must also provide consent.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"1979\" data-end=\"2018\">7. <strong data-start=\"1986\" data-end=\"2018\">Registered Address Statement<\/strong><\/h3>\n<ul data-start=\"2019\" data-end=\"2391\">\n<li data-start=\"2019\" data-end=\"2143\">\n<p data-start=\"2021\" data-end=\"2143\">A statement from the management board confirming the company\u2019s legal address and that the business can be contacted there.<\/p>\n<\/li>\n<li data-start=\"2144\" data-end=\"2236\">\n<p data-start=\"2146\" data-end=\"2236\">Should include the cadastral number of the premises.<\/p>\n<\/li>\n<li data-start=\"2237\" data-end=\"2391\">\n<p data-start=\"2239\" data-end=\"2391\">If the property is not owned by the company\/founders, a <strong data-start=\"2295\" data-end=\"2330\">consent from the property owner<\/strong> must also be included.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"2393\" data-end=\"2446\">8. <strong data-start=\"2400\" data-end=\"2446\">Proof of State Fee and Publication Payment<\/strong><\/h3>\n<ul data-start=\"2447\" data-end=\"2658\">\n<li data-start=\"2447\" data-end=\"2658\">\n<p data-start=\"2449\" data-end=\"2658\">Registration incurs a <strong data-start=\"2471\" data-end=\"2489\">state duty fee<\/strong>, and companies must also pay a <strong data-start=\"2521\" data-end=\"2540\">publication fee<\/strong> for announcing the registration in the official Gazette (Latvijas V\u0113stnesis).<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"2660\" data-end=\"2697\">9. <strong data-start=\"2667\" data-end=\"2697\">Optional: VAT Registration<\/strong><\/h3>\n<ul data-start=\"2698\" data-end=\"2862\">\n<li data-start=\"2698\" data-end=\"2862\">\n<p data-start=\"2700\" data-end=\"2862\">If desired, the company can simultaneously apply to be registered as a <strong data-start=\"2771\" data-end=\"2784\">VAT payer<\/strong> with the State Revenue Service (SRS).<\/p>\n<\/li>\n<\/ul>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-a59a5393b586bb4a8cd\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-a59a5393b586bb4a8cd\" href=\"#tab-a59a5393b586bb4a8cd\"><h4 class=\"fusion-tab-heading\">4. Sign documents<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-a59a5393b586bb4a8cd\" id=\"tab-a59a5393b586bb4a8cd\"><div class=\"awb-tab-pane-inner\">\n<h2 data-start=\"230\" data-end=\"261\">Choose the preferred signing method<\/h2>\n<h3 data-start=\"230\" data-end=\"261\">1. <strong data-start=\"236\" data-end=\"261\">For Latvian Residents<\/strong><\/h3>\n<p data-start=\"262\" data-end=\"350\">Latvian residents can use <strong data-start=\"288\" data-end=\"321\">local digital signature tools<\/strong> or traditional notarization.<\/p>\n<ul>\n<li data-start=\"354\" data-end=\"408\"><strong data-start=\"354\" data-end=\"408\">\u00a0Qualified Electronic Signature (QES \/ e-signature) is p<\/strong>rovided by Latvian state services (e.g., <em data-start=\"455\" data-end=\"473\">eParaksts mobile<\/em>, ID card with a chip). It is fully recognized by the <strong data-start=\"525\" data-end=\"548\">Enterprise Register<\/strong>\u00a0 and allows documents to be signed and submitted entirely online through the UR portal.<\/li>\n<li><strong data-start=\"720\" data-end=\"764\">In-person notarization (less common now). <\/strong>Resident founders can also sign documents before a <strong data-start=\"820\" data-end=\"838\">Latvian notary<\/strong>, who then certifies the signature.<\/li>\n<li style=\"list-style-type: none;\"><\/li>\n<\/ul>\n<h3 data-start=\"948\" data-end=\"982\">2. <strong data-start=\"954\" data-end=\"982\">For EU\/EEA Non-Residents<\/strong><\/h3>\n<ul data-start=\"1055\" data-end=\"1808\">\n<li data-start=\"1055\" data-end=\"1385\">\n<p data-start=\"1057\" data-end=\"1110\"><strong data-start=\"1057\" data-end=\"1110\">EU eIDAS-complia<\/strong><strong data-start=\"1057\" data-end=\"1110\">nt Qualified Electronic Signature. <\/strong>If the non-resident has a <strong data-start=\"1141\" data-end=\"1181\">QES issued in another EU\/EEA country<\/strong>, it is legally recognized in Latvia.Example: Estonian <em data-start=\"1241\" data-end=\"1251\">Smart-ID<\/em> (QES version), Lithuanian <em data-start=\"1278\" data-end=\"1289\">Mobile-ID<\/em>, or EU-wide QES providers.<\/p>\n<\/li>\n<li data-start=\"1387\" data-end=\"1808\">\n<p data-start=\"1389\" data-end=\"1433\"><strong data-start=\"1389\" data-end=\"1433\">Notarization in home country + Apostille<\/strong><\/p>\n<ul data-start=\"1436\" data-end=\"1808\">\n<li data-start=\"1436\" data-end=\"1545\">\n<p data-start=\"1438\" data-end=\"1545\">If the non-resident cannot use a recognized QES, documents must be signed before a notary in their country.<\/p>\n<\/li>\n<li data-start=\"1548\" data-end=\"1697\">\n<p data-start=\"1550\" data-end=\"1697\">The notary-certified documents then need an <strong data-start=\"1594\" data-end=\"1607\">apostille<\/strong> (or consular legalization, if the country is not part of the Hague Apostille Convention).<\/p>\n<\/li>\n<li data-start=\"1700\" data-end=\"1808\">\n<p data-start=\"1702\" data-end=\"1808\">After apostille\/legalization, the documents must be <strong data-start=\"1754\" data-end=\"1781\">translated into Latvian<\/strong> by a certified translator.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 data-start=\"1815\" data-end=\"1853\">3. <strong data-start=\"1821\" data-end=\"1853\">For Non-EU\/EEA Non-Residents<\/strong><\/h3>\n<p data-start=\"1854\" data-end=\"1954\">Here the process is stricter, since their e-signatures are usually <strong data-start=\"1921\" data-end=\"1928\">not<\/strong> recognized automatically.<\/p>\n<ul data-start=\"1956\" data-end=\"2568\">\n<li data-start=\"1956\" data-end=\"2305\">\n<p data-start=\"1958\" data-end=\"2014\"><strong data-start=\"1958\" data-end=\"2014\">Option A: Apostilled \/ Legalized Notarized Documents<\/strong><\/p>\n<ul data-start=\"2017\" data-end=\"2305\">\n<li data-start=\"2017\" data-end=\"2070\">\n<p data-start=\"2019\" data-end=\"2070\">Sign documents before a notary in the home country.<\/p>\n<\/li>\n<li data-start=\"2073\" data-end=\"2185\">\n<p data-start=\"2075\" data-end=\"2185\">Have them <strong data-start=\"2085\" data-end=\"2099\">apostilled<\/strong> (if the country is in the Hague Apostille Convention) or <strong data-start=\"2157\" data-end=\"2170\">legalized<\/strong> via consulate.<\/p>\n<\/li>\n<li data-start=\"2188\" data-end=\"2233\">\n<p data-start=\"2190\" data-end=\"2233\">Translate into Latvian (sworn translation).<\/p>\n<\/li>\n<li data-start=\"2236\" data-end=\"2305\">\n<p data-start=\"2238\" data-end=\"2305\">Submit to the Enterprise Register (physically or scanned\/uploaded).<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"2307\" data-end=\"2568\">\n<p data-start=\"2309\" data-end=\"2351\"><strong data-start=\"2309\" data-end=\"2351\">Option B: Obtain a Latvian e-Signature<\/strong><\/p>\n<ul data-start=\"2354\" data-end=\"2568\">\n<li data-start=\"2354\" data-end=\"2499\">\n<p data-start=\"2356\" data-end=\"2499\">Non-residents can apply for a <strong data-start=\"2386\" data-end=\"2406\">Latvian eID card<\/strong> (if eligible, e.g., through residence permit) or use commercial EU-recognized QES providers.<\/p>\n<\/li>\n<li data-start=\"2502\" data-end=\"2568\">\n<p data-start=\"2504\" data-end=\"2568\">Once issued, this allows them to sign and register fully online.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 data-start=\"2575\" data-end=\"2637\">4. <strong data-start=\"2581\" data-end=\"2637\">Special Case: Corporate Founders (Foreign Companies)<\/strong><\/h3>\n<p data-start=\"2638\" data-end=\"2680\">If a <strong data-start=\"2643\" data-end=\"2662\">foreign company<\/strong> is a shareholder:<\/p>\n<ul data-start=\"2681\" data-end=\"2941\">\n<li data-start=\"2681\" data-end=\"2844\">\n<p data-start=\"2683\" data-end=\"2844\">The company documents (certificate of incorporation, articles, power of attorney, etc.) must be <strong data-start=\"2779\" data-end=\"2830\">notarized, apostilled\/legalized, and translated<\/strong> into Latvian.<\/p>\n<\/li>\n<li data-start=\"2845\" data-end=\"2941\">\n<p data-start=\"2847\" data-end=\"2941\">A legal representative of the company (often via power of attorney) signs the KR4 application.<\/p>\n<\/li>\n<\/ul>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-117e6e4635e846cd3f6\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-117e6e4635e846cd3f6\" href=\"#tab-117e6e4635e846cd3f6\"><h4 class=\"fusion-tab-heading\">5. Temporary bank account<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-117e6e4635e846cd3f6\" id=\"tab-117e6e4635e846cd3f6\"><div class=\"awb-tab-pane-inner\">\n<h2 data-start=\"231\" data-end=\"495\">Open a temporary bank account<\/h2>\n<p data-start=\"231\" data-end=\"495\">A temporary bank account is required for depositing the initial share capital of a company (most often for an SIA \u2013 limited liability company). Proof of this deposit must be submitted to the Latvian Enterprise Register (UR) to complete incorporation.<\/p>\n<ol>\n<li data-start=\"516\" data-end=\"535\">\n<h3><strong data-start=\"516\" data-end=\"533\">Choose a Bank. <\/strong><\/h3>\n<\/li>\n<\/ol>\n<p>Temporary accounts can be opened with Latvian commercial banks (e.g., Swedbank, SEB, Luminor, Citadele), some banks require prior compliance checks (KYC \u2013 Know Your Customer).<\/p>\n<ol>\n<li data-start=\"730\" data-end=\"756\">Submit Documentation:\n<ul data-start=\"760\" data-end=\"1124\">\n<li data-start=\"760\" data-end=\"861\">\n<p data-start=\"762\" data-end=\"861\"><strong data-start=\"762\" data-end=\"815\">Draft Articles of Association \/ Founding Decision<\/strong> (to prove intent to establish the company).<\/p>\n<\/li>\n<li data-start=\"865\" data-end=\"935\">\n<p data-start=\"867\" data-end=\"935\"><strong data-start=\"867\" data-end=\"895\">Identification documents<\/strong> of the founder(s) (passport\/ID card).<\/p>\n<\/li>\n<li data-start=\"939\" data-end=\"986\">\n<p data-start=\"941\" data-end=\"986\"><strong data-start=\"941\" data-end=\"961\">Proof of address<\/strong> (sometimes requested).<\/p>\n<\/li>\n<li data-start=\"990\" data-end=\"1124\">\n<p data-start=\"992\" data-end=\"1124\">If a <strong data-start=\"997\" data-end=\"1016\">foreign founder<\/strong>: notarized\/apostilled company documents and power of attorney (if representative is opening the account).<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"1126\" data-end=\"1368\">\n<p data-start=\"1129\" data-end=\"1156\"><strong data-start=\"1129\" data-end=\"1154\">Deposit Share Capital<\/strong><\/p>\n<ul data-start=\"1160\" data-end=\"1368\">\n<li data-start=\"1160\" data-end=\"1257\">\n<p data-start=\"1162\" data-end=\"1257\">Minimum share capital for a standard SIA: <strong data-start=\"1204\" data-end=\"1214\">\u20ac2,800<\/strong> (can be less for a \u201csmall capital\u201d SIA).<\/p>\n<\/li>\n<li data-start=\"1261\" data-end=\"1368\">\n<p data-start=\"1263\" data-end=\"1368\">Bank issues a <strong data-start=\"1277\" data-end=\"1314\">statement\/confirmation of deposit<\/strong>. This must be submitted to the Enterprise Register.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"1370\" data-end=\"1632\">\n<p data-start=\"1373\" data-end=\"1403\"><strong data-start=\"1373\" data-end=\"1401\">Use During Incorporation<\/strong><\/p>\n<ul data-start=\"1407\" data-end=\"1632\">\n<li data-start=\"1407\" data-end=\"1503\">\n<p data-start=\"1409\" data-end=\"1503\">The account is <strong data-start=\"1424\" data-end=\"1435\">blocked<\/strong> until company registration is finalized (only deposits possible).<\/p>\n<\/li>\n<li data-start=\"1507\" data-end=\"1632\">\n<p data-start=\"1509\" data-end=\"1632\">After the company is officially registered, the account becomes a <strong data-start=\"1575\" data-end=\"1603\">regular business account<\/strong>, allowing full operations.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"1634\" data-end=\"1867\">\n<p data-start=\"1637\" data-end=\"1651\"><strong data-start=\"1637\" data-end=\"1649\">Timeline<\/strong><\/p>\n<ul data-start=\"1655\" data-end=\"1867\">\n<li data-start=\"1655\" data-end=\"1760\">\n<p data-start=\"1657\" data-end=\"1760\">Opening a temporary account usually takes <strong data-start=\"1699\" data-end=\"1720\">1\u20133 business days<\/strong>, depending on bank compliance checks.<\/p>\n<\/li>\n<li data-start=\"1764\" data-end=\"1867\">\n<p data-start=\"1766\" data-end=\"1867\">Some banks may take longer for <strong data-start=\"1797\" data-end=\"1822\">non-resident founders<\/strong> due to AML (anti-money laundering) checks.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<ul data-start=\"1880\" data-end=\"2243\">\n<li data-start=\"1880\" data-end=\"1978\"><\/li>\n<\/ul>\n<p data-start=\"1882\" data-end=\"1978\">Some banks are stricter with <strong data-start=\"1911\" data-end=\"1934\">non-EU\/EEA founders<\/strong> and may require additional due diligence. For faster processing, ensure all documents are <strong data-start=\"2029\" data-end=\"2090\">properly notarized\/apostilled and translated into Latvian<\/strong> (if applicable).<\/p>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-3c3dc227d20b0e4ff1f\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-3c3dc227d20b0e4ff1f\" href=\"#tab-3c3dc227d20b0e4ff1f\"><h4 class=\"fusion-tab-heading\">6. Share capital<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-3c3dc227d20b0e4ff1f\" id=\"tab-3c3dc227d20b0e4ff1f\"><div class=\"awb-tab-pane-inner\">\n<h2 class=\"wp-block-heading\">Share capital<\/h2>\n<p>Share capital refers to the monetary and non-monetary assets, valued in euros, that are invested into a capital company to initiate and sustain its operations.<\/p>\n<h3 class=\"wp-block-heading\"><strong>Key Requirements:<\/strong><\/h3>\n<ul class=\"wp-block-list\">\n<li>The share capital must be denominated in euros.<\/li>\n<li>The minimum nominal value of a share is one cent.<\/li>\n<li>The minimum required share capital is\u00a0<strong>EUR 2,800<\/strong>.<\/li>\n<li>Share capital must be contributed by the founders, either in cash or as a non-cash (in-kind) contribution.<\/li>\n<li>The full amount of the share capital must be paid before submitting the company\u00a0<a href=\"https:\/\/taxwise.lv\/registration-of-a-company-in-the-commercial-register-of-latvia\/\">registration\u00a0<\/a>application.<\/li>\n<\/ul>\n<h3 class=\"wp-block-heading\"><strong>Cash Contributions:<\/strong><\/h3>\n<ul class=\"wp-block-list\">\n<li>Founders must open a bank account in the name of the company being established.<\/li>\n<li>They must deposit the capital into this account and obtain a statement from the bank addressed to the Commercial Register Authority, or another official document from the bank confirming the paid-up capital.<\/li>\n<li>If the contribution is made through a payment service provider, the same steps apply\u2014opening an account in the company\u2019s name, making the deposit, and receiving confirmation from the provider.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Non-Cash (In-Kind) Contributions:<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>If any part of the equity capital is provided as a non-cash contribution, its value must be assessed in accordance with\u00a0<strong>Section 154 of the Commercial Law<\/strong>.<\/li>\n<li>The contribution must be evaluated by a certified evaluator listed in the official register. The evaluator\u00a0<strong>must not be<\/strong>\u00a0a relative of the property owner up to the third degree, a spouse, or an in-law up to the second degree, nor have any vested interest in the property.<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\"><strong>Simplified Valuation for Small Contributions:<\/strong><\/h2>\n<ul class=\"wp-block-list\">\n<li>If, when forming a limited liability company, the total value of non-cash contributions does not exceed\u00a0<strong>EUR 5,700<\/strong>\u00a0and these contributions make up less than half of the company\u2019s share capital, the founders themselves may assess the value.<\/li>\n<li>In such cases, all founders must sign the valuation opinion.<\/li>\n<\/ul>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-91cc94d589387046ded\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-91cc94d589387046ded\" href=\"#tab-91cc94d589387046ded\"><h4 class=\"fusion-tab-heading\">7. Submit documents<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-91cc94d589387046ded\" id=\"tab-91cc94d589387046ded\"><div class=\"awb-tab-pane-inner\">\n<h2 data-start=\"148\" data-end=\"823\">How to submit the documents to the Enterprise Register<\/h2>\n<p data-start=\"148\" data-end=\"823\">Documents for company registration in Latvia may be submitted to the Enterprise Register in several ways.<\/p>\n<p data-start=\"148\" data-end=\"823\">The most efficient method is electronic submission through the Enterprise Register\u2019s e-service portal or by email. In this case, all documents must be signed with a Qualified Electronic Signature (QES). Latvian residents typically use the national eParaksts mobile or ID card, while EU residents can use any eIDAS-recognized electronic signature, such as Estonian Smart-ID QES or Lithuanian Mobile-ID. This method is the fastest and most cost-effective, as it avoids notarization and courier costs, with processing usually completed within one to three business days.<\/p>\n<p data-start=\"825\" data-end=\"1288\">Documents may also be submitted by post or courier to the Enterprise Register office. When using this method, documents must contain notarized signatures if they are not electronically signed. Foreign documents require an apostille or legalization, as well as a certified translation into Latvian. Postal submissions naturally take longer due to delivery times, although courier services are recommended for international submissions to ensure safety and speed.<\/p>\n<p data-start=\"1290\" data-end=\"1691\">Another option is in-person submission. Paper documents can be delivered directly to the Enterprise Register\u2019s central office in Riga. This requires original signed documents, with notarization if applicable, and the applicant or an authorized representative must present identification. The advantage of this method is immediate confirmation of receipt, but it requires physical presence in Latvia.<\/p>\n<p data-start=\"1693\" data-end=\"2081\">For non-residents who cannot use Latvian electronic signature tools, a practical solution is submission through a Latvian notary The notary can prepare and electronically submit documents directly to the Enterprise Register, ensuring that all formalities such as translation, apostille, and certification are properly completed. This option is reliable but comes with additional costs.<\/p>\n<p data-start=\"2083\" data-end=\"2610\">Finally, it is possible to submit documents via an authorized representative, such as a lawyer, notary, or business service provider. In this case, the founders grant a power of attorney, which must be notarized and apostilled or legalized if issued abroad. The representative may then choose the most suitable method of submission\u2014electronically, by post, or in person. This solution is particularly convenient for foreign founders who wish to avoid traveling to Latvia, especially when the shareholder is a foreign company.<\/p>\n<p data-start=\"2612\" data-end=\"2918\">In short, Latvian residents usually opt for electronic submission with eParaksts, EU and EEA residents can use their own qualified electronic signature under eIDAS, and non-EU residents most often proceed with notarized and apostilled documents by post, courier, or via a local authorized representative.<\/p>\n<\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-9a162703cfaf05038e4\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-9a162703cfaf05038e4\" href=\"#tab-9a162703cfaf05038e4\"><h4 class=\"fusion-tab-heading\">8. Permanent bank account<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-9a162703cfaf05038e4\" id=\"tab-9a162703cfaf05038e4\"><div class=\"awb-tab-pane-inner\">\n<h2 data-start=\"714\" data-end=\"742\">Transform the termporary account into permanent one<\/h2>\n<p data-start=\"714\" data-end=\"742\">The process is as follows:<\/p>\n<ol data-start=\"744\" data-end=\"2240\">\n<li data-start=\"744\" data-end=\"954\">\n<p data-start=\"747\" data-end=\"954\"><strong data-start=\"747\" data-end=\"786\">Obtain the Registration Certificate<\/strong><br data-start=\"786\" data-end=\"789\" \/>After the Enterprise Register approves the incorporation, the company receives an official registration certificate and is entered into the Commercial Register.<\/p>\n<\/li>\n<li data-start=\"956\" data-end=\"1463\">\n<p data-start=\"959\" data-end=\"1077\"><strong data-start=\"959\" data-end=\"992\">Provide Documents to the Bank<\/strong><br data-start=\"992\" data-end=\"995\" \/>The founder or company representative must present the following to the bank:<\/p>\n<ul data-start=\"1081\" data-end=\"1463\">\n<li data-start=\"1081\" data-end=\"1157\">\n<p data-start=\"1083\" data-end=\"1157\">The <strong data-start=\"1087\" data-end=\"1122\">Enterprise Register certificate<\/strong> (confirmation of incorporation).<\/p>\n<\/li>\n<li data-start=\"1161\" data-end=\"1236\">\n<p data-start=\"1163\" data-end=\"1236\">A copy of the <strong data-start=\"1177\" data-end=\"1204\">Articles of Association<\/strong> or Memorandum of Association.<\/p>\n<\/li>\n<li data-start=\"1240\" data-end=\"1328\">\n<p data-start=\"1242\" data-end=\"1328\"><strong data-start=\"1242\" data-end=\"1270\">Identification documents<\/strong> of the company\u2019s legal representatives (board members).<\/p>\n<\/li>\n<li data-start=\"1332\" data-end=\"1463\">\n<p data-start=\"1334\" data-end=\"1463\">In some cases, <strong data-start=\"1349\" data-end=\"1369\">proof of address<\/strong> or additional KYC\/AML documentation (especially if non-resident shareholders are involved).<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li data-start=\"1465\" data-end=\"1776\">\n<p data-start=\"1468\" data-end=\"1776\"><strong data-start=\"1468\" data-end=\"1494\">Bank Compliance Review<\/strong><br data-start=\"1494\" data-end=\"1497\" \/>The bank performs a standard compliance check on the new company. This may involve questions about the intended business activity, source of funds, and expected transactions. For non-resident founders or businesses in higher-risk industries, the review may be more detailed.<\/p>\n<\/li>\n<li data-start=\"1778\" data-end=\"2052\">\n<p data-start=\"1781\" data-end=\"2052\"><strong data-start=\"1781\" data-end=\"1810\">Activation of the Account<\/strong><br data-start=\"1810\" data-end=\"1813\" \/>After approval, the temporary account is converted into a <strong data-start=\"1874\" data-end=\"1920\">fully operational business current account<\/strong>. The company can then make and receive payments, set up internet banking, order debit cards, and use additional banking services.<\/p>\n<\/li>\n<li data-start=\"2054\" data-end=\"2240\">\n<p data-start=\"2057\" data-end=\"2240\"><strong data-start=\"2057\" data-end=\"2070\">Timeframe<\/strong><br data-start=\"2070\" data-end=\"2073\" \/>The conversion usually takes <strong data-start=\"2105\" data-end=\"2128\">a few business days<\/strong>, though it may be longer if the bank requires additional due diligence, especially for non-resident founders.<\/p>\n<\/li>\n<\/ol>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-5 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-right-medium:60px;--awb-padding-left-medium:60px;--awb-margin-top-small:0px;--awb-background-color:#ffffff;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_2 1_2 fusion-flex-column fusion-flex-align-self-center\" style=\"--awb-bg-size:cover;--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.84%;--awb-width-medium:40%;--awb-order-medium:0;--awb-spacing-right-medium:4.8%;--awb-spacing-left-medium:4.8%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-3 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:24px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Montserrat&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">Interested to find out more?<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-7 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.6;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:0px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>Before establishing a company, our team will provide you with all information needed for your business. We will provide consultations about establishing a company and the applicable taxes. Furthermore, we will provide an insight into other requirements for the realization of business activities in Latvia.<\/p>\n<p>The below video describes the company formation process in brief, the more detailed explanation is provided below.<\/p>\n<\/div><div ><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-3 fusion-button-default-span fusion-button-default-type fusion-animated fusion-has-button-gradient\" style=\"--awb-margin-top:15px;--awb-padding-top:15px;--awb-padding-right:30px;--awb-padding-bottom:15px;--awb-padding-left:30px;--button_accent_color:#ffffff;--button_border_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#ffffff;--button-border-radius-top-left:0px;--button-border-radius-top-right:0px;--button-border-radius-bottom-right:0px;--button-border-radius-bottom-left:0px;--button_gradient_angle:135deg;--button_gradient_start:5%;--button_gradient_end:5%;--button_gradient_top_color:#93c12c;--button_gradient_bottom_color:#008dd2;--button_gradient_top_color_hover:#d8b458;--button_gradient_bottom_color_hover:#d8b458;--button_text_transform:capitalize;--button_font_size:18px;--button_line_height:1.0;--button_typography-letter-spacing:0px;--button_typography-font-family:&quot;Kumbh Sans&quot;;--button_typography-font-style:normal;--button_typography-font-weight:700;\" data-animationType=\"revealInLeft\" data-animationDuration=\"0.3\" data-animationOffset=\"top-into-view\" target=\"_self\" data-hover=\"bg_slide_right\" href=\"tel:+37129274911\"><i class=\"fa-phone-square-alt fas awb-button__icon awb-button__icon--default button-icon-left\" aria-hidden=\"true\"><\/i><span class=\"fusion-button-text awb-button__text awb-button__text--default\">+371 29 274 911<\/span><\/a><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_2 1_2 fusion-flex-column fusion-flex-align-self-stretch\" style=\"--awb-bg-size:cover;--awb-transform:translateY(0px);--awb-transform-hover:translateY(-10px);--awb-width-large:50%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.84%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.84%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-8\"><p><iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/vstimN7TF8U?si=N_GJxEsBAuzRtkUY\" width=\"100%\" height=\"320\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-6 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-right-medium:60px;--awb-padding-left-medium:60px;--awb-margin-top:120px;--awb-margin-top-small:0px;--awb-background-color:#ffffff;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_2_5 2_5 fusion-flex-column fusion-flex-align-self-center fusion-no-medium-visibility fusion-no-large-visibility\" style=\"--awb-padding-top:60px;--awb-padding-bottom:60px;--awb-bg-size:cover;--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:4.8%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:4.8%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-4 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:36px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Montserrat&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">taxation planning<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-9 fusion-text-no-margin\" style=\"--awb-margin-bottom:0px;\"><p>Eiusmod tempor incididunt ipsum ut labore dolore magna aliqua. Ut enim minim veniam duisy ipsum sed quis.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_3_5 3_5 fusion-flex-column fusion-flex-align-self-stretch\" style=\"--awb-bg-size:cover;--awb-transform:translateY(0px);--awb-transform-hover:translateY(-10px);--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.2%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.2%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-image-element\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-2 hover-type-none\"><img decoding=\"async\" width=\"1012\" height=\"321\" alt=\"Latvia company\" title=\"Latvia company registration\" src=\"https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967.jpg\" class=\"img-responsive wp-image-10537\" srcset=\"https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967-200x63.jpg 200w, https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967-400x127.jpg 400w, https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967-600x190.jpg 600w, https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967-800x254.jpg 800w, https:\/\/breicis.com\/wp-content\/uploads\/2020\/09\/132526715_s-e1696943694967.jpg 1012w\" sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 800px\" \/><\/span><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_2_5 2_5 fusion-flex-column fusion-flex-align-self-center fusion-no-small-visibility\" style=\"--awb-bg-size:cover;--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:4.8%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:4.8%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-5 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:36px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Montserrat&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">How to use a Latvian company?<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-10 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.6;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:0px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>The foreign investors usually select Latvia as a place for conducting the following business activities:<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-7 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-tabs fusion-tabs-3 classic awb-tabs-transition awb-tabs-transition-fade vertical-tabs icon-position-left mobile-mode-carousel mobile-sticky-tabs\" style=\"--awb-margin-top:80px;--awb-margin-bottom:80px;--awb-title-border-radius-top-left:0px;--awb-title-border-radius-top-right:0px;--awb-title-border-radius-bottom-right:0px;--awb-title-border-radius-bottom-left:0px;--awb-content-padding-top:50px;--awb-content-padding-right:50px;--awb-content-padding-bottom:50px;--awb-content-padding-left:50px;--awb-title-padding-top:25px;--awb-title-padding-right:20px;--awb-title-padding-bottom:25px;--awb-title-padding-left:20px;--awb-title-font-size:24px;--awb-title-text-transform:capitalize;--awb-title-line-height:1.7;--awb-alignment:start;--awb-inactive-color:#ffffff;--awb-title-text-color:#222222;--awb-title-active-text-color:#129e76;--awb-background-color:#eff4f2;--awb-border-color:rgba(255,255,255,0);--awb-active-border-color:#129e76;--awb-active-border-size:3px;--awb-transition-speed:300ms;--awb-border-size:1px;--awb-title-font-family:&quot;Kumbh Sans&quot;;--awb-title-font-style:normal;--awb-title-font-weight:700;\"><div class=\"nav\"><ul class=\"nav-tabs\" role=\"tablist\" aria-orientation=\"vertical\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-1340e0eddc66ec8ef1e\" aria-selected=\"true\" tabindex=\"0\" id=\"fusion-tab-1340e0eddc66ec8ef1e\" href=\"#tab-1340e0eddc66ec8ef1e\"><h2 class=\"fusion-tab-heading\">Trading company<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-1617599679aa0b029da\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-1617599679aa0b029da\" href=\"#tab-1617599679aa0b029da\"><h2 class=\"fusion-tab-heading\">Production company<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-edd252d69fdd068fff1\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-edd252d69fdd068fff1\" href=\"#tab-edd252d69fdd068fff1\"><h2 class=\"fusion-tab-heading\">Holding and services companies<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-28860e0ed68c885bcf6\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-28860e0ed68c885bcf6\" href=\"#tab-28860e0ed68c885bcf6\"><h2 class=\"fusion-tab-heading\">Foreign company registration<\/h2><\/a><\/li><li  role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-88d24d61c2d7f3d6f3e\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-88d24d61c2d7f3d6f3e\" href=\"#tab-88d24d61c2d7f3d6f3e\"><h2 class=\"fusion-tab-heading\">Legal forms of companies<\/h2><\/a><\/li><\/ul><\/div><div class=\"tab-content\"><div class=\"tab-pane fade fusion-clearfix in active\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-1340e0eddc66ec8ef1e\" id=\"tab-1340e0eddc66ec8ef1e\"><div class=\"awb-tab-pane-inner\">\n<ul>\n<li><a href=\"https:\/\/breicis.com\/trading-company-latvia\/\"><b>Trading company<\/b><\/a>. Latvian companies are used for trading within the EU and countries of CIS. Furthermore, the geographical position of Latvia and its transport capabilities allow the use of Latvian companies as a hub for trading between the East and West. A Latvian company may trade with the EU countries since it is straightforward to register it as a VAT payer for intra-community trade. The sale of goods to the European countries is subject to zero-rated VAT, meanwhile, the input VAT is fully recoverable for the Latvian company. There is a special VAT regime applicable to the import of goods from third countries. This means that the VAT on imports is self-accounted (not paid), thus providing cash-flow savings.<\/li>\n<li><a href=\"https:\/\/breicis.com\/en\/latvian-company-to-invest-in-stocks\/\"><strong>Trade with stocks or invest in stocks<\/strong><\/a>. The income from the sale of stocks traded on the stock exchange is exempt from taxation until distributed as dividends. Therefore, a Latvian company could be established to trade with the listed securities \u2013 stocks, shares, bonds, etc.<\/li>\n<li><a href=\"https:\/\/breicis.com\/latvia-company-cryptocurrencies\/\"><strong>Trade with cryptocurrencies (e.g. bitcoin)<\/strong><\/a>. Similarly, as for stocks, the gains from the sale of cryptocurrencies are not subject to tax until distributed as dividends. This creates an opportunity to trade with cryptocurrencies without taxing the income while the funds stay within the company.<\/li>\n<\/ul>\n<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-1617599679aa0b029da\" id=\"tab-1617599679aa0b029da\"><div class=\"awb-tab-pane-inner\">\n<ul>\n<li><a href=\"https:\/\/breicis.com\/en\/contract-manufacturer-latvia\/\"><b>Contract manufacturer<\/b><\/a>. Very often foreign groups establish in Latvia entities for the purpose of contract or toll manufacturing. The reason for this is a motivated workforce, low costs, and a favourable tax regime for manufacturing entities \u2013 0% corporate income tax on reinvested profits.<\/li>\n<\/ul>\n<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-edd252d69fdd068fff1\" id=\"tab-edd252d69fdd068fff1\"><div class=\"awb-tab-pane-inner\">\n<ul>\n<li><a href=\"https:\/\/breicis.com\/en\/holding-company-latvia\/\"><b>Latvia holding company<\/b><\/a>. A holding company regime in Latvia is quite attractive. Among others, it has a participation exemption for holdings exceeding three years. In most cases, capital and profit repatriation are free from withholding taxes, except for the payments to offshore jurisdictions. According to the recent global developments, a number of offshore jurisdictions have joined the OECD convention on sharing of the information and therefore are not blacklisted anymore.<\/li>\n<li><a href=\"https:\/\/breicis.com\/en\/shared-service-centres\/\"><b>Shared service centers<\/b><\/a>. The developed infrastructure, highly skilled workforce and low costs allow the creation of effective service centres, such as logistic management, IT etc.<\/li>\n<li><strong>Micro-business<\/strong>. If a business\u2019s annual turnover does not exceed EUR 40,000, a Latvian company using a micro-tax regime could be opted for. This allows reducing the tax burden to 15% of the revenues (not profit) instead of paying corporate income tax and payroll taxes. Such a structure is usually suitable for service companies (marketing, consulting, etc.), and it has low costs and a high-profit margin. This option, however, has changed as of 1 January 2021.<\/li>\n<\/ul>\n<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-28860e0ed68c885bcf6\" id=\"tab-28860e0ed68c885bcf6\"><div class=\"awb-tab-pane-inner\">\n<ul>\n<li><a href=\"https:\/\/breicis.com\/en\/branch-of-a-foreign-company\/\"><strong>Latvian branch of the foreign company<\/strong>.<\/a>\u00a0For trading purposes, a foreign company established offshore may create a Latvian branch and use it for the purchase\/sale of the goods within the EU and\/or between the EU and third countries. The benefit of the Latvian branch is that it provides transparency of the activities that are becoming a mandatory requirement of the banks for opening a bank account and also solves the problem of the information exchange between the tax authorities of the countries involved.<\/li>\n<li><a href=\"https:\/\/breicis.com\/en\/representative-office\/\"><strong>A\u00a0<\/strong><strong>representative\u00a0<\/strong><strong>office<\/strong><\/a>, a foreign company can establish a representative office to conduct marketing and other support (non-business) operations in Latvia. The establishment of a representative office in Latvia is straightforward. The representative office is not a corporate income taxpayer in Latvia and does not pay other taxes except for payroll taxes. The representative office is often used as a vehicle to obtain a temporary residence permit.<\/li>\n<\/ul>\n<\/div><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-88d24d61c2d7f3d6f3e\" id=\"tab-88d24d61c2d7f3d6f3e\"><div class=\"awb-tab-pane-inner\">\n<p>The forms of doing business in Latvia could be qualified as follows:<\/p>\n<ul>\n<li>Limited liability company<\/li>\n<li>Public limited liability (joint-stock) Company<\/li>\n<li>Partnership<\/li>\n<li>Branch<\/li>\n<li>Permanent establishment<\/li>\n<li>Representative office (for non-business or preparatory activities).<\/li>\n<\/ul>\n<p>Still confused about which form of business to select to start the business in Latvia?\u00a0<a href=\"https:\/\/breicis.com\/en\/company-branch-representative-office-latvia\/\">Please find here the comparison of the most frequent forms of business in Latvia \u2013 a Latvian company, a branch (permanent establishment) or a representative office.<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-8 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-right-medium:60px;--awb-padding-left-medium:60px;--awb-margin-top:120px;--awb-margin-top-small:0px;--awb-background-color:#ffffff;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_3_5 3_5 fusion-flex-column fusion-flex-align-self-center\" style=\"--awb-bg-size:cover;--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.2%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:3.2%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-6 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:36px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Montserrat&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">Our company registration services<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"fusion-text fusion-text-11 fusion-text-no-margin\" style=\"--awb-font-size:18px;--awb-line-height:1.6;--awb-letter-spacing:0px;--awb-text-transform:var(--awb-typography4-text-transform);--awb-text-color:#3b6c80;--awb-margin-bottom:0px;--awb-text-font-family:&quot;Montserrat&quot;;--awb-text-font-style:normal;--awb-text-font-weight:400;\"><p>We supply\u00a0the complete scope of services required to open a company in Latvia and ensure additional services, including accounting and legal services, as follows:<\/p>\n<ul>\n<li>Registration of a Latvian company with the Registry of Enterprises of Latvia<\/li>\n<li>The foreign company branch registration with the Registry of Enterprises<\/li>\n<li>Registration of a permanent establishment of the foreign company with the State Revenue Service<\/li>\n<li>Registration of a representative office of a foreign company with the Registry of Enterprises<\/li>\n<li>VAT registration with the State Revenue Service.\u00a0<a href=\"https:\/\/breicis.com\/en\/vat-registration-latvia\">More information regarding the VAT registration in Latvia<\/a>.<\/li>\n<li>Accounting services.<\/li>\n<\/ul>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_2_5 2_5 fusion-flex-column fusion-flex-align-self-stretch\" style=\"--awb-bg-size:cover;--awb-transform:translateY(0px);--awb-transform-hover:translateY(-10px);--awb-width-large:40%;--awb-margin-top-large:0px;--awb-spacing-right-large:4.8%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:4.8%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-image-element\" style=\"--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-3 hover-type-none\"><img decoding=\"async\" width=\"640\" height=\"640\" title=\"BREICIS_accounting_4\" src=\"https:\/\/breicis.com\/wp-content\/uploads\/2023\/10\/BREICIS_accounting_4.jpg\" alt class=\"img-responsive wp-image-15014\" srcset=\"https:\/\/breicis.com\/wp-content\/uploads\/2023\/10\/BREICIS_accounting_4-200x200.jpg 200w, https:\/\/breicis.com\/wp-content\/uploads\/2023\/10\/BREICIS_accounting_4-400x400.jpg 400w, https:\/\/breicis.com\/wp-content\/uploads\/2023\/10\/BREICIS_accounting_4-600x600.jpg 600w, https:\/\/breicis.com\/wp-content\/uploads\/2023\/10\/BREICIS_accounting_4.jpg 640w\" sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 600px\" \/><\/span><\/div><div style=\"text-align:center;\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-4 fusion-button-default-span fusion-button-default-type fusion-animated fusion-has-button-gradient\" style=\"--awb-margin-top:15px;--awb-padding-top:15px;--awb-padding-right:30px;--awb-padding-bottom:15px;--awb-padding-left:30px;--button_accent_color:#ffffff;--button_border_color:#ffffff;--button_accent_hover_color:#ffffff;--button_border_hover_color:#ffffff;--button-border-radius-top-left:0px;--button-border-radius-top-right:0px;--button-border-radius-bottom-right:0px;--button-border-radius-bottom-left:0px;--button_gradient_angle:135deg;--button_gradient_start:5%;--button_gradient_end:5%;--button_gradient_top_color:#93c12c;--button_gradient_bottom_color:#008dd2;--button_gradient_top_color_hover:#d8b458;--button_gradient_bottom_color_hover:#d8b458;--button_text_transform:capitalize;--button_font_size:18px;--button_line_height:1.0;--button_typography-letter-spacing:0px;--button_typography-font-family:&quot;Kumbh Sans&quot;;--button_typography-font-style:normal;--button_typography-font-weight:700;\" data-animationType=\"revealInLeft\" data-animationDuration=\"0.3\" data-animationOffset=\"top-into-view\" target=\"_self\" data-hover=\"bg_slide_right\" href=\"tel:+37129274911\"><i class=\"fa-phone-square-alt fas awb-button__icon awb-button__icon--default button-icon-left\" aria-hidden=\"true\"><\/i><span class=\"fusion-button-text awb-button__text awb-button__text--default\">+371 29 274 911<\/span><\/a><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-9 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:120px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1248px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-16 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-7 fusion-title-text fusion-title-size-three\" style=\"--awb-text-color:#192e37;--awb-margin-top-small:10px;--awb-margin-right-small:0px;--awb-margin-bottom-small:10px;--awb-margin-left-small:0px;--awb-font-size:36px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h3 class=\"fusion-title-heading title-heading-left\" style=\"font-family:&quot;Montserrat&quot;;font-style:normal;font-weight:600;margin:0;text-transform:capitalize;font-size:1em;line-height:1.3;\">Useful information<\/h3><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep-double sep-solid\" style=\"border-color:#e0dede;\"><\/div><\/div><\/div><div class=\"accordian fusion-accordian\" style=\"--awb-padding-top:10px;--awb-padding-bottom:10px;--awb-border-size:1px;--awb-icon-size:14px;--awb-content-font-size:17px;--awb-content-letter-spacing:0.010em;--awb-content-text-transform:var(--awb-typography4-text-transform);--awb-content-line-height:1.6;--awb-icon-alignment:left;--awb-hover-color:rgba(255,143,92,0.05);--awb-border-color:rgba(79,134,216,0.2);--awb-background-color:rgba(79,134,216,0.05);--awb-divider-color:rgba(79,134,216,0.2);--awb-divider-hover-color:#4e85d8;--awb-icon-color:#191919;--awb-title-color:#191919;--awb-content-color:#424242;--awb-icon-box-color:rgba(79,134,216,0.1);--awb-toggle-hover-accent-color:#008dd2;--awb-toggle-active-accent-color:#93c12c;--awb-title-font-family:&quot;Kumbh Sans&quot;;--awb-title-font-weight:600;--awb-title-font-style:normal;--awb-title-font-size:24px;--awb-title-line-height:1.4;--awb-title-text-transform:var(--awb-typography1-text-transform);--awb-content-font-family:&quot;Kumbh Sans&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-16996-1\"><div class=\"fusion-panel panel-default panel-ea739eb637b646cc0 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_ea739eb637b646cc0\"><a aria-expanded=\"false\" aria-controls=\"ea739eb637b646cc0\" role=\"button\" data-toggle=\"collapse\" data-target=\"#ea739eb637b646cc0\" href=\"#ea739eb637b646cc0\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Latvian company registration process in brief<\/span><\/a><\/h3><\/div><div id=\"ea739eb637b646cc0\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_ea739eb637b646cc0\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Latvian company registration\u00a0process in brief<\/h2>\n<p>In general, the process of registering the company in Latvia is as follows (the following activities are described for a limited liability company):<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">What you should know before the registration?<\/h3>\n<ul>\n<li>As the first step, the shareholder should provide us with detailed information as follows:\n<ul>\n<li>preferred name (or several possible names) of the company;<\/li>\n<li>information regarding shareholder (name, passport details and address of residence for individuals, legal address for a company)<\/li>\n<li>value of the share capital, number of shares<\/li>\n<li>information regarding the board member(s)<\/li>\n<li>information regarding the ultimate beneficial owner of the foreign company<\/li>\n<li>other information may be required.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Share capital and temporary bank account<\/h3>\n<ul>\n<li>Prior to registering a company, the shareholder has to open a temporary bank account and transfer at least 50% of the share capital. Usually, we open a temporary bank account on behalf of the shareholders based on the power of attorney.<\/li>\n<li>After the remittance of the share capital, we will submit the documents to the Enterprise Registry for review and registration of the company.<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Application to the Enterprise Registry<\/h3>\n<ul>\n<li>Based on the information a client provides us, we draft the documents required for the registration of a company in Latvian and English (or Russian). Some of the documents should be notary attested or signed with an electronic signature.<\/li>\n<li>The Enterprise Registry adopts a decision on the registration within 3 working days for a regular stamp duty (EUR 143) and within 1 working day for a triple stamp duty.<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Converting temporary bank account into permanent one<\/h3>\n<ul>\n<li>After registration of the company, a temporary bank account should be transformed into a permanent one. The newly established company\u2019s representative presence could be required to open a permanent bank account. Usually, it depends on a particular client and the references the client can provide to the bank. However, there is an option to open the bank account remotely based on the power of attorney.<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Getting along with the tax authorities<\/h3>\n<ul>\n<li>After the registration of the company, it should sign the agreement with the tax authorities for access to the electronic declaration system through which all tax returns must be submitted<\/li>\n<\/ul>\n<p>Furthermore, we provide more detailed information regarding possible legal forms of carrying business in Latvia.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-295cc1beb429d8ff5 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_295cc1beb429d8ff5\"><a aria-expanded=\"false\" aria-controls=\"295cc1beb429d8ff5\" role=\"button\" data-toggle=\"collapse\" data-target=\"#295cc1beb429d8ff5\" href=\"#295cc1beb429d8ff5\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Limited liability company<\/span><\/a><\/h3><\/div><div id=\"295cc1beb429d8ff5\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_295cc1beb429d8ff5\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">General information<\/h3>\n<p>A\u00a0<a href=\"https:\/\/www.ur.gov.lv\/en\/register\/company-or-merchant\/limited-liability-company-sia\/\">limited liability company<\/a>\u00a0is the most commonly used form of business in Latvia. Its share capital can be paid in cash or contributed in kind. The minimum share capital value is 2,840 EUR and at least half of it has to be paid in cash. Until applying for registration in the Register of Enterprises (ER) at least half of the share capital has to be paid, the remaining part must be paid within one year\u2019s time from the date the company has been registered in EUR.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Basic requirements<\/h3>\n<p>The basic requirements for a limited liability company are as follows:<\/p>\n<ul>\n<li>The Latvian company\u2019s management body is a board which must have at least one board member. There are no restrictions regarding the residence of the board member (it could be also a non-resident). The board member may or may not be an employee of the company or it may exercise his\/her power based on another arrangement with the company, e.g. power of attorney.<\/li>\n<li>There are no restrictions regarding the residence of the shareholders and board members<\/li>\n<li>The company could be managed and the shareholders\/board meetings may happen outside of Latvia<\/li>\n<li>The procedure of company registration can be performed remotely, based on the power of attorney (however, in case of visiting Latvia the process will be substantially faster and easier<\/li>\n<li>A minimum share capital of EUR 2 800 is required, at least half of which must be paid up prior to registration<\/li>\n<li>The legal address of SIA (i.e. official office address) has to be in Latvia<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>Documents to be submitted (2 or more founders, there are differences in a case with 1 founder)<\/strong><\/h3>\n<ul>\n<li>Application Form<\/li>\n<li>Founding Agreement\/Resolution of the sole shareholder<\/li>\n<li>Articles of association<\/li>\n<li>Bank\u2019s reference on payment of share capital, or for investment in kind<\/li>\n<li>Register of shareholders<\/li>\n<li>Consent of council shareholders (in case the council is established)<\/li>\n<li>Consent of the board members<\/li>\n<li>Notice of board for legal address<\/li>\n<li>The real estate owner\u2019s consent for the registration of the company\u2019s legal address<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for ER stamp duty fee payment<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>The fees and timing<\/strong><\/h3>\n<ul>\n<li>Single stamp duty\/ processing time: 142 EUR \/ 3 working days<\/li>\n<li>Triple stamp duty\/ processing time: 426 EUR \/ 1 working day<\/li>\n<li>Stamp duty for the certification of a signature ER: 4 EUR (if the certification is submitted for 3 or more signatures in a single registration for each certification of a signature stamp duty of 3 EUR)<\/li>\n<li>Publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<\/ul>\n<p>Based on our experience, when the shareholder is a foreign entity or individual, a simplified establishment time can take up to approximately one week.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-aad7c72746ccf1873 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_aad7c72746ccf1873\"><a aria-expanded=\"false\" aria-controls=\"aad7c72746ccf1873\" role=\"button\" data-toggle=\"collapse\" data-target=\"#aad7c72746ccf1873\" href=\"#aad7c72746ccf1873\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Limited Liability Company with reduced share capital<\/span><\/a><\/h3><\/div><div id=\"aad7c72746ccf1873\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_aad7c72746ccf1873\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Limited Liability Company with a reduced share capital<\/h2>\n<p>This is a company whose share capital value is less than 2,800 EUR. Before applying for registration share capital has to be signed and paid, in addition, until applying for the company registration it must be paid up in cash.<\/p>\n<p>The Latvian company must meet the following requirements of the Commercial Law:<\/p>\n<ul>\n<li>The number of founders of the company should not exceed five individuals<\/li>\n<li>The board of directors should consist of one or more members, and they all have to be shareholders of the company<\/li>\n<li>Each shareholder can be only a member of a single limited liability company with reduced share capital<\/li>\n<\/ul>\n<p>Every year limited liability company with reduced share capital should create a minimum reserve by making a deduction of at least 25 % of the year\u2019s net profit. The statutory reserve, based on shareholders\u2019 meetings can be used to increase the share capital or to cover the losses of the current or previous years.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>Documents to be submitted (2 or more founders, there are differences in case with 1 founder)<\/strong><\/h3>\n<p>Documents to be submitted are similar to those required by limited liability companies. The difference is in the document which confirms the payment of share capital. In this case, it can be confirmation of shareholders or bank reference.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>The fees and timing<\/strong><\/h3>\n<p>For registration of a limited liability company with reduced share capital, the amount of fees are reduced.<\/p>\n<ul>\n<li>Single stamp duty\/ processing time: 22 EUR \/ 3 working days<\/li>\n<li>Triple stamp duty\/ processing time: 64 EUR \/ 1 working day<\/li>\n<li>Stamp duty for the certification of a signature ER: 4 EUR (if the certification is submitted for 3 or more signatures in a single registration for each certification of a signature stamp duty of 3 EUR)<\/li>\n<li>Publication in \u201cLatvijas Vestnesis\u201d: 15 EUR<\/li>\n<\/ul>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-4d3eaef675ab5bf8a fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_4d3eaef675ab5bf8a\"><a aria-expanded=\"false\" aria-controls=\"4d3eaef675ab5bf8a\" role=\"button\" data-toggle=\"collapse\" data-target=\"#4d3eaef675ab5bf8a\" href=\"#4d3eaef675ab5bf8a\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Public Limited Company (Joint-stock company)<\/span><\/a><\/h3><\/div><div id=\"4d3eaef675ab5bf8a\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_4d3eaef675ab5bf8a\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Public Limited Company (Joint-stock company)<\/h2>\n<p>A public limited company is a public company and its shares can be public-traded.<\/p>\n<p>The share capital of a public limited company cannot be less than 35,500 EUR. If the share capital is set above 35,500 EUR, then by applying for registration the entire share capital has to be signed, but the paid-up share capital has to be not less than the statutory minimum share capital 35,500 EUR and not less than 25 % of the signed share capital (the rest is paid up no later than in one year\u2019s time from the date of signing the Founding Agreement).<\/p>\n<p>The public limited companies, depending on the type of their activity, have different minimum amounts of share capital (for example, the financial sector (banking, insurance, non-bank lending)).<\/p>\n<p><strong>Documents to be submitted (2 or more founders, there are differences in a case with 1 founder)<\/strong><\/p>\n<ul>\n<li>Application Form<\/li>\n<li>Founding Agreement<\/li>\n<li>Articles of association<\/li>\n<li>Bank\u2019s reference on payment of share capital, or for investment in kind<\/li>\n<li>Consent of council members, if necessary<\/li>\n<li>Consent of Board<\/li>\n<li>Notice of board for legal address<\/li>\n<li>The property owner\u2019s agreement for the registration company\u2019s legal address<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for ER state fee payment<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<\/ul>\n<p><strong>The fees and timing<\/strong><\/p>\n<ul>\n<li>Stamp duty\/ processing time: 355 EUR \/ 3 working days<\/li>\n<li>Stamp duty for the certification of a signature ER: 4 EUR (if the certification is submitted for 3 or more signatures in a single registration for each certification of a signature stamp duty of 3 EUR)<\/li>\n<li>Publication in \u201cLatvijas Vestnesis\u201d: 27 EUR<\/li>\n<\/ul>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-9cc66fea678ebe2c0 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_9cc66fea678ebe2c0\"><a aria-expanded=\"false\" aria-controls=\"9cc66fea678ebe2c0\" role=\"button\" data-toggle=\"collapse\" data-target=\"#9cc66fea678ebe2c0\" href=\"#9cc66fea678ebe2c0\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Partnership<\/span><\/a><\/h3><\/div><div id=\"9cc66fea678ebe2c0\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_9cc66fea678ebe2c0\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Partnership<\/h2>\n<p>There are two forms of partnership in Latvia: general partnership and limited partnership.<\/p>\n<p><strong>A general partnership<\/strong>\u00a0is a partnership, which is aimed to perform commercial activities by using a\u00a0joint company and a public agreement provided that a liability towards creditors is limited, united in two or more persons (members). The persons (members) could be legal persons or individuals, as well as, an already existing partnership.<\/p>\n<p><strong>A limited partnership<\/strong>\u00a0is a partnership, which aims to perform commercial activities by using a joint company united of two or more persons (members), where the liability of at least one member towards creditors is limited, according to the amount of his investment while other person\u2019s liability is not limited. The persons (members) could be legal persons or individuals, as well as an already existing partnership.<\/p>\n<p>The partnership is registered in the Registry of Enterprises of Latvia by its legal address. The general partnership name shall conclude Latvian word Pilnsabiedr\u012bba (General Partnership) or abbreviation PS. A limited partnership shall conclude the Latvian word Komand\u012btsabiedr\u012bba (Limited Partnership) or abbreviation KS. General and limited partnerships do not have requirements for equity capital.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>Documents to be submitted<\/strong><\/h3>\n<ul>\n<li>Application Form (Form 3)<\/li>\n<li>A notarized signature that confirms partnership member\u2019s rights to represent the partnership (in the case of an individual)<\/li>\n<li>Notice of board for legal address<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for ER state fee payment<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>The fees and timing<\/strong><\/h3>\n<ul>\n<li>Stamp duty\/ processing time: 143 EUR \/ 3 working days<\/li>\n<li>Stamp duty for the certification of a signature ER: 18 EUR<\/li>\n<li>Publication in \u201cLatvijas Vestnesis\u201d: 27 EUR<\/li>\n<\/ul>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-08895e2a6c331e599 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_08895e2a6c331e599\"><a aria-expanded=\"false\" aria-controls=\"08895e2a6c331e599\" role=\"button\" data-toggle=\"collapse\" data-target=\"#08895e2a6c331e599\" href=\"#08895e2a6c331e599\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Branch registration<\/span><\/a><\/h3><\/div><div id=\"08895e2a6c331e599\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_08895e2a6c331e599\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Branch registration<\/h2>\n<p>According to Commercial Law, a branch is an organizationally independent part of a company which is geographically or otherwise distinct from the main company, and the business on behalf of the main company is being conducted systematically.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>Documents to be submitted<\/strong><\/h3>\n<p><em><strong>Latvian branch<\/strong><\/em><\/p>\n<ul>\n<li>Application Form<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for a publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for ER state fee payment<\/li>\n<li>The real estate owner\u2019s agreement for the registration company\u2019s legal address<\/li>\n<\/ul>\n<p><em><strong>Foreign branch<\/strong><\/em><\/p>\n<p>For a foreign branch, all submitted commercial documents must be accompanied by a notarized translation into Latvian.<\/p>\n<ul>\n<li>Application<\/li>\n<li>Registration certificate of the country of the head office or a notarized copy (if in accordance with the law the business has to be written in the register)<\/li>\n<li>Authorization to found a branch (if the authorization is necessary by the foreign law)<\/li>\n<li>Foreign business articles of association, founding agreement or similar document\u2019s notarized copies<\/li>\n<li>The personal power of attorney to represent the foreign company with a branch in all related activities, including the extent of this authorization<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for ER state fee payment<\/li>\n<li>Proof of payment (a receipt, its copy, confirmed bank\u2019s online banking payment or completed notice) for publication in \u201cLatvijas Vestnesis\u201d<\/li>\n<li>The real estate owner\u2019s agreement for registration of the company\u2019s legal address<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\"><strong>The fees and timing<\/strong><\/h3>\n<ul>\n<li>Stamp duty\/ processing time: 29 EUR \/ 3 working days<\/li>\n<li>Triple stamp duty\/ processing time: 86 EUR \/ 1 working day<\/li>\n<li>Publication in \u201cLatvijas Vestnesis\u201d: 19 EUR<\/li>\n<\/ul>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-4432b51b5a2b5643d fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_4432b51b5a2b5643d\"><a aria-expanded=\"false\" aria-controls=\"4432b51b5a2b5643d\" role=\"button\" data-toggle=\"collapse\" data-target=\"#4432b51b5a2b5643d\" href=\"#4432b51b5a2b5643d\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Taxation<\/span><\/a><\/h3><\/div><div id=\"4432b51b5a2b5643d\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_4432b51b5a2b5643d\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">Latvian company taxation<\/h2>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Corporate income tax payable by a Latvian company<\/h3>\n<p>The corporate income tax is payable upon the distribution of profits only. Until the Latvian company keeps the profits, 0% tax is payable. The corporate income tax (CIT) rate applied on distributed gross dividends, deemed dividends or notional profit is 20%.<\/p>\n<p>However, the 20% rate applies to the gross dividend amount. In order to calculate the gross amount the net dividends (so the number of dividends the shareholder wishes to receive) should be divided by 0,8 to calculate the gross amount and then the 20% should be applied. The effective tax rate, i.e. the payable to net dividend amount is 25%.<\/p>\n<p>The companies registered in Latvia with the Register of Enterprises are subject to CIT on their worldwide income. The companies registered outside Latvia are subject to CIT on their Latvian-source income.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Value added tax<\/h3>\n<p>Unlike in other countries, the registration of a company\/branch for VAT purposes is\u00a0very straightforward. The regular VAT rate is 21%, reduced rate \u2013 12%.<\/p>\n<p>Zero-rated VAT applies to export transactions.<\/p>\n<p>The supplies of goods and services being made outside Latvia are not taxable in Latvia (not subject to Latvian VAT). However, the input VAT incurred to ensure such supplies are recoverable provided that such supplies would have been subject to Latvian VAT if they were provided in Latvia. This means that a Latvian company may purchase and sell the goods outside the EU and fully recover VAT paid in Latvia (e.g. for office).<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Payroll taxes<\/h3>\n<ul>\n<li>Personal income tax \u2014 20, 23% and 31%<\/li>\n<li>Social security tax \u2014 34,09%<\/li>\n<li>Minimum wage \u2014 620 EUR<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Holding company taxes<\/h3>\n<p>The inbound dividends, which a Latvian holding company receives, are not taxed in Latvia. The only exception is for dividends received from the low-tax jurisdictions (included in the so-called \u201cblack list\u201d).<\/p>\n<p>There is no withholding tax on outbound dividends paid to local or foreign companies (again, except offshore companies).<\/p>\n<p>The interest on loans and royalties for the use of intangibles are also exempt from withholding taxes.<\/p>\n<p>Capital gains arising in the hands of a Latvian company from the sale of shares in other companies are also exempt from the tax, provided that the company owns such shares for at least 36 months.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Microbusiness tax<\/h3>\n<p>One of the advantages of registration of the Latvian company is the possibility of obtaining the micro-enterprise status. Microenterprise gives the possibility to pay one general tax, which includes both corporate income tax, social tax and personal income tax.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-4e6d25d03d619f502 fusion-toggle-no-divider fusion-toggle-boxed-mode\"><div class=\"panel-heading\"><h3 class=\"panel-title toggle\" id=\"toggle_4e6d25d03d619f502\"><a aria-expanded=\"false\" aria-controls=\"4e6d25d03d619f502\" role=\"button\" data-toggle=\"collapse\" data-target=\"#4e6d25d03d619f502\" href=\"#4e6d25d03d619f502\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon fa-caret-down fas\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-caret-right fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">General information about Latvia<\/span><\/a><\/h3><\/div><div id=\"4e6d25d03d619f502\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_4e6d25d03d619f502\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<h2 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"22\" data-lineheight=\"55px\">General information about Latvia<\/h2>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Geography<\/h3>\n<p>The Republic of Latvia is on the eastern coast of the Baltic Sea at the crossroads of northern and eastern Europe. Latvia has a land border with Estonia (339 km) in the north, Russia (217 km) in the east, Belarus (141 km) in the southeast, Lithuania (453 km) in the south and a maritime border with Sweden in the West. Latvia\u2019s total coast lane is 531 km. In Latvia, there are three large ports \u2013 Liepaja, Riga and Ventspils which are ice-free also in winter. Furthermore, there are seven smaller ports distributed along all coast borders \u2013 Skulte, Mersrags, Salacgriva, Pavilosta, Roja, Lielupe and Engure. These smaller ports are of regional importance and operate around 80% of transit cargo through Latvia mainly from which is timber export and sea product import. Riga\u2019s and Ventspils ports operate as tax-free zones, and Liepaja is part of the special economic zone (SEZ).<\/p>\n<p>All these ports link with railroad and highway networks leading to any further desired direction. Latvia\u2019s climate is maritime continental. The country territory covers 64 589 km2 and has 1.920 million population.<\/p>\n<p>The capital of Latvia is Riga which is in the centre of the country at the coast of Riga Gulf.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Governing Political system:<\/h3>\n<p>Republic, parliamentary democracy<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Capital city:<\/h3>\n<p>Riga<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Head of State:<\/h3>\n<p>President Mr.\u00a0Egils Levits<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Head of Government:<\/h3>\n<p>Prime minister Mr. Arturs Kri\u0161j\u0101nis Kari\u0146\u0161.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Membership<\/h3>\n<ul>\n<li>World Trade Organization since 1998<\/li>\n<li>NATO since 2004<\/li>\n<li>EU since 2004<\/li>\n<li>Schengen Area since 2007<\/li>\n<li>Eurozone since 2014.<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Currency<\/h3>\n<p>As of 1 January 2014, Latvia has joined the Eurozone and adopted euro (EUR) as its national currency.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Language<\/h3>\n<p>Latvia has one official language \u2013 Latvian. However, most of the Latvian inhabitants know other languages such as English, Russian and German. In Latvia approximate structure of inhabitant language knowledge is as follows:<\/p>\n<ul>\n<li>85% of Latvians speak Russian<\/li>\n<li>70% of people under 40 speak English<\/li>\n<li>German, French and Scandinavian languages are also widely spoken<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Business infrastructure<\/h3>\n<p>There are a number of infrastructure advantages a Latvian company may benefit from:<\/p>\n<ul>\n<li>Three\u00a0ice-free ports (and 7 small ones)<\/li>\n<li>Airport connection to more than 80 destinations, the airport is easily accessible from Riga<\/li>\n<li>Railway connections from West to East and North to South<\/li>\n<li>Available telecommunications in the whole of Latvia\u2019s territory, as well as, all the utility supplies required.<\/li>\n<\/ul>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Government and Politics<\/h3>\n<p>Latvia is an independent democratic republic. The sovereign power of Latvia belongs to the people who elect the unicameral parliament (Saeima) with 100 members for a four-year period. The Saeima elects the President for a term of four years. The highest executive body of the country is the Cabinet of Ministers. The President invites a potential prime minister to form the Cabinet and Saeima approves the Cabinet.<\/p>\n<h3 class=\"fusion-responsive-typography-calculated\" data-fontsize=\"16\" data-lineheight=\"32px\">Incentives for investors in Latvian company<\/h3>\n<p>A Latvian company may benefit from a number of tax advantages among others being as follows:<\/p>\n<ul>\n<li>corporate income tax payable on distributed profits only<\/li>\n<li>holding company regime.<\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div><div style=\"text-align:center;\"><a class=\"fusion-button button-flat fusion-button-default-size button-custom fusion-button-default button-5 fusion-button-default-span fusion-button-default-type fusion-animated fusion-has-button-gradient\" 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