| Service name | Standard set | Premium set |
| Company registration | + | + |
| Official address for 1 year | + | + |
| Apostil set | – | + |
| The Power Of Attorney | – | + |
| Bank account | – | + |
| Formation fee | 2500 EUR | 2700 EUR |
| Fee for yearly administration | 800 EUR | 900 EUR |
May1, 2004 Latvia has joined the European Union. Since March 29th 2004 Latvia is NATO member.
On December 21, 2007 Latvia part of the Schengen zone.
General information
Area – 64 589 sq. km
Population – 2 005 000
Capital – Riga
Official language – Latvian
Official currency – Euro (EUR)
Legal system – parliamentary republic
Legal form of company
Most common legal form in Latvia is Company with limited liability
Limited Liability;
Joint Stock Company.
Key specials
Latvia has agreements for the prevention of double taxation with following countries:
Australia, Austria , Belgium, Britain , Germany, Greece , Israel , Zambia Denmark , Iceland, Ireland, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand , Norway, Pakistan , Poland, Portugal, Russia ,USA, Finland, France, Czech Republic , Switzerland , Sweden , Estonia , South Africa , South Korea , Japan,Mexico , Netherlands, New Zealand, Norway, Pakistan, Poland, Portugal, Russia, USA, Finland, France, Czech Republic, Estonia, South Africa, South Korea, Japan.
Corporate legislation
– Latvian Commercial Law
Share capital
Limited Liability Company – 2 800 EUR
Joint Stock Company – 35 000 EUR
Opening of bank accounts
For Latvian Company we offer bank accounts in following countries:
Latvia
Estonia
Lithuania
Switzerland
Cyprus
Denmark
St. Vincent and the Grenadines
Belize
Seychelles
Tanzania
Bosnia
Hong Kong
Dubai
The main requirements for directors and shareholders for company (sia)
Legal status – a legal entity
Founders,Shareholders – minimum one
Status of – private or corporate persone
Residence – can be resident from any country
The Government
Directors – minimum one
Status of – private persone
Residence – can be resident of any country
Secretary – one (private persone)
* Information about shareholders stored in the registry.
The main requirements for directors and shareholders for company (as)
Legal status – a legal entity
Founders, Shareholders – minimum three
Status of – private or corporate person
Residence – can be resident from any country
The Government – Meeting of shareholders’
Directors – minimum one
Status of – private persone
Residence – can be resident of any country
Secretary – one (private persone)
* Information about directors and shareholders stored in the registry.
Taxation
Value added tax – 21% (transactions in Latvia); 0% – (export transactions with the EU)
Corporate tax – 10%
The tax on dividends is: received – 0% (excluding dividends from offshore ); paid – 0% (if the recipient private person – 10% if offshore – 15 %); interest paid – 0% (excluding interest in offshore);
Paid royalties – 0% (excluding royalties in offshore);
Capital gains from the sale of shares – 0% (other than shares of offshore companies).
Accountancy
Accounting records must be kept at the private address of the company:
Annual audit;
VAT declaration 1 once a month;
Opening information on beneficiaries of government authorities
Not disclosed
Free Enterprise Register of the application form the company.
Timeframes
New Company registration takes from 1 day.
Shelf companies are available.
For more information, please contact us.