Company registration in Latvia is pretty straightforward and easy. There are several forms of companies in Latvia, including:
- Limited Liability Company (SIA)
- Individual merchant (IK)
- Joint Stock Company (AS)
One of the most popular forms of companies in Latvia is a Limited Liability Company (LLC / SIA). Such companies have special privileges in the formation of fixed capital, aimed at supporting the new business.
Latvian SIA Can Be Of Two Forms:
1. Small-Capital SIA
Small-capital SIA, with fixed assets from EUR 1-2799. Such an SIA does not require the deposit of share capital at the time of registration of the company to the company's temporary bank account. Over time, the share capital of a small-capital LLC should increase to 2,800 euros or more. Small-capital SIA has the right to have only natural persons as founders.
2. SIA With Full Capital
SIA with full capital, i.e. 2,800 euros or more must open a temporary bank account in Latvia before registering the company, and deposit there the share capital, which can be used for the needs of the company after its registration in the Commercial Register.
Among the advantages of this form of company is the fact that the founders are not liable for personal property for the debts of the company, and their liability is limited to the property and assets of the company.
Latvian legislation does not introduce requirements for the number or residence of founders and board members. The founders of a Latvian company invest their funds in the fixed capital of the company and receive dividends in accordance with the number of shares of capital they own.
How Is A Company Registered In Latvia?
There are two ways to register a company in Latvia: remotely and on arrival. The term for opening a company with arrival is a little further due to the need to send the signed documents from you to Latvia and translate these into Latvian. In case of arrival, the standard registration period is 3 days (accelerated - 2 days) and requires your personal presence only at a Latvian notary.
Stages Of Company Registration In Latvia
- Company name verification and confirmation
- Preparation and filling of the necessary documents
- Certification of the signatures of all founders and board members on registration documents in the presence of a notary (including a foreign notary)
- In case of remote registration, sending signed documents to Riga and their translation
- Payment of mandatory duties and fees and submission of documents to the Commercial Register of Latvia
- Company registration in Latvia
Latvian Launch
Once all of these steps are completed, you can officially launch your company correctly in Latvia! Best of luck with your new Latvian business venture!
