Company formation in Latvia

Latvia is a country in Northern Europe, which borders with Lithuania, Estonia, Belarus and Russia and geographically connects the east and west, thus creating a bridge between the European and Scandinavian countries. Latvia has a developed transport infrastructure and an access to the Baltic Sea, which provides ample opportunities for business development.

The most popular legal form of doing business in this state is a limited liability company (LLC).

LLC in Latvia

The minimum amount of the authorized capital can be 1 euro.

The minimum number of founders is one person (physicallegal or resident of a different state).

Documents required for company registration;

  1. copies (scanned copiesof passports of founderstheir place of residencecontact details;
  2. desired company's name in Latin letters;
  3. information regarding the amount of the authorized capital and distribution of shares among the founders;
  4. information regarding the relevance of VAT number registration;
  5. information about types of activities.
  6. It takes 2-3 working days to register a company if personally present.

A company can be registered remotely by virtue of power of attorneyIt takes about 2 weeks.

The electronic registration requires electronically signed documents; this form of registration is only possible if all signers are from the EU zone, then the signatures shall be valid for the Company Register of Latvia.In case of company registration with a view of obtaining a VAT number, it takes 1 month. This service is optional.

What is included in the service of company registration in Latvia:

Preparation of a full package of documents for registrationpayment of the required government fees
Notarial support
Remote opening
Translation of powers of attorney
Assistance with opening a bank account

In order to register a companyyou should also have a legal addressWe provide a service of virtual office.

The cost of company registration in Latvia isOn request

Taxation in Latvia

The total VAT rate is 21%, income tax for non-residents is 5% -15%, the royalty is 10%, capital gains and income tax is 15%.

The company ORUGA\GROUP offers comprehensive legal services for your European company formation