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 (physical, legal or resident of a different state).
Documents required for company registration;
- copies (scanned copies) of passports of founders, their place of residence, contact details;
- desired company's name in Latin letters;
- information regarding the amount of the authorized capital and distribution of shares among the founders;
- information regarding the relevance of VAT number registration;
- information about types of activities.
- It takes 2-3 working days to register a company if personally present.
A company can be registered remotely by virtue of power of attorney. It takes about 2 weeks.
For comparison, company registration in Poland, takes up to 10 working days,
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 registration, payment of the required government fees
Translation of powers of attorney
Assistance with opening a bank account
In order to register a company, you should also have a legal address. We provide a service of virtual office.
The cost of company registration in Latvia is; On 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