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Open a Company in Latvia

Open a Company in Latvia

Updated on Tuesday 20th October 2015

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Foreign enterprisers wanting to do business in Latvia can choose between several types of companies. The Latvian Commercial Code is very flexible, allowing foreign investors to register the same type of companies as local ones without any additional requirements. Moreover, foreign investors will benefit from special incentives for opening companies in Latvia.

Types of companies in Latvia

The following types of companies are available for registration in Latvia:

  • ·         - limited liability companies (SIA),
  • ·         - joint stock companies (AS),
  • ·         - partnerships.

Foreign companies can establish branch offices or representative offices. Foreign entrepreneurs may also register as sole proprietors in Latvia. Our Latvian lawyers can assist you with the registration procedure for any type of company.

Steps for company registration in Latvia

The minimum share capital to open a limited liability company in Latvia is 2,800 euros, while the minimum share capital for opening a joint stock company amounts up to 35,000 euros. Both the limited liability company and the joint stock company can be incorporated by one or more shareholders who can be natural persons or legal entities. In the case of Latvian joint stock companies, the share capital must be deposited in cash only.

The steps to open a company in Latvia are:

  • -          submitting the company formation documents with the Latvian Companies Registry,
  • -          opening a bank account,
  • -          registering for VAT purposes,
  • -          registering employees for social insurance purposes.

Certain Latvian companies may also be required to obtain special licenses depending on the object of activity.

Documents required to open a company in Latvia

The following documents must be prepared and submitted when opening a company in Latvia:

  • -          a registration application issued by the Trade Register which must be signed before a Latvian public notary,
  • -          the charter,
  • -          the Articles of Association,
  • -          proof of depositing the share capital,
  • -          proof of registered address,
  • -          proof of payment of the state duty,
  • -          proof of payment of the publication fee,
  • -          details about  the shareholders and directors of the Latvian company.

For complete information about company registration or for notary services you can contact our law firm in Latvia.

We invite you to watch a short video about how you can open a company, helped by our lawyers in Latvia:

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