The Trade Register mainly known as the Enterprise Register of the Republic of Latvia is in charge with the registration of new companies and the maintenance of records on existing companies. The Latvian Trade Register has two divisions: the administration and eight departments. The administration is based in Riga, while the eight departments are situated in: Jekabpils, Rezekne, Saldus, Liepaja, Valmiera, Ventspils, Daugavpils and Bauska. The Trade Register is conducted by the Chief State Notary appointed by the Cabinet of Ministers.
The Latvian Trade Register has the following functions:
- the registration of national companies, foreign companies, branches and liaison offices;
- the registration of European economic groups, cooperatives and businesses, political entities, companies undergoing insolvency, institutions that conduct insolvency procedures, religious organizations, trade unions, properties resulted from marriages and real estate properties division and the maintenance of records;
- the conveyance of information about registered companies;
- receives and examines the documents companies submit for registration;
- receives and confirm specimen signatures from natural person and representatives of companies;
- verifies the companies and the information they submit upon registration;
- responds to any queries regarding submissions or any other information and grants access to parties that want to verify the registration documents;
- enforces penalties according to international organizations;
- handles cross-border fusions between companies;
- other functions provisioned by the law.
The documents that must be submitted with the Trade Register for company registration are:
- copies of the passports of the company’s board members;
- copies of the documents of identification of the owner of the company (in case the owner is a legal entity, a statement from the Companies Register within the parent’s company will be necessary);
- a registered office of the company in Latvia;
- a bank account number;
- the memorandum and articles of association of the company;
- a statement from the bank that proves the minimum share capital was deposited.
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