Latvia

COMPANY FORMATION IN LATVIA

Positioned at the crossroads of northern and eastern Europe, the Baltic state of Latvia is rapidly making the most of its recently-acquired status as a member of the EU. Foreign investment is rising strongly and Latvian authorities have taken steps to streamline the regulations governing company formation. The most popular business entity is the limited liability company (SIA). Corporate tax rate is fixed at 15%, one of the lowest in the EU.

A company in Latvia is well positioned to be an effective EU intermediary for trade between Western and Eastern, “Russian- speaking” countries. Latvia is a multi-lingual society where all three Latvian, Russian and English languages are commonly spoken and professionals are adept at working with both Western and Eastern business cultures. Latvian banks are extremely efficient and well-developed (compared with often bureaucratic Russian banks), and can maintain accounts in all currencies including “soft” ones, such as Russian Roubles.

• Minimum share capital of Latvian company to be deposited: €3090, at least half to be paid up.
• Minimum one director is required for company registered in Latvia.
• No restrictions on foreign shareholders or directors in Latvian company.
• Registered company office address (no P.O. Box allowed)
• A visit to Latvia is suggested to discuss company accounting requirements and to open a comnpany bank account. Please contact us for alternative arrangements if initial visit to Latvia for discussion of company formation topics is not possible.

FEES FOR COMPANY SETUP IN LATVIA

TIMESCALES FOR COMPANY FORMATION IN LATVIA

• Five days to form the company in Latvia once the declaration has been signed and share capital has been transferred. The company inn Latvia can be registered in two days if there is only one shareholder.
• Shelf companies registered in Latvia are available, whereby a one day visit is sufficient to handle all required documentation and visit to the bank. Please contact us for more information on ready made Latvian shelf companies.
• 30 business days to obtain VAT number for company registered in Latvia.

OFFICE OPTIONS FOR COMPANIES REGISTERED IN LATVIA

• Virtual office for company registered in Latvia (includes telephone, fax and mail forwarding facilities): €200 per month (does not include postal/courier charges) payable quarterly in advance plus €600 deposit refundable within 30 days upon termination of your company office contract.
• Serviced office for company in Latvia: cost as per requirement. Please contact us for serviced office prices for company in Latvia

NOTES ON COMPANY FORMATION IN LATVIA

• We provide complete accountancy service (including VAT return and tax return) and registered office (mail forwarding) for companies registered in Latvia. Please contact us for a quote.
• Latvian company bank account will be managed by client via Power of Attorney issued by nominee director.
• Nominee director minimal social and wage taxes due to Latvian government not included in €700 annual fee (at the moment, min. €70 monthly)

HOW TO REGISTER A COMPANY IN LATVIA?

To open a Latvian company, we will require the following:

• 100% of the Latvian company formation cost  paid by bank transfer
• A completed Latvian company registration application form
• A  copy of each Latvian company's director/shareholders passport
• Proof of residential address of director / shareholder

Please send your documentation for company formation in Latvia to:

SIA IBC Konsultants
Antonijas St. 22-4, LV-1010

Riga, Latvia
Fax: +371 67333957
Email: info@eurocompanyregistration.com
Skype: Contact_IBC

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