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Limited Liability Company in Latvia

Limited Liability Company in Latvia

A company in Latvia is well positioned to be an effective European tool for trade between Western and Eastern European countries.

Incorporation: approx.2-3 working days + delivery tome for the courier 


Minimum capital requirements: EUR 2800 (where only 50% must be paid before registering)

 

Overview

A Latvian SIA (limited liability company) is a privately owned Limited Company with one or more persons or corporate bodies being the Members of the SIA, which can be from any legal jurisdiction worldwide.

Positioned at the crossroads of northern and eastern Europe, the Baltic state of Latvia is rapidly making the most of its EU membership. Corporate tax rate is fixed at 15%, one of the lowest in the EU.


Advantages of Limited Liability Company in Latvia:

  • - High reputation
  • - EU  company
  • - 15% corporate income tax, one of the lowest in the EU
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Name check + + +
Company incorporation
+ + +
  • Name check and approval
  • Filling incorporation documents with the Registrar of Companies
  • A standard set of original corporate documents
  • Payment of the Government fee
  • Provision of registered address for one year
Local secretary + + +
Government fees + + +
Registered office for 1 year + + +
Delivery of original documents - + +
Apostilled documents
- + +
  • If applying for a corporate bank account, you will need to order a full set of apostilled company documents when the account is opened outside of the country of Company.
Nominee director and shareholder
- - +
  • This service is required if you do not want your name to appear in the corporate documents or in the government registry. For this purpose, we will appoint another person or entity that will act on your behalf and for your interests and benefit. Such a relationship will be legally based on Power of Attorney and Trust Declaration. Despite Power of Attorney not being publicly available, such service does not guarantee 100% confidentiality. In case of request from public authorities the information about actual beneficial owner may be disclosed.
Total amount:
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Facts & Info for Limited Liability Company in Latvia

Company
Services
Requirements

General information

Company structure

  • Only one shareholder (no nationality restriction)
  • The sole shareholder may become the only required director to manage the SIA (no nationality restriction)

Taxation

  • The normal corporate tax rate is 15%. However, a micro company only pays 9% as long as the total income does not exceed 100,000 Euro. The excess will be taxed at a 20% rate.
  • The personal income tax rate is 24% for those foreigners wishing to reside in Latvia.

N.B.

U.S. taxpayers must disclose all world income to the IRS as do everyone subject to global income taxes must report all income to their tax agency.

Registered office

Required

Company name

  • Letters: Only Latin and Latvian letters
  • Company name is restricted to be identical or similar that of an existing company.

Incorporation

  • Collection of necessary information for company registration
  • Preparing foundation documents for company registration
  • Signing of foundation documents, also at notary
  • Opening temporary bank account, where to deposit share capital
  • Payment of state fees for company formation and for publication official newspaper
  • Foundation document submitting to the Register of Enterprises of the Republic of Latvia
  • Company registration in the Register  of Enterprises of Latvia and receiving documents

Please provide us with the following documents and data:

 Incorporation

  • A notarized copy of valid passport (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • A copy of proof of residential address (ex. utility bill of each  Shareholder, Director, Beneficial Owner, Authorized Signatory that is  not older than 3 months) in English
  • Optional: A notarized copy of Bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
  • Optional: CV (of each Director and Shareholder)

N.B.

  • If Shareholders and/or directors are legal persons, then it is  required to submit full set of apostilled company documents and certificate of Good Standing. 
  • If documents are not in English language or language, they must be accompanied by a notarized  translation.