6 Things to Know When Completing a Latvian Business Registration

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Have you considered registering your business with the Latvian government? You can enjoy international business opportunities and likely spend less on taxes. There are definite advantages to owning a company that’s registered in Latvia.

Latvia company formation benefits include:

  • Incredibly fast internet
  • Convenient, extensive transportation system
  • Excellent infrastructure
  • Great location to trade with European Union countries
  • Easy to do business there (source)

How to Register Your Company in Latvia

You will need to do the following to register your business with the Latvian government.

  1. Get Your Information Together

Start by putting together all the info you will need for your registration application. That includes shareholder and board member details, passport information, the company’s name, and share values.

  1. Prepare the Draft Documents

Draft documents will need to be prepared in both Latvian and your preferred language for the next step. The documents will need to be attested by a notary to complete them, and then it is on to the next step.

  1. Create a Bank Account

A temporary bank account will need to be created to handle half of the subscribed capital. The company handling the draft documents for you can set up the temporary bank account as well. That way, you won’t even have to go to Latvia for the process.

  1. Submit the Documents

The documents will need to be submitted with the application, sent on to the Commercial Registry for assessment. Their review of the submission can take between one and three business days.

  1. Change Bank Accounts

The temporary bank account will need to be changed to a permanent account, after the request has been met with approval. One of your company’s representatives may need to be present to make that happen, though power of attorney can be used to activate and change a bank account without you or one of your business partners having to step foot into Latvia.

  1. Complete Tax Agreement

The next step following registration is to complete the tax agreement form. You’ll need to sign this, and then you will have the power to submit tax returns when required.

Do You Need Assistance?

You could register your business on your own in Latvia, but it would be a lot easier to use a professional service based in Latvia to do it for you. We can provide consultations with prospective clients, so we can tell you what’s involved and how we can assist. We can help you find tax breaks, save money, and save time during the registration process so that everything goes smoothly.

We can help ensure that you get through with the registration process without any issues and get your business set up to operate within Latvia as soon as possible.