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Company registration in Latvia
- Price:3500 EUR
- Term:10 days
Latvia is a Baltic state with special economic zones, seaports, business parks and extensive opportunities for various trade routes (land, land, air).
The jurisdiction adheres to all international business standards, focuses on transparent activities, the exchange of tax information and the fight against money laundering. This is what allows Latvia to maintain the status of a “white” jurisdiction for many years.
The Latvian region is attractive for creating holdings, IT companies, consulting business, trading activities, shipping, securities trading, international logistics, marketing and financial services. The tax system of the country allows you to enjoy reduced rates and minimize the tax burden.
- identification of the client according to the KYC procedure
- registration procedures
- payment of the registration fee
- services of a legal address for a year
- preparation of a package of corporate documents
- legal and tax advice
- one courier delivery
- verification of the company's compliance with all compliance and KYC criteria
- legal support of the company
- services of a legal address for a year
- legal and tax advice
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Latvia has never been recognized as an offshore, it has the status of a transparent jurisdiction
- 2Favorable geographic location for trade with the EU and the CIS
- 3 Undistributed profit of the enterprise is exempt from taxation
- 4Micro-companies are eligible for reduced income tax
- 5Availability of free economic zones with tax deductions
- 6Dividends not received from an offshore company are not subject to taxation
- 7Suitable for business relocation and opening a real office
- 8Opening a company in Latvia is possible without a personal visit to the country
- 9Non-residents can buy an operating company in Latvia
When registering a company in Latvia, it is necessary to take into account the peculiarities of its tax system. The jurisdiction has a territorial principle of taxation. Corporate tax is not paid by non-resident companies that do not distribute profits. Moreover, with retained earnings, tax exemption also applies to passive income, including income from the sale of assets, real estate, etc.
If the company is resident or the profit is distributed as dividends, a tax rate of 20% (or 25% of net) is applied.
Small (micro) enterprises can qualify for a reduced corporate tax of 15% if their turnover is up to 100 000 EUR/year and the staff does not exceed 5 people.
Registration of an offshore company in Latvia is not allowed, but this does not make the country less attractive. Several Free Economic Zones and Free Ports operate in Latvia, which allow optimizing taxes and simplifying customs transportation. A feature of these zones is the receipt from the Regulator of a special permissive license for activities. The tax deduction in the FEZ zone is up to 80%.
Latvian VAT has its advantages: it does not apply to imports of goods from third countries and exports to EU countries. Mandatory registration as a VAT payer is established when the annual income from trading operations exceeds 50 000 EUR.
Registration of an enterprise in Latvia is possible in the following organizational and legal forms: a private entrepreneur, a joint-stock company, a partnership, a limited liability company, a branch, a charitable organization.
In order to conduct foreign business, a Limited Liability Company - SIA is used.
- Capital – the minimum amount is set at 2800 EUR. At least 50% must be paid before the incorporation procedure, the rest - during the first year of operation. It is possible to register a company in Latvia with less capital (subject to conditions).
- Founder - at least one private or corporate person of any residency.
- Board - to manage the company, a board is appointed, which must consist of at least one individual or company, without reference to residency.
- Secretary - Appointment is optional.
- The register of beneficiaries is public.
- Accessible information - about the name, legal address, amount of authorized capital, founders and beneficiaries.
- Substance requirements - in order to obtain a VAT number and open a local bank account, you need an office, employees, activities within the country.
- Legal address - it is obligatory to have a local address in Latvia.
Regardless of whether the company has carried out activities in Latvia or not, it is obliged to prepare an annual financial report and keep accounting records. Moreover, companies that meet two criteria from the list are subject to audit requirements:
- turnover over 800 000 EUR/year;
- the value of the assets exceeds 400 000 EUR;
- the staff accrues more than 25 employees.
- 3 desired company names
- description of directions of work of the future company
- national and foreign passports of the founder and members of the board of the company
- confirmation of the founder's registration address (eg utility bill)
- confirmation of the address of registration of each member of the board (eg utility bill)