Company Formation in Latvia
Europe
Overview
Latvia is an attractive destination for business relocation or expansion, offering a competitive taxation system, an educated workforce, and lower average salaries compared to Western Europe. As a full member of the European Union, Latvia has implemented significant tax reforms, including a 20% corporate income tax only on distributed profits, placing it highly in OECD tax competitiveness rankings. It boasts strategic geographical and logistical advantages, making it a prime choice for international company formation.
Our Process
Step 1: Document Preparation & Name Approval
Prepare all necessary incorporation documents and ensure your company name is unique and approved by the Enterprise Register.
Step 2: Capital Contribution & Registration
Contribute the required share capital and submit all documents for official registration with the Latvian Enterprise Register. This can often be done remotely via e-ID or Power of Attorney.
Step 3: VAT Registration & Bank Account Opening
If applicable, register for VAT (mandatory if annual turnover exceeds €40,000). Facilitate the opening of a corporate bank account, potentially with an international bank given local bank preferences.
Key Requirements
- Minimum 1 shareholder
- Minimum share capital (from 1 EUR for 'small capital' companies, or 2800 EUR for standard SIA)
- Registered local address