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Register a company in Latvia
Company incorporation, bank accounts, accounting services in Latvia
Registration packages
Services
Essential
Standard
Premium
Company registration (SIA)
Annual registered address
Notary services and company seal
Corporate bank account
Accounting services
Start your company in Latvia
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How you can register a company in Latvia with us
Submit shareholder and director information to our firm with a signed power of attorney
Settle a payment for registration and banking assistance
Receive corporate documentation of the registered company and access to the corporate bank account of your company
Key details about Latvia
Latvia is located in Eastern Europe and has a territory of 64,589 square kilometers. Latvia borders Lithuania, Estonia and Belarus and has access to the Baltic Sea, which allows it to establish maritime trade Baltic states and Scandinavian states, as well as with Poland, Germany and a few other Western Europe states. Latvia has a population of 1,9 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 0% if profits are not distributed, otherwise the standard tax rate - 20%. Tax returns are filed on a monthly basis. Advance income tax payments are made on a monthly basis
- Dividend withholding tax - 20%
- Interest withholding tax - 0%
- Royalties withholding tax - 0%
- Capital gains tax - 3%
- VAT - Standard tax rate 21% or reduced rates from 0% up to 12% or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - 15%.
The following are the most common types of companies to incorporate a company in Latvia as:
- Limited liability company (Sabiedrība ar ierobežotu atbildību - SIA)
- Public limited company (Akciju sabiedrība - AS)
- General partnership (Pilnsabiedrība - PS)
- Limited partnership (Komandītsabiedrība - KS)
- European company (Societas Europea)
- Branch office (Filiāle).
- Individuals or legal entities that are intending to register a company in Latvia can be resident or non-resident in Latvia.
- A resident or a non-resident individual can be a company director in Latvia. It is not required to set up a company in Latvia with a resident individual as one of its shareholders or directors.
- At least 1 shareholder is required in order to register a company in Latvia if such company is incorporated as a SIA (a limited liability company). An individual shareholder can simultaneously become a director of this company.
- It is not required to create substance (resident employees, office space) in Latvia in order to establish a company in Latvia or to conduct business in the country.
- Minimum share capital that is required in order to start a company in Latvia as a SIA (a limited liability company) is EUR 2,800.
- SIA registration takes between 12 and 15 business days with the bank account taking up to 10 business days.
- Details of company founders, shareholders and directors after company registration in Latvia is complete is publicly available in the state corporate register.
- With our service you can register a company in Latvia completely remotely upon a power of attorney.
Official currency of Latvia is euro (EUR).
Latvia's GDP in 2017-2018 grew by 6,4% and amounted to USD 34.85 billion.
Latvian economy is based on service sector, including logistics, IT and financial services, as well as construction and wood-processing industry. Travel industry is also developing in the state.
Latvia's GDP in 2017-2018 grew by 6,4% and amounted to USD 34.85 billion.
Latvian economy is based on service sector, including logistics, IT and financial services, as well as construction and wood-processing industry. Travel industry is also developing in the state.
Foreign entrepreneurs expand to Latvia and seek to incorporate a company in Latvia in order to conduct business in the following sectors:
- wholesale and retail trading
- logistics
- IT
- food industry
- industrial production.
Benefits of registering a company in Latvia
- Business climate
- Access to EU markets
- Open economy
- Licenses for crypto business
- Highly-developed infrastructure
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
- Low inflation rate
Tax incentives- Corporate income tax rate is 0%, if profits are not distributed
- Double tax treaties with several jurisdictions
Ease of doing business- Companies can be opened completely remotely
- No foreign exchange controls
Register your company in Latvia
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