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Overview
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 |
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Company Incorporation |
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Local secretary |
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Government fees |
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Registered office for 1 year |
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Delivery of original documents |
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Apostilled documents |
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Nominee director and shareholder |
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Total amount: |
€2,300 |
€3,000 |
€4,000 |
Comprehensive Guide to Company Incorporation
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.