Latvia - Company Incorporation
The most common choice is a limited liability company (SIA), which is the most popular form of corporate presence in Latvia. email us for a quote
Registration requirements for Capital Companies
- General – it shall clearly and specifically differ from those of other companies, which have already been listed in either Register and it should not contain misleading information regarding commercial rights.
- Legal (registered) address – the legal address of a company shall be the address where the management of the company (headquarters) is located, and it shall be declared by company management for recording in the Register. As a result, all entities may consider that any correspondence sent to the registered office is received by the company.
All documents submitted have to be in the Latvian language, or with translations.
The foundation of each new merchant must be advertised in the official state gazette “Latvijas Vēstnesis” which publishes new legislation, as well as important information on merchants in Latvia.
Time Taken for Registration
In accordance with the law a 30 day term is set for review of the registration application, but in practice it takes less than 14 days
General Provisions for Capital Companies
A capital company is a commercial company, the share capital of which consists of the total sum of the par value of capital shares or stock. Capital companies are limited liability companies (LLC), which are private companies whose shares are not publicly tradable.
shareholders can be one or more legal entities or individuals.
Share Capital is paid up by monetary investment or in material assets and it must be expressed in whole LVL. Any intention to invest material assets has to be clearly stated in the foundation agreement or in the internal regulation on the increase of share capital, otherwise it must be paid up by monetary investment. Material assets cannot be invested in parts and they have to be valued by an expert listed and approved by the Register.
The minimum share capital for LLC's is set at LVL 2000 (€3000) and is divided into indivisible shares with the same par value. At least 50% of the share capital must be paid up by the date of the submission of the registration documents.