COMPANY
IN LATVIA

Latvia is tempting foreign investors with its very liberal
legal and tax system and special economic zones.

Many entrepreneurs are encouraged by unfavourable legal and tax systems of their home countries to seek a more convenient environment for their business development. Due to geographical proximity, people running businesses in Central and Eastern Europe are usually interested in relocating their companies to the Czech Republic or Slovakia. However, the possibility of establishing a company in Latvia remains underestimated.

Latvia is open to foreign investors and those who own a Latvian company, provides an opportunity to obtain residency in their country. The significant incentives to set up a company in Latvia include the country’s very liberal legal and tax system and special economic zones for foreign investors. Latvia is currently ranked 23rd in the “Doing Business” ranking, and this is a high position for a country that has only recently undergone an economic transition.

World Map sign on glass skyscraper with mirrored sky illustratio

Why is it worth setting up a company in Latvia?

Establishing a company in Latvia is very quick and does not require a personal presence on site. It is possible to open a company in Latvia, including completing all the formalities, in up to 14 days. A company in Latvia can be established by granting a power of attorney to our lawyers at Thompson&Stein, and our specialists will conduct the entire process on your behalf.

Latvia’s most common forms of companies are limited liability companies (LLCs), open joint-stock companies (OJSCs), or entities using branches and on-site representation offices. The Latvian tax system is similar to the Estonian one, where it is not the profits themselves generated by companies each year that are taxed but transfers of dividends to shareholders.

Benefits of owning a company in Latvia:

No tax on dividends (if received from income subject to CIT)

20% CIT

21% VAT (reduced rates of 12% and 0%)

60 different treaties on avoiding double taxation

A company in Latvia – who is it for?

A company in Latvia is a good option for entrepreneurs operating in the following sectors:

Tourism

Investments

Real estate

Logistics and freight

Construction

Wood industry

IT and new technologies sector

Procedure for establishing a company in Latvia

BUSINESS

A company in Latvia without the need for you to be present on site. You grant a power of attorney to our lawyer; we handle all the paperwork for you. Everything you need to run a company in Latvia.

You sign an agreement with us

You grant a power of attorney allowing us to represent you in Latvia

We register the company in line with your instructions (its name, area of business activity, capital)

You receive a set of documents from us, including company agreement, registration card, confirmation of share purchase

Duration: up to 14 days

Scope of services offered to companies in Latvia

Thompson&Stein will provide your company in Latvia with:

COMPREHENSIVE HANDLING OF THE COMPANY REGISTRATION PROCESS

ACCOUNTING SERVICES

A REGISTERED SEAT (ADDRESS) FOR YOUR COMPANY

CORRESPONDENCE MANAGEMENT

ASSISTANCE IN OPENING A BANK ACCOUNT

SUPPORT AT EVERY STAGE of establishing and running a company in Latvia

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