Company registration in Latvia

Latvia is a member state of the European Union. This Baltic country is popular among those who want to register their business outside the Russian Federation. In addition to the close location of Latvian territory to Russia, the requirements for opening companies here are minimal, and the registration process is simple and quick.

Facts about Latvia

The company "E-COMMERCE BROKER" provides services for company registration in Of Latvia. We will prepare all the necessary documents for the company registration, We will also provide further assistance support of business activities.

The State of Latvia is located in the northern part of Europe. It has borders with Russia, Estonia, Lithuania and the Republic of Belarus. The capital is Riga. They speak Latvian in Latvia.

Since 1922, a constitution has been in force here, therefore, this state is a parliamentary republic. Latvia is a member of the EU, WTO, and is a member of Schengen and the Euro zone.

State with good developed banking structure acts as a trade corridor between east and west. From point of view conducting international business, Latvia is a favorable country with loyal tax legislation.

Advantages of registering a company in Latvia

Popular legal form of conduct business activity in Latvia – SIA (limited liability company).  Tax advantages LLC registration in Latvia are in the following aspects:

  • corporate income tax is 20%. In this case, the tax is paid if the company made a distribution of profits or payments;
  • tax on retained earnings (for reinvestment) is 0%;
  • for micro-enterprises with an annual turnover of less than 40 Euros and a salary not exceeding 000 Euros, the fixed tax percentage is 720%. No payroll or income taxes are paid;
  • value added tax – 21% (for certain groups of goods and services the rate is 12% and 5%). If trade turnover is carried out within the European Union, then VAT is 0%.

    Latvia has concluded agreements with Russia, Belarus and Ukraine, as well as 61 other countries, that protect against double taxes.

Registration of a company in Latvia with “E-COMMERCE BROKER”

The E-COMMERCE BROKER company provides assistance in business registration in Republic of Latvia. Our employees will prepare a full package of necessary documentation and complete the transaction as quickly as possible. Register Your company with “E-COMMERCE BROKER” it will take only 5 days from the date of submission of documents. 

We will help open accounts in Latvian banks, We will select the most profitable and safe financial instruments, taking into account the specifics of your business. The range of services from the E-COMMERCE BROKER Company includes:

    1. Selection of a comfortable, inexpensive office for your company.
    2. Hiring and recruiting qualified personnel.
    3. Conducting accounting activities, making report.
    4. Management and control in relation to partner companies.
    5. Management of company employees.

Providing software for effective business.
Registration of licenses.

By contacting the E-COMMERCE BROKER Company, you can be sure that company registration in Latvia will be 100% successful. The cost of the service package depends on the financial performance of the company and is calculated individually for each client.

Company registration in Latvia

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Register a company in Estonia

Name of serviceService cost
Company registration, notary fees, legal services and government fees. € 950
Providing legal address, agent and secretary, annual registration fees€ 800
Nominee Directorfrom €790 per year
Nominee shareholderfrom € 490 per year
Preparation and submission of financial statements (from the second year)from € 70
Order fulfillment time3-5 working days.

Necessary information for registering a company in Latvia

Authorized capital

To register a company (SIA) in Latvia, you must deposit an authorized capital of 2800 Euro. The authorized capital may be paid in two installments within 1 year.

It is possible to open a company with a capital of 1 Euro.

The set of company documents includes: 

  1. Decision to establish a company;
  2. Company Charter;
  3. Extract from the Register of Enterprises.

Managment structure 

A member of the board and a shareholder can be one single person, either an individual or a legal entity, without reference to residency. For remote registration of a company, shareholders prepare and certify a special power of attorney to carry out the registration procedure; the director is required to agree to hold the position of a member of the company’s board, certified by an apostille.

Public information 

The name of the company, company identification number, legal address, information about members of the board, the size of the authorized capital, and financial statements of the company are publicly available data. The register does not contain information about shareholders, but it can be obtained from a notary.

Financial reporting and audit

Latvian companies must prepare and submit an annual financial report to the tax authority within six months after the end of the tax period. The tax period (fiscal year), as a rule, coincides with the calendar year, but you can determine it yourself by notifying the tax authority.

The cost of our services for preparing financial statements for a dormant company is EUR 300. The cost of reporting for an active company is calculated individually depending on the number of transactions performed on the bank account.

An audit is required when the following two conditions are met simultaneously:

  • The number of company employees is equal to or exceeds 30 people;
  • The balance sheet volume is equal to or exceeds 1 million euros;
  • The income or sales amount is 2 million euros or more;

or one of the conditions below:

  • Number of employees – 90 or more;
  • The balance sheet volume is equal to or greater than 3,5 million euros;
  • Income is 6 million euros or more.

Basic taxes 

The main tax advantage of Latvia is the absence of tax on retained earnings (0%). Thus, only dividends paid to shareholders and shareholders are subject to taxes. Tax on dividends paid is 20%. If the profit is derived from dividends of a subsidiary or foreign representative office of the company, then dividends paid to shareholders are exempt from taxes.

The standard VAT rate is 21%.

Order fulfillment time

Registration of a company in Latvia or re-registration of an existing company takes about 5 days from the moment the client provides all the necessary information and documents.

Company registration in Estonia

Capital - Tallinn.

Population - The population of Estonia is approximately 1,3 million people.

Political structure - Parliamentary republic.

Legal system - Estonia is a country of the Romano-Germanic legal system with its own distinctive features. The main legislative act of the country is the Constitution, adopted in 1992. A legal entity in Estonia is registered in accordance with the Commercial Code of 1995.

Infrastructure and economics

The share of the service sector in Estonia's GDP is 69%, industry - 29%, agriculture - 3%

Language - Estonian.

Currency - Euro (EUR).

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