Company Registration: How to Start a Business in Latvia

Registration with the State Register (Commercial Register of the Republic of Latvia) is compulsory for doing business in Latvia. The company is only considered a legal person after it has been entered in the commercial register. After that, the company can legally do business and conduct the business.

Legal form of the company Founding documents Company formation 1. Legal form of the company Before founding a company, it is essential to assess and select the legally and economically most suitable form of company. This choice not only affects the amount of equity required, but also the legal form of the company and other business-related issues.

Foreign entrepreneurs usually register the following types of businesses:

Limited Liability Company (SIA); Public limited company (AS); Branch; Representation of foreign merchants

Baltic Legal will help to set up business in Latvia or open a branch or representative office. Our lawyers will assist you in preparation of incorporation documents and represent your interests in the competent state authorities.

2. Incorporation documents At the very beginning it is necessary to adopt a Decision on foundation. The decision on foundation might be equitable to Memorandum of Association in Western Europe countries. Secondly, Articles of Association should be drafted. According to Latvian Commercial Law, Articles of Association is most important document for company`s internal organization perspective which should be in line with the Decision on foundation and following records in the Commercial Register. It is necessary to pay the equity capital. The minimum of equity capital is EUR 2850 and it is not required to pay the entire equity capital at the moment of registration; the remaining sum might be paid within one year. Usually the founders open a temporary bank account in order to pay the equity capital. At this stage, the banks frequently ask questions related to the business and expected money flow in the account. Usually it is not problematic for foreigners to open a bank account, though Baltic Legal has supported the clients at this stage if necessary.

https://www.baltic-legal.com/latvia-company-formation-and-registration-eng.htm

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