Shelf Company in Latvia

A well-known way to invest in Latvia is to start a business by setting up a new company. Even though many entrepreneurs choose to incorporate brand new companies, ensuring all their company's needs are met, the easiest and quickest way to start business is to acquire a shelf company. An "off-the-shelf" company or readymade company is a business entity already incorporated in Latvia. It easy to acquire, all that is needed is a share transfer.

Latvian shelf companies can be aged, selling for a higher price and brand new or with previous activity. The brand new Latvian shelf company has never been engaged in commercial activities, and it is probably the best way to go, when safety is the most important issue for an entrepreneur. However, companies that have been engaged in commercial activities may have gained trust and have already established relationships with important clients. All that is required is a thorough documentation.

The future shareholder is advised to conduct a thorough documentation on the company to buy, and verify the tax and accounting fillings, any possible debts left unpaid, previous activities and assets in order to be aware of the problems that can immerge.

Acquiring any Latvian shelf company is done after establishment of the price by the simple process of share transfer. The share transfer requires different documents, mostly identification documents on the buyer, who can be legal entity or natural person. An important step in transferring the shares represents the Share Transfer Agreement, which must be signed by both parties, and authenticated by a notary. After this process, the new shareholder is free to commence modifying the company and adapting its structure. The new managing board must be registered, as well as the new company name, address, object of activity, bank representatives and any other changes the new shareholder wishes to make. All of these changes must be registered with The Enterprise Register of the Republic of Latvia.

Although the process of acquiring a Latvian shelf company may seem similar to setting up a brand new company, it is easier and the biggest advantage represents the immediate commencement of business. Also there are plenty of shelf companies to choose from, and entrepreneurs can opt for the best suited for their business.

BridgeWest is able to offer VAT-registered Latvian shelf companies headquartered in Latvian major cities per the requirements of the clients.

BridgeWest offers advice on how to start a company in Latvia, including virtual office and other related services.