Open company in:

Partner Law Firms
We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.
April 19, 2018
Tax Minimization Structures
BridgeWest is specialized in special corporate structures designed for tax minimization.
April 12, 2018
Buying a European shelf company with VAT number
Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.
April 12, 2018

Company Formation Latvia

Updated on Friday 20th April 2018

Rate this article
based on 2 reviews

Company incorporation in Latvia is quick, simple and implies low costs. When establishing a company in Latvia, there are a few steps that must be followed in order to benefit from a quick incorporation process. Any person or legal entity, national or foreigner, can be a director or a shareholder in a Latvian company. The company is required to have a registered office (BridgeWest offers this type of service).


The following steps must be followed for company registration in Latvia:

Firstly, the client must decide upon the name of the company, the shareholding structure and the business’ activities. Even if the business’ activities do not have to appear in the articles of association of the company, they will be required when the company will register for tax purposes. The client must also present identification documents such as passport copies, identification cards or driver license of both shareholders and directors and a recent utility bill or a bank statement as proof of residential address.

The following step for the incorporation of the Latvian company will be to draft the articles of association and other relevant documentation and, in case of representation during the registration process, a notarized power of attorney must be obtained.

The next stage will be to open a bank account. In order to do so, identification documents are required together with the application forms from the bank where the share capital will be deposited.

The last step will be to submit all the required documents that must be previously notarized by a public notary and translated by a Latvian translator. Once the registration certificate is issued, the company can start operating.


BridgeWest provides company formation in Latvia. Our assistance includes:

- drawing up the articles of association that can be signed through power of attorney (Latvian laws require power of attorney for any public notary proceedings);

-  drawing up documents for company incorporation in Latvia: specimen signatures, identification papers copies, application form required by the Latvian Company Registration Office;

- arranging public notary proceedings (all procedures for company incorporation are done in front of a Latvian public notary);

-  providing a registered office in Latvia on demand; the registered office serves as headquarters for the company in Latvia and it will be made public;

- setting up a bank account for the company in Latvia; BridgeWest will help in setting up the share capital bank account, as well as a current bank account once the company is incorporated.

- recommending a Latvian accountant, as accounting services are needed for new businesses in Latvia.


Types of companies in Latvia

- Latvian limited liability company (S.I.A. -Sabiedriba ar ierobežotu atbildibu) - The most popular business in Latvia is considered to be the limited liability company. The minimum share capital required is 2,000 LVL (approximately 2,900 EUR) and at least half of it must be paid in advance. A limited liability company in Latvia only needs a director and allows foreign shareholders.

- Latvian joint stock company (A.S.- Akciju sabiedriba) - The joint stock company in Latvia is used by larger businesses that want to gain public capital. The minimum amount of share capital must be 25,000 LVL (approximately 36,000 EUR) and it is required to be paid in advance. The joint stock company can transfer and trade its shares on the stock exchange.

- Latvian Branch, Subsidiary or Representative Office - Foreign companies are allowed to set up separate enterprises from the parent company, where the foreign company will be a shareholder in a Latvian company. Foreign companies can also open extensions of the parent company in Latvia.

Taxation in Latvia

The corporate tax in Latvia is 15%.

The standard VAT rate in Latvia is 21%, but reduced rates of 12% and 0% apply to certain products.

There is no dividend tax for companies in UE and EEA member states, while for the withholding taxes for other foreign companies, the rates vary between 5 and 15%. 

BridgeWest is also able to offer ready-made Latvian companies and VAT registration.

Please contact us for more information and prices.


There are no comments.

Please note that URLs are not allowed in the message.