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Latvia Company Formation

offshore company registration in Latvia

Capital: Riga

Official languages: Latvian

Currency: Euro

Latvia Overview

Latvia is a country located in the Baltic Region of Northern Europe. Its capital is Riga and the local currency is Euro. Its economical power is shown by a GDP growth among the highest in Europe. This country is a leading member of the World Trade Organization since 1999; all medium, big and small companies in Latvia are mostly private and play an important role in the growth of the nation.

Foreigners are attracted to both large and small scale Latvia offshore company formation investments, starting a business in Latvia is a secure investment due to its flourishing economy and friendly business environment. A company operating in this jurisdiction can be an effective European intermediary for trade between Eastern and Western “Russian speaking” nations.

Note: the corporate tax is one of the lowest in Europe, just 15%.

Key Features of Latvia Company Formation

  • Shelf-companies with VAT available
  • Share capital should be at least 2800 Euro
  • At least 1 shareholder and 1 board member
  • Attractive geographic position , well connected to the rest of Europe and CIS countries
  • Low tax regime

Company types in Latvia

1. Limited Liability Company

One of the most popular forms of company registration in Latvia is SIA. Investors can get access to an easy business registration and VAT application process taking advantage of a corporate tax rate currently around 15% on trading income and enjoying a wide range of double taxation treaties.

2. Holding Company

The special holding regime was recently introduced in 2013. As opposite to other “holding jurisdictions”, such as Austria and Netherlands, Latvia doesn’t lavish any requirements to holding organizations for holding periods or taxation. 0% tax on dividends is enjoyed by such organizations from non-resident companies, no capital gains from the sales of shares and double tax treaties with several countries

3. Micro-Enterprises

Micro-enterprises are classed under standard limited liability companies with a special taxation: just 9% on annual turnover. Such companies are mostly services providers and work with services organizations for example: marketing analysis, research, paper work etc. They can turn into regular entities and register for VAT.

A company is considered a micro-enterprise when:

  • The annual turnover does not exceed LVL 70,000
  • The company employs no more than 5 employees
  • Directors and shareholders are natural persons
  • The retribution agreed to employees does not exceed LVL 500 per month

Incorporation Requirements:

Latvia offshore company formation involves a registration on the state registry (Commercial Registry of Republic of Latvia). Afterwards, the newco is considered a legal entity, authorized to trade

  • The minimum share capital is 2846 Euro, 50% must be paid up
  • Registered address: no P.O Box allowed
  • A visit to Latvia is required to open a bank account
  • 15 business days are the average timeframe for a VAT number
  • The registration application must be filed electronically if it is signed by secure electronic signature.

Latvia Offshore Incorporation

Setting up a foreign business requires right planning and an expert Latvia offshore company formation agency. GR Morgan Formations is a renowned provider for your company setup in Latvia. We offer a wide range of company setup services including accounting, assistance with bank accounts and domiciliation. Regardless of the entity chosen, complete business support is offered at fair prices.

Get in touch with our team for more details on starting an offshore incorporation in Latvia.

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