Frequently Asked Questions

Company formation in Latvia

 

Who can establish a company in Latvia?

A company in Latvia can be established by one or more private or legal persons. These persons can be both residents and non-residents of Latvia. There are no restrictions for foreigners to establish and own a company in Latvia. The minimum age for private persons to establish and/or own a Latvian company is 18 years.

How can I make the payment for the company?

You can make the payment by bank transfer or by cash.

How much time does it take to register a company in Latvia?

Standard registration process takes 5 working days, e.g., if registration documents submitted on Monday, the company is registered on Friday. There is a possibility to register a company during 3 days for higher fee.

How much time does it take to transfer the company to the new owner?

Standard process of registration of changes in shareholders takes 5 working days, e.g., if registration documents submitted on Monday, the change in shareholders is registered on Friday. There is a possibility to register changes in shareholders during 3 working days for higher fee.

Can a foreigner have 100% ownership of Latvian company?

Yes. There are no legal restrictions for foreigners to own Latvian companies.

What is the minimal share capital?

Standard minimal share capital a limited liability company in Latvia is EUR 2,800. It is possible to pay in 50% of the share capital before the submission of the company’s registration documents to the Latvian Enterprise Register, while the remaining part must be paid within one year. The share capital can be paid both in cash and through property investment.

 

If a company has one shareholder who is a private person the minimal share capital is EUR 1. If a company has several founders who all are private persons – the minimal share capital is equal with the number of founders, e.g., 2 founders – EUR 2, 3 founders – EUR 3.

 

A company with the small share capital should meet all of the following criteria:

1) The Company is established only by private persons (not more than 5);

2) The Company’s Management Board (board members) may be only the shareholders (one or more);

3) The founders of the company may not own another company whose registered and paid in share capital is less than EUR 2,800.

Legal address

What is business address and why do I need it?

Business address (legal address) is address that is publicly available and is a place where a company’s Board can be contacted. The legal address is one of the items that should be included in company registration documents. In addition, a written consent of the property owner to should be submitted a part of company registration documents package.

Do I receive back money for legal address rent if I want to terminate contract before its maturity?

No. Repayment of prepaid rent requires time on making changes in the accounting and costs us money. Therefore, we do not return money in case of termination of the contract. It is possible to terminate agreement by informing us in writing at least 2 months in advance. In this case, we will return guarantee deposit. We do not repay prepaid rent.


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