COMPANY REGISTRATION IN LATVIA

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Latvia is an attractive jurisdiction among foreign investors due to its perfect location in the heart of Europe and possibilities to obtain a residence permit in Latvia. The number of companies set up by non-EU residents, including CIS citizens, is growing every year. According to the latest changes in the Latvian legislation, the incorporation process was simplified while investors were allowed to get a residence permit by registering a company.

Company Registration in Latvia – Prices

Basic

499
  • Company registration, including payment of fees
  • Set of registration documents with translation
  • Notary services
  • Remote opening
  • Registration in the Commercial Register
  • Stamp of the company

Standard

999
  • Company registration, including payment of fees
  • Set of registration documents with translation
  • Notary services
  • Remote opening
  • Registration in the Commercial Register
  • Stamp of the company
  • Legal address

Premium

1299
  • Company registration, including payment of fees
  • Set of registration documents with translation
  • Notary services
  • Remote opening
  • Registration in the Commercial Register
  • Stamp of the company
  • Legal address
  • Opening a bank account in a Latvian bank

Premium+

1599
  • Company registration, including payment of fees
  • Set of registration documents with translation
  • Notary services
  • Remote opening
  • Registration in the Commercial Register
  • Stamp of the company
  • Legal address
  • Opening a bank account in a Latvian bank
  • VAT number

* package prices are indicated for the registration of a company with an authorized capital of 1 euro to 2,779 euros, and excluding VAT

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Corporate income tax

Latvian companies, which do not distribute profit, are exempt from the corporate income tax for the period from January 1 to December 31. If a company decides to distribute profits in favor of founders, the tax rises to 25%. The tax payable is formed as follows: a Latvian company is obliged to submit an annual financial report to the tax service of Latvia. The financial report summarizes the revenues, costs and expenses incurred during a specified period. The deadline for the annual report is usually within four months from the end of the company’s financial year (usually until April 30). After the report is submitted and profit is calculated, company’s participants decide whether to distribute profits and pay taxes or dispose a reinvestment.

The Value Added Tax (VAT)

Companies registered in Latvia have the right to receive VAT payer status in the Latvian tax service in two cases:<

  • In case the turnover of the Latvian company has exceeded or will soon exceed 40000 EUR for the past 12 months.
  • If a Latvian company plans to cooperate with companies registered in other EU countries.

Depending on the type of transaction, provided that the Latvian company has a VAT number, different tax rates are applied:

  • Transaction between Latvian company and natural person from the EU (including citizens of Latvia) – 21%
  • Transaction between a Latvian company