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Registering a company in Latvia in 2020

Main advantages of doing business in Latvia are:

  • A favorable geographical location;
  • The ability to exit the EU market;
  • Low tax rates;
  • The presence of agreements on the avoidance of double taxation;
  • A high level of confidentiality.

A business registration costs from 1350 €

A duration of registration is from 7 days

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The Republic of Latvia is a unitary state located in the Northern Europe. Latvia is a member of such international organizations as: the EU, the Council of Europe, the IMF, the WTO, and others.

Latvia's accession to the European Union has allowed expanding and establishing trade relations with European countries, especially Germany, Sweden, and Great Britain.

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Owing to this, registering a company in Latvia will be a favorable option for entrepreneurs interested in conducting international business.

Business advantages

Setting up a company in Latvia is a good idea for the following reasons:

  • A good reputation of the country;
  • An advantageous geographical location;
  • Skilled Russian-speaking workforce;
  • An open market economy;
  • The lowest tax rates in Europe;
  • The anonymity of company shareholders and banking secrecy;
  • Free movement within the EU (Latvia is a member of the Schengen Agreement);
  • Double taxation agreements signed with other countries.
Legal forms

The most common legal form is a limited liability organization (Sabiedrība ar ierobežotu atbildību – SIA).

The main advantages of such a company are the following:

  • The possibility of opening branches of the company in other states;
  • SIA can be transformed into a joint-stock company, merge with another company or create a subsidiary;
  • Even a non-resident (individual or legal entity) can register a Latvian company;
  • Minimum share capital: from 1 EUR;
  • All Latvian companies are required to accounting and submitting reports;
  • Partner's liability is limited to each share (individually).
Tax rates

In order to set a company in Latvia, you should consider its tax system:

  • Income tax is 15%;
  • The tax on capital gains is 15%; if certain conditions are met, it can be reduced to 0%;
  • The standard VAT rate is 21%, if certain conditions are met, it can be reduced to 0%.
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If you are intended to register a company in Latvia remotely and open an account in Latvian bank, we recommend you to receive a qualified advice from IQ lawyers. Also, we will provide you with a legal support at all stages of creating a business abroad.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.


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