Latvia Company Formation |
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Latvia company formation assists our clients to legitimately conduct business in Latvia, the Baltic States and the European Union (EU). The following information will help you determine whether Latvia company formation is the optimum corporate structure to fulfill your international business objectives: |
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Advantages of Latvia Company Registration |
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| 2. | A minimum of one shareholder and one director is required for Latvia company formation. Corporate shareholders are permitted. Corporate directors are not permitted. The need for a resident director has been abolished. |
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| 4. | There is no withholding tax for companies registered in Latvia |
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| 5. | Latvia is positively ranked as the world's 24th easiest place to do business, according to a World Bank's Doing Business 2011 Survey. In addition, in the 2012 Index of Economic Freedom by the Heritage Foundation, Latvia ranks highly as having the world's 50th-freest economy, and scores at 80% in terms of investment freedom and capital flows. |
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| 6. | Latvia ranks a positive 48th on the United Nations Human Development Index for its high overall life expectancy, literacy, education and living standards. |
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| 7. | It is easy to open global corporate bank accounts to support Latvia company formation. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services. |
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Disadvantages of Latvia Company Registration |
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| 1. | The minimum registered share capital when incorporating a Latvia limited liability company is LVL 2,000 (US$3,620). This fee must be paid to the Latvian Registry of Companies prior to Latvia company formation. |
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| 2. | A Latvian company is subject to a corporate tax of 15% (one of the lowest in the EU). |
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| 3. | Tax reports must be submitted to the State Revenue Service, these can be monthly, quarterly or yearly depending on specific conditions. Annual financial statements must be submitted to the Latvian State Revenue Service after incorporating a company in Latvia. The accounts must be audited if the company exceeds two of three criteria: i) Euro 700,000 annual turnover, ii) Euro 350,000 in assets, iii) average of 25 employees during the year. |
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| 4. | All documents required and issued by the Latvian authorities is in Latvian. Documents in another language must be translated and some documents are required to be notarised before submitting to the authorities. |
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| 5. | Directors' details are available on a public register following Latvia company incorporation. |
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| 6. | The company does not issue share certificates and registration of the shareholders is recorded in the "Shareholders Register". |
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| 7. | Latvia negatively ranks as the 61st least corrupt country in the world, according to the 2011 Corruption Perceptions Index by Transparency International. |
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| Contact Us | |||||||||||||||||
| For more information on Latvia company formation, contact email@healyconsultants.com or telephone (+65) 6735 0120. | |||||||||||||||||
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