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Frequently Asked Questions about Latvia

The following are some of the most frequently asked questions about Latvia Company Formation:

How long does it take to incorporate a Latvia company?

How difficult is it to open a corporate bank account for a Latvia company?

Am I required to visit Latvia to incorporate a company there?

What is the minimum number of directors required for a Latvia company?

Is a resident director required?

What is the minimum number of shareholders required for a Latvia company?

Are shareholder/director details available for public viewing?

Can my company be 100% foreign owned?

What are the minimum capital requirements for a Latvia company?

Is a Latvia company required to submit an annual return and/or financial statements?

How much tax does a Latvia company pay?

Does a Latvia company benefit from double taxation treaties?

How long does it take to incorporate a Latvia company?
Setting up a company in Latvia can take up to 3 weeks, the majority of which is time for registering for VAT with the State Revenue Service.

How difficult is it to open a corporate bank account for a Latvia company?
It is very easy to open a corporate bank account with a reputable international bank in Latvia.

Am I required to visit Latvia to incorporate a company there?
No. Healy Consultants can legally incorporate your Latvia company without you needing to travel.

What is the minimum number of directors required for a Latvia company?
A Latvia company needs a minimum of one director.

Is a resident director required?
A resident director is required for Latvia company formation.

What is the minimum number of shareholders required for a Latvia company?
A Latvia company requires a minimum of one shareholder.

Are shareholder/director details available for public viewing?
Yes.

Can my company be 100% foreign owned?
100% foreign ownership is permitted with Latvia company formation.

What are the minimum capital requirements for a Latvia company?
A Latvia company requires a minimum share capital of LVL 2,000 (US$3,620).

Is a Latvia company required to submit an annual return and/or financial statements?
A Latvia company is obliged to submit an annual tax returns and audited financial statements. Monthly tax reports must be submitted to the State Revenue Service following Latvia company formation. Annual financial statements must be submitted to the Latvian State Revenue Service following Latvia company formation. The accounts must be audited if annual turnover exceeds US$380,000.

How much tax does a Latvia company pay?
A Latvia company is subject to a corporate tax of 15% and a withholding tax of 10%.

Does a Latvia company benefit from double taxation treaties?
A Latvian company can access the double taxation treaties Latvia has signed with countries including Canada, China, France, Germany, Ireland, Singapore, the UK and the US.

Contact Us

For more information on any of our Latvia corporate services, please e-mail email@healyconsultants.com or telephone us at (+65) 6735 0120.

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