Form of government:Parliamentary republic
Area:64 500 км2
Opening a company in Latvia
Before establishing a legal entity, it is important to evaluate and select the most appropriate type of company in terms of law and economics. This choice will affect not only the amount of share capital required, but also the legal status of the company and other business-related matters.
Advantages of a company in Latvia
- a European-level company that has been registered in the EU can legally trade with other market entities;
- income tax in the country is fixed - only 15%;
- Latvia has signed agreements on avoidance of double taxation with Ukraine and more than 50 states, incl. all CIS countries and most EU countries, which was another argument in favor of more profitable work. This allows you to minimize the payment of tax at source or not pay it at all. This implies a tax that is levied on payments such as interest, dividends, royalties and some others. In addition, it is possible to credit taxes that have been paid in other states;
- there is no currency control in the country (exchange, use of currency), the government does not control exports and imports, but business is actively encouraged;
- by attracting an influx of investments, the state guarantees companies an advantageous preferential treatment and benefits fixed in agreements on the protection and mutual encouragement of investments;
- you can use free ports, as well as special economic zones. To the above, it should be added that Latvia entered the TOP-10 countries where residents of the CIS would like to buy real estate, and getting a residence permit here is relatively easy and affordable in financial terms.
What is included in the price?
To acquire the company, the future owner concludes a contract of sale. When signing the document, the former owner must be present (if any) and a notary must be present to certify the contract. If there is no possibility or desire to personally travel to Latvia, you will need to issue a power of attorney and a number of other documents. By paying the amount as the cost of registering a company in Latvia, the owner receives:
- all constituent and legal documents;
- Latvian bank account (must be activated);
- legal and postal address of the company;
- apostille of documents and their translation;
- nominee service;
- state duty and notary fee
- made the official seal of the company.