Latvia

Latvian Company Formation

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Foreign investment in Latvia will be well rewarded by the country’s advantageous geographical location, liberal business environment and free-market economy. The Latvian government have implemented EU standards to bring the country up to date with EU directives and also offer a range of financial incentives for foreign investors. Company formation regulations and procedures have been streamlined, making the process easy to complete.

Universal Company Incorporations has the expertise in Latvian company incorporation to meet all your specific business requirements and objectives. We understand the needs of our clients and are focused on supporting your business with its global expansion.

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Further Information

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The number of company forms available in Latvia has been reduced from 15 to 5, making it easier for foreign investors to navigate the incorporation process. The remaining 5 provide a range of size, directorial requirements, and share capital amounts to suit all types of business. The four main types are:

  • Limited Liability Company (SIA)
  • Joint Stock Company (A/S)
  • Branch
  • Representative Office

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The Latvian government have introduced liberalism to the country’s business environment and are committed to a free-market economy. There are few restrictions on Latvian companies and property for foreign investors, and non-resident companies are only taxed on income earned in Latvia. Additionally, Latvia has a network of international treaties, and is a member of the WTO.

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Although not world class, the banking facilities in Latvia are comprehensive and advanced by Baltic standards. There is representation of the major international banks and the available facilities provide support for international business banking. Local banks are also established throughout the country, but these only offer facilities within the country.

Latvia does offer investment incentives, many supported by the EU, to encourage foreign investment. These include:

  • Tax credits for capital investment projects
  • Free ports and special economic zones
  • Tax relief for small enterprises

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The workforce in Latvia is young and motivated, and their drive has helped the country’s reform, producing the liberal business environment and free-market economy that investors can benefit from today. There is a high availability of staff and labour costs remain relatively low. Local recruitment agencies will help your business find the best staff for your business.

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