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Company registration: how to start a business in Latvia?
Registration in the State Register (Commercial Register of the Republic of Latvia) is mandatory for doing business in Latvia. The company is only considered a legal entity after it has been entered in the commercial register. Thereafter, the company can lawfully transact and conduct business.
legal form of the company incorporation documents business start-up 1. Legal form of the company Before founding a company, the legally and economically most suitable form of company must be examined and selected. This choice affects not only the amount of equity required, but also the legal form of the company and other business-related issues.
Foreign entrepreneurs usually register the following types of companies:
Limited Liability Company (SIA); joint-stock company (AS); Branch; Representative office of the foreign merchant Baltic Legal helps with starting a business in Latvia or opening a branch or representative office. Our lawyers support you in the preparation of incorporation documents and represent your interests in dealings with the competent state authorities.
2. Incorporation Documents At the very beginning, a founding decision must be made. In Western European countries, the decision on incorporation can correspond to the incorporation deed. Second, statutes should be drafted. According to Latvian commercial law, the Articles of Association are the most important document for the internal organizational perspective of the company, which should be in accordance with the founding decision and the entries in the Commercial Register. Equity must be paid in. The minimum share capital is 2850 EUR and the entire share capital does not have to be paid up at the time of registration; the balance can be paid within one year. Usually, the founders open a temporary bank account to deposit the equity. At this stage, banks often ask questions about the deal and the expected flow of funds into the account. Normally there is no problem for foreigners to open a bank account, although Baltic Legal has assisted clients at this stage if needed.
https://www.baltic-legal.com/latvia-company-formation-and-registration-eng.htm
