Limited Liability Company
Limited Liability Company (LLC, Latvian - SIA) is a flexible form of enterprise that blends elements of partnership and corporate structures.
- Open a company in Latvia
- Business start-up procedure
- A Limited Liability Company in the Republic of Latvia
Open a company in Latvia
Main reasons to open a company in Latvia:
- the economy of Latvia is a free market economy, it is regulated by appropriate laws, protecting commercial rights, trademarks and investments;
- the requirements of the European Union are included in laws of Latvia;
- in Latvia there are no restrictions to or a different treatment of foreign investments and companies;
- cross-border trade is simple and it has no impediments, the state takes 15th place in this aspect;
- business start-up procedures are rather simple, within one week you may own a company;
- in accessibility of credit, Latvia takes 4th place;
Business start-up procedure
The minimum capital required to establish a Limited Liability Company is more than 2000 LVL (~ 2857 EUR) or, if a small capital enterprise, less than 2000 LVL (~ 2857 euros). Company is registered in Register of Enterprises. Following expenses should be included:
- Basic state fee - 100 LVL (145 EUR)
- Publication in Latvijas Vēstnesis - 19 LVL (30 EUR)
- Notary acknowledged signing of consent - 21 LVL (30 EUR)
- Bank account opening (optional) - 35 LVL (50 EUR)
- Our fee - 105 LVL (150 EUR)
- Total (including bank account) - 280 LVL (405 EUR)
Write us to register a company in Latvia.
NOTE: There is available fast registration document processing option - documents processed in one day. State fee for it is triple the amount of basic state fee - 300 LVL (435 EUR).
If bank account is necessity (when capital is greater than 2000 LVL) then additional expenses takes up to 35 LVL (50 EUR).
No restrictions regarding the citizenship of the company owners and the company heads may apply for the residence permits in Latvia.
A Limited Liability Company in Latvia
Limited Liability Company is the most widespread form of business in Latvia.
Latvian Limited Liability Company is not required to carry on activities in Latvia, thus all the company's activities can be outside Latvia. Bank account also can be opened in banks outside Latvia.
Limited Liability Company is owned by its members (shareholders) and managed by directors (members of board of directors). If directors manage company as good and diligent person, then directors assets are protected if the business fail (directors are not liable).
To get the Limited Liability Company, you must register it in governmental register (Register of Enterprises of the Republic of Latvia). After registration you receive certificate of registration, decision of governmental notary and certified articles of association. Also you get registration number of company. Even if you change name of company (firm), this number will stay the same.
Limited Liability Company cannot sell it shares on the stock market.
Shareholders of company are liable to creditors of the company only by capital invest in company. If company becomes insolvent, usually shareholders of the company loose money invested in company, but personal assets of shareholders are protected.