Taurus Legal Group

Shelf Companies in Latvia

Explore the Benefits of Setting Up Your Business in Latvia with Taurus Legal Group

Launching a business in Latvia is easy with Taurus Legal Group. Our pre-registered shelf companies are fully compliant and come without prior obligations, allowing you to begin operations immediately. We provide tailored guidance to ensure that your business setup is smooth and successful, giving you a head start in the Latvian market.

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Forms of Legal and Business Presence

If you intend to establish your presence in Latvia, you can easily do so through one of the following forms:

Limited Liability Company (LLC):

An organization where the liability of shareholders is limited to the value of their investments. The statutory capital of this enterprise must be at least 2,800 euros, with 50% payable during establishment.

Joint Stock Company (JSC):

A more advanced form primarily designed for fundraising and accessing stock markets. Shares of this enterprise can be freely transferred. The minimum statutory capital of this vehicle is 35,000 euros.

General Partnership:

A formation that is not a legal entity and can be formed by a minimum of two individuals who bear joint and several liability for all partnership activities.

Limited Partnership:

Similar to the previous one, this type of partnership is not a legal entity and can be formed by (i) at least one partner with unlimited liability for the partnership's commercial activities and (ii) at least one partner whose liability is limited to the amount of their contribution.

Branch:

A commercial establishment of a foreign company engaging in the same activities. Registration is required in this case.

Representation:

This formation lacks separate legal personality and cannot conduct business in Latvia. It is primarily intended for exploring local commercial opportunities and promoting non-resident entities in Latvia.

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Registration Requirements and Process

To register a company in Latvia, you need to go through the following preliminary steps:

Drafting your business plan with specific commercial objectives to achieve in this country and/or globally.
Gathering data about founders, beneficiaries, owners, and future management of the potential vehicle.
Organizing the registered office of the future legal entity.
Contributing the statutory capital amount.
Drafting Memorandum and Articles of Association.
Submitting the required document package to the Enterprise Register.
Registering for tax and social security purposes.
Opening a corporate bank account.
Obtaining licenses and permits (if required).

Legal Framework

The Latvian legal system is fully aligned with EU approaches, ensuring a relatively fast process for setting up and operating companies. The main local state bodies to deal with during company registration and operation include the Enterprise Register, State Revenue Service, Financial and Capital Market Commission, and Investment and Development Agency of Latvia. Other local authorities may be involved if specific licenses are required for actual business commencement.

Jurisdiction Advantages

Registering a business in Latvia can be promising due to the following potential advantages:

  • Well-developed financial sector, information technology, transportation, tourism, and real estate sectors.
  • Numerous tax incentives.
  • Strong protection of intellectual property rights.
  • Qualified local workforce.

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Tax System in Latvia

If you’re considering opening a company in Latvia, you may need to be aware of the following tax peculiarities in this jurisdiction:

20%

Corporate tax

31%

Personal tax

21%

VAT

1

Corporate Income Tax (CIT) rate:

20% (payable only upon profit distribution).

2

Personal Income Tax rate: 

31%.

3

Value Added Tax (VAT) rate: 

21%.

4

Withholding tax rates: 

(1) general for non-residents: (i) dividends – 0%, (ii) interest – 0%, (iii) royalties – 0%; (2) for non-residents in tax havens: (i) dividends – 20%, (ii) interest – 20%, (iii) royalties – 20%.

5

Capital gains tax rates: 

(i) corporate – equals the standard corporate income tax rate, (ii) individual – 20%.

Conclusion

Don’t miss out on the chance to establish your presence in a thriving economy with favorable tax conditions and robust legal protections. Contact us today to explore our portfolio of ready-made companies and take the first step towards your entrepreneurial success in Latvia.

Invest in Latvia with Taurus Legal Group and unlock the door to endless possibilities. Your future begins here.

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Ready to embark on your business journey?

Choose Taurus Legal Group for reliable, hassle-free, and cost-effective ready-made company solutions. Get in touch with us today to learn more!