Latvian Offshore Company Formation

Latvia Limited Liability Company

The Limited Liability Company is the most common business vehicle in Latvia. A minimum share capital of LVL2,000 is required, at least half of which must be paid up.

Limited Liability Companies must have at least one director; there are no restrictions on foreign shareholders. Accounts must be maintained in line with statutory requirements.

Documents needing to be filed with the Registrar include:

• An application to register;
• The Memorandum and Articles of Association;
• Notice from a bank regarding the payment of equity capital;
• If property contributions are made, the document certifying the value of each such contribution;
• Notarised specimen of signatures of the members of the Board of Directors, where relevant;
• Notice of the Board of Directors of the company’s registered office;
• Receipt confirming the state fee payment (LVL100) for recording the limited liability company in the Commercial Register;
• Receipt confirming payment (LVL24) for the announcement in the official newspaper Latvijas Vestnesis.

Latvia Joint Stock Company

The Joint Stock Company is a popular vehicle for larger companies looking to raise public capital. A minimum share capital of LVL25,000 is required, and must be fully paid up before registration. A Joint Stock Company is a public company, the stocks of which may be publicly tradable objects.

Accounts must be audited and filed with the authorities.

Documents needing to be filed with the Registrar include:

• An application to register;
• The Memorandum and Articles of Association;
• Notice from the bank regarding the payment of the stock capital;
• Notarised specimen of signatures of the members of the Board of Directors, where relevant;
• Notice of the Board of Directors of the company’s registered office;
• Receipt confirming the state fee payment (LVL250) for recording the joint stock company in the Commercial Register;
• Receipt confirming payment (LVL24) for the announcement in the official newspaper Latvijas Vestnesis.
  
  

Latvia General Partnership

A General Partnership is a company in which two or more partners operate under a common business name, and are united on the basis of the company agreement. A natural person or legal person may be a member of the partnership. All partners are jointly liable for the obligations of the General Partnership with all of their assets.

Documents needing to be filed with the Registrar include:

• An application to register;
• Notarised sample signatures of those members of the General Partnership who are authorised to represent the company;
• Receipt for the payment of the state fee (LVL100) for recording of the General Partnership in the Commercial Register;
• Receipt confirming payment (LVL24) for the announcement in the official newspaper Latvijas Vestnesis.
  
  

Latvia Limited Partnership

A Limited Partnership is a company in which two or more partners operate under a common business name. A natural person or legal person may be a member of the partnership. At least one partner is liable for the obligations of the Limited Partnership with all of his, her, or its assets, while the liability of the remaining personally liable partners is not limited.

Documents needing to be filed with the Registrar include:

• An application to register;
• Notarised sample signatures of those members of the Limited Partnership who are authorised to represent the company;
• Receipt for the payment of the state fee (LVL100) for recording of the Limited Partnership in the Commercial Register;
• Receipt confirming payment (LVL24) for the announcement in the official newspaper Latvijas Vestnesis.
  
  

Latvia Branches and Representative Offices

Foreign-owned branches are taxed at the same rate as Latvian companies; reporting and audit requirements are also the same as for Latvian companies. Profits can be repatriated without withholding tax, and dividends transferred abroad are subject to 10% withholding tax. Documents needing to be filed with the Registrar include:

• An application to register;
• Receipt for the payment of the state fee (LVL20) for recording the branch in the Commercial Register;
• Receipt confirming payment (LVL16) for the announcement in the official newspaper Latvijas Vestnesis.

Representative offices cannot trade or do business in Latvia, and are only allowed to advertise and promote their company. They are regarded as an effective and low-cost means for establishing a presence in Latvia. Documents needing to be filed with the Registrar include:

• An application to register;
• The Memorandum and Articles of Association of the parent company;
• The foreign registration certificate of the parent company;
• An authorised decision of the parent company to establish the registered office in Latvia;
• An authorised decision appointing the head of the registered office;
• A document (passport, lease agreement) confirming the legal address of the registered office;
• A notarised signature sample of the head of the registered office;
• A copy of the registered office head's passport.
• Receipt for the payment of the state fee (LVL20) for recording the registered office in the Commercial Register;
• Receipt confirming payment (LVL16) for the announcement in the official newspaper Latvijas Vestnesis.

source lowtax.net

Contact us about starting a Latvia Offshore Company