Services available:


- Ultra-fast company transfer
- All clear - fixed cost - no surprises
- Easy - just pick the company and tell us when you coming
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 Fast banking

- Good relationship with most important banks
- Unlimited bank accounts - no caps/no limits
- Foreign bank accounts
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 Many Addresses

- Multiple address locations
- Virtual Office service
- Landlines
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- physical office arrangement/ staff recruitment & accounting
- tax inspection handling / EORI & GIOS
- WDL Trading / Energy / Electricity / Natural gas trading licenses
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The Republic of Latvia is a country situated in Northern Europe, in the Baltic Sea area. Along with Lithuania and Estonia, Latvia is one of the so-called Baltic States.

After the end of the World War I, on 18 November 1918, Latvia declared independence, which lasted until 1940, when as a result of the Molotov–Ribbentrop Pact it landed in the Soviet sphere of influence and its territory became occupied. Between 1940 and 1990, Latvian Socialist Soviet Republic existed. The country regained independence on 21 August 1991, joining NATO the same year. Latvia is also a member of the European Union, NATO, OSCE, the Baltic Assembly and the Council of the Baltic Sea States.

Latvia is not a typical offshore jurisdiction, thanks to which companies established here do not raise any suspicion among clients, counterparties or banks. Latvian government strongly focusses on attracting foreign entrepreneurs, offering them low tax rates and special economic zones.

Companies here are formed fast, in just three days, and the entire administrative system is constructed to be investor-friendly.

The official language is Latvian, but knowledge of Russian and English is commonplace. The official currency is EUR (from 2004).


Commercial companies law in Latvia is governed by the following acts:

  • The Latvian “Commercial Law”, entered into force on January 1, 2002,
  • The Latvian “Law on the Enterprise Register”, entered into force on,
  • The Latvian “Law on Annual Accounts”.

The most popular type of company formed in Latvia is Latvian Limited Liability Company - Sabiedriba ar ierobezotu atbildibu (SIA).

SIA have a simple structure, to form it you need only one shareholder, who may be a physical or a legal person, and one director (only a physical person) – they may be the same person. There are no limitations or restrictions on appointing non-residents to perform the functions of shareholders or directors. Optionally, a company may have a supervisory board, but this is not mandatory. A supervisory board has to consist of at least 3 people and they cannot be the same people who are appointed as board members.

From 2017, every company is required to employ at least one person, this may be the director. The person has to receive stable remuneration.

The minimum share capital amount is 2800 EUR, 50%of which should be paid prior to the registration process. A bank account is needed for this purpose.

Every company has to have an address in the territory of Latvia and a name different from the names of already existing entities. There is no obligation to have a registration agent, however, it is customary to use services of business consulting companies in this respect.

In the case a company has annual income exceeding 50 000 EUR or will sell its products in the territory of the EU, VAT registration is mandatory. VAT tax returns may be filed on a monthly, quarterly or six-month basis.

The most important managing body of a SIA is shareholders’ meeting, which has to be convened at least once a year to approve of annual financial statements, decide on distribution of profits and choose an auditor. Other competencies of a shareholders’ meeting are: changing Articles of Association, electing management and supervisory board members (if they are to be appointed), increasing or decreasing share capital.

All company documents have to be in Latvian, they may also have a bilingual, Latvian-English, version.

SIA may perform almost any type of business activity. Special licences are required only for performing activity of banks, insurance companies, brokerage companies and bonded warehouses.

Latvia is one of the countries with the lowest tax rates in Europe. Corporate income tax is 15% and for microenterprises (annual turnover below 100 000 EUR, and up to 5 employees with remuneration up to 720 EUR a month) it is 9%.

Personal income tax is 24%, VAT is 21%.

Tax on dividends paid out to a private person is 10%. Incomes on transfer of share or stock ownership are also exempt from taxation.

In Latvia, companies are under obligation to keep accounting books in accordance with the Latvian accountancy act. SIAs have to file audited annual financial statements.

Latvia is considered a developed country with one of the fastest-growing economies in Europe. Its GDP per capita is 12 326 EUR.

It is an industrial and agrarian country. An important element of the industry is the energy sector, with vast significance of water power plants (62%), woodworking, food industry, metalwork industry and mineral product processing. Economy is also based on trade, both wholesale and retail, transport and logistics, real estate trading.

Due to low inflation and stable situation on the labour market, society’s purchasing power is high.

In 1994, Latvia concluded a free trade agreement with Lithuania and Estonia, the countries are, alongside Germany and Russia, the main trade partners of Latvia.

Latvia is a parliamentary republic with a democratic system. On 27 January 1994, the constitution of 1922 (with amendments) was fully reinstated, and has been in force ever since.

The legislative power is exercised by a one-chamber parliament, elected for 4-year terms. The Saeima elects the president, who represents the country on the international arena, is the highest commander of the armed forces and also appoints and dismisses ambassadors.

The executive power is exercised by the Cabinet of Ministers chaired by the prime minister appointed by the president.

Latvia is a member of the European Union, NATO, World Trade Organisation and belongs to the Schengen Area.

Latvia has a well-developed banking system, meeting all European standards, and the assets deposited in accounts are safe.

Both local commercial banks (ABLV Bank, Rietumu Banka, Citadele Banka, Baltic International Bank, BlueOrange, Latvijas Pasta Banka, Expobank, Rigensis Bank, Bank M2M Europe, Meridian Trade Bank, Reģionāla investīciju banka) and foreign banks (Norvik Banka, DNB Banka, Swedbank, SEB banka, Privatbank, Svenska Handelsbanken, Danske Bank, Bigbank, OP Corporate Bank, Scania Finans Aktiebolag, Aktsiaselts Eesti Krediidipank, Nordea Bank) operate here.

Welcome message is one of the leading providers of ready made companies and special purpose vehicles (SPVs) as well as other investment structures delivering outstanding service at very reasonable prices and at highest speed. We have setup and sold hundreds of companies. Our company is considered trustworthy and reliable by our clients as well as by many professional law firms and tax advisers.

What is very unique in our style of operation is the fact that we have our ready made companies already registered in many various countries. All other providers have one address where they keep their shelf companies registered so that client wishing to buy more than one company with different address cannot be satisfied.

Many competitors may be offering lower prices however this always is at the expense of service and provided company quality. Our core activity is company formation and sale of ready made companies thus all members of our team have appropriate professional background. Our shelf companies are formed in accordance to all relevant laws and procedures by the team of qualified and experience professionals and lawyers. On the other hand the maintenance of our ready made companies is performed by licensed and proficient accountants and tax advisers. Therefore our clients can be sure that a shelf company they buy from us is clean, with no debts or tax issues, is formed professionally and its Articles of Association are of high quality.

Our main clients are private investors, traders, law, audit, accountancy and tax advisory firms as well as banks and investment funds. Throughout the years of activity Shelfcompanies24 has been enjoying the reputation of the fastest and most responsive shelf company provider.
Our ready made companies have been formed and maintained by our team. Therefore we always guarantee their quality and that they are debt free, with no trading history and consequently riskless to build new ventures on.

Our services do not finish on the sale of shelf companies or company formation. We provide also many other related and necessary services so that we can be treated as a one stop shop in a business setup in many countries. We are also experts in tailor made company formation as well as compliance and registering various changes within the company like director appointments and dismissals, company name change, share capital increase or decrease, company address change and many other issues.

We also provide tax and legal advisory services that are inevitably required by the businesses. We cooperate with many reputable tax and legal advisory firms whose services we can also recommend when the nature of the problem requires certain field specialist engagement.

For those clients who have a need to present their companies documents in foreign countries we provide apostille and translation services. After company sale documents can simply stay with us for the purpose of their apostille or legalisation and sworn translation to any desired language. This service is mainly required when there is a need to open a foreign bank account for a shelf company.

Furthermore we have agreements with many different accounting offices so that we are able to offer a wide choice of the particular accountant that will be dealing with client’s company. Also in case two or more of our clients are trading partners we can ensure that their books will be handled by separate and independent accountants.

Ultimately we can also support with a procedure of liquidation/bankruptcy of a company if a client wishes to withdraw their business presence. In this case we can either manage the process of liquidation or bankruptcy on client’s behalf or simply just dispose the assets and takeover the company so that the clients can enjoy fast exit.


  • The company delivered a ready-to-go business, with VAT and EU VAT registration. Paperwork and the whole re-registration process was handled efficiently. I recommend this to anyone looking for a no-hassle company acquisition.

    Lionel Ronald

  • Company name of your choice? Check. Accounting services? Check. Help with tax authorities? Check. Finding a translator? Check. What can I say, these people are great and can help you with just anything.

    Sarah Duke

  • We needed to start building our presence in Poland fast, and a ready-made company seemed like the best option. We got presented with several location choices, picked the company name, signed some paperwork and were good to go. We got a company that was VAT-registered, with multiple bank accounts, just as we wanted.

    Jon Kim

  • Thank you for all the help. Your after-sale support is what sets you apart from the competition. It was important for me to get comprehensive company services at one place, with accounting, banking, tax issues handled for me, etc. I got everything I needed.

    Garret Lopez

  • I really recommend this website if you are looking for a shelf company in Poland. The companies are already registered, with no history and all documentation in place. This is really a great solution if you want to start your business ASAP. And the range of available post-sale services is just amazing.

    Francis Klein

  • Thank you for your support! Your advice was invaluable. Polish tax and legal provisions can really be a pain in the neck, but with your help I am able to get going.

    Eugene Syracuse

  • Not only did we need a new company, but also someone to take care of our accounting and compliance. Now, we must say ShelfCompanies24 helped us to transition smoothly into the Polish market. Good work, guys!

    Samantha Earthling

  • The company indeed delivers what it promises. I was able to start business in less than no time, with all the formalities taken care of by a super nice team of people. This is a good stop if you want a ready-made company operating in Poland.

    John Mathews

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Our Team

Tomasz Bielski


Tomasz has graduated from Warsaw School of Economics. His specialization was Finance. Tom supervises the whole business activity of and manages all company’s affairs.

Anna Modlinska

Company Formation Specialist

Anna has graduated from Cracow University of Economics as well as Lazarski School of Law. At Anna is responsible for company formation, shelf companies, foreign bank accounts and customer service.

Piotr Walter


Piotr is a graduate of Law Faculty at University of Gdańsk. He is also an attorney. At Piotr takes care of compliance, company registry issues and company formation.

Aleksandra Kowalska

Corporate Client
Service Specialist

Aleksandra has completed a master degree in law at Kozminski University in Warsaw. At Aleksandra is responsible for customer service, logistics as well as relationships with the banks.

Julia Thompson

Corporate Client
Service Specialist

Julia is a graduate of Faculty of Law and Administration at Jagielonian University in Cracow and College of Law at Florida State University. At Julia is responsible for company formation in various countries and taxation issues.