Company formation Latvia
Latvian Limited Liability Company - Sabiedriba ar ierobezotu atbildibu (SIA)
One of the main advantages of setting up companies in Latvia is the tax system which guarantees tax rates much lower than in most European Union countries and a transparent legal and tax system, thanks to which doing business here is simple and enjoyable. Companies in Latvia are registered quickly and communication with public authorities is efficient.
SIA is not an offshore company, thanks to which the companies are favourably regarded by counterparties and clients, and using them is not associated with attempts to „escape” taxation.
SIA have a simple structure, to form them you only need one person who may perform the function of the director and a shareholder. A shareholder may be also a legal person, including foreign legal person. In Latvia, information on shareholders and directors appears in the business register, so we recommend those companies to people focused on reducing taxation and not on protecting privacy, especially taking into account the fact that the country’s legal system does not regulate trust activities.
In Latvia, in contrast to offshore jurisdictions, you pay only a one-time fee for company registration, there is no obligation to pay fixed annual fees.
Latvia has double taxation agreements with over 50 countries.
Advantages of having a Latvian Limited Liability Company - Sabiedriba ar ierobezotu atbildibu (SIA):
- Low tax rates, income tax is only 15%
- Fast company registration – 3 days, approx. 10 days for VAT registration
- Simple structure – one person needed to set up a company
- One-time registration fee, no need to renew it every year
- Transparent legal and tax sytem
- Latvia has double taxation agreements with over 50 countries
- Latvia is a country with stable political and economic situation
- The official currency of Latvia is EUR
Nominee services for Latvia are available. Nominee shareholders may be physical or legal persons. The authority of both nominee directors and nominee shareholders are stipulated in specific agreements and may be broad or limited to a representative role.
Establishing a company in Latvia takes approximately 3 days and VAT registration approximately 10 days. It is a very short time in comparison with European standards.
Shelfcompanies24 provides comprehensive business services, we will offer you company address, assist you in opening a bank account and take care of accounting, which is mandatory in Latvia.
Our advisors are available to you 24/7. You may contact them via email, phone, Skype, WhatsApp, Viber.
Companies in Latvia may be set up remotely, by appointing a plenipotentiary. In this way, the process is a little bit longer, approximately 3 days, but this option allows to save on substantial travel costs.
Send us the needed documents and we will take care of the rest – establishing companies is our job and we are trying not to engage clients in the process.
Do you wish to start the procedure?
Just drop us an email or give us a call and we will send you short list of information that we need. After you provide it to us you can come anytime to proceed with the formalities.