Registering a company in Latvia
Organisational and legal form
What is the best organisational and legal form for starting a business? It all depends on the number of participants or owners. Most often, businessmen open a limited liability company in Latvia, or in Latvian – Sabiedrība ar ierobežotu atbildību, abbreviated SIA.
Structure of a Latvian private limited liability company
Members of the board
This position can be occupied by an individual without special requirements for residency. The must be at least one member of the board.
The composition of the management board depends on the size of the authorised capital. If the amount of the authorised capital of the company is up to 2,800 euros (at least 1 euro), then the board must include at least one of the founders. If the amount of the authorised capital is more than 2,800 euros, then the board may include individuals who are not founders.
Certain requirements are established for this position, considering the size of the authorised capital:
If the authorised capital is up to 2,800 euros (the minimal amount is as small as 1 euro) then an individual of any residence can be the founder. Such a shareholder he cannot act as a shareholder in another Latvian SIA where share capital is less than 2,800 euros. In this case, the maximum number of shareholders is five people.
If the authorised capital is more than 2,800 euros, then an individual of any residence can be the founder. In this case, the number of shareholders is unlimited.
Beneficiary (ultimate owner of the company’s assets)
You can hide information about the beneficiary using the services of a nominee shareholder. This service is provided under English trust law. The nominee shareholder unsubscribes in favor of the real owner from all the assets of the company. When generating a complete Statement, information is reflected only on the Shareholder.
The main advantages of company registration in Latvia LLC (SIA)
An LLC in Latvia can be opened by a single founder or a group of founders.
You can open branches in other cities and countries.
Simple and fast registration (starting from two working days).
The founders of the company are the full owners of the company. In other states, a foreigner cannot open a company without the participation of a resident of the country. In Latvia, there is no such requirement.
The permanent presence of the director in the country is not required to manage the company.
The editorial unit