Deadline for submission of information to the Register of Enterprises
Company formation and accounting in Latvia
Last updated: 2012-07-10
Information that is the basis for making new entry in the commercial register, as well as documents, defined in legislation must be submitted to the Register of Enterprises within 14 days from day of such decision, unless the Commercial Law sets another date.

A board of directors of a company during 14 days from day when received information about actual shareholders in certain cases must submit the information to the Register of Enterprises.

If a liquidator of a company changes, then a new liquidator must submit the decision to the Register of Enterprises within three days from the date of the decision.

During 3 days after making a decision about termination of business activities of a company, a board of directors must submit corresponding application to the commercial register.

The same term is applicable if a court or a tax authority makes a decision about termination of business activities of a company. In such case a court or a tax authority sends the decision to the Register of Enterprises.
In case of changes regarding shareholders, a member of board of directors (usually the chairman) and certain shareholders sign the section of a register the shareholders. And the members of the board of directors during three working days after signing the section of a register the shareholders must submit it to the Register of Enterprises.

If company increases equity (share) capital, then not latter after expiration of a term for payment of shares, a board of directors must submit to the Register of Enterprises an updated copy of the section of a register the shareholders.

If a company makes a decision about equity capital reduction, a board of directors must inform company creditors about the decision and about the term for submission of claims.
After expiration of the term for submission of claims of creditors, but not latter than 6 months after day when made the decision equity capital reduction, a board of directors submits to the Register of Enterprises the application for reduction of equity capital (share capital).

If shareholders of a company makes a decision about reorganization, then during 15 days from the day of the decision a company informs creditors about reorganization and publishes the notice in the official newspaper (Latvijas Vēstnesis). Then, not earlier than three months after the date of the publication, a board of directors submits to the Register of Enterprises an application to make a record about reorganization.

It should be noted that for the violation of the deadline for submission an administrative penalty is imposed. If the violation committed for the first time, then the administrative penalty may be warning or a fine in amount from 70 euro to 430 euro. If during a year committed repeated violation, then amount of penalty is from 200 euro till 700 euro.



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