Company formation and accounting in Latvia
Last updated: 2015-11-24
Registration of a company in Latvia is relatively simple and does not take much time. An important point related to registration, is preparation of documents. The information included in the documents must comply with legislation of the Republic of Latvia. Also, the information must be correct (for example, name and surname on documents must be exactly the same as in the passport).

The most common legal form, is a limited liability company (about 87% of all business entities registered in the commercial register are limited liability companies).

Therefore, this page contains the information required for registration of the limited liability company.

To prepare documents need to provide the following information:
  • company name (must use only Latin and/or Latvian letters). May prepare several possible company names to check,
  • company's registered office - legal address (address must be in Latvia). From the owner of the immovable property must get written permission to register the legal address in the property,
  • information about each founder (shareholder) (name, surname, passport details, address of residence),
  • information about each member of the board of directors (the same data as for founders; founders natural persons also can be members of the board of directors),
  • the amount of the share capital (depending on the type of a limited liability company minimum share capital can be either 1 or 2800 euro (until 01 January 2014, - 1 or 2000 lats)),
  • the procedure and method of payment of the share capital (depending on the type of a company you can pay the share capital both in cash and in-kind / material contribution)
  • the amount of the share capital, paid before the submission of documents to the state register (again, depending on the type of a company the share capital must be paid fully or 50% of the prescribed amount of the share capital),
  • information about the rights of the members of the board of directors to represent the company (the rights to represent separately or together),
  • if necessary, you can create a supervisory board and appoint the auditor (in this case, need information about members of the supervisory board and about the auditor).
  • any other information you wish to include in the documents relating to the registration.

What documents are required from founders? If a founder is a natural person, then the only necessary document is a passport. If a founder is a legal person, then need document proving that the legal person exists and also need document certifying rights of a certain natural person to represent the legal person.

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