Company formation and accounting in Latvia
Last updated: 2015-07-09
Process and time frame depends on several circumstances, for example, country, where founders sign documents.

Here is possible procedure and necessary time to incorporate SIA if founders do not come to Latvia.
  • At first you need to collect information and decide some questions (name of the company, legal address, who will be directors of the company, rights of directors to represent the company, amount of equity capital, division of shares among shareholders). Time depends on persons that take part in the incorporation of Latvian company.
  • After you have collected all the necessary information, you need to send it by e-mail to person that prepares documents for incorporation.
  • The person (lawyer) in Latvia prepares documents and sends them back to you by e-mail. Time is approximately one - two working days.
  • Company founders (shareholders, directors) sign the documents. Signature on some documents (for example, on the registration application, a consent of directors, a compartment of register of shareholders) must be signed before a sworn notary (notary public) or at Latvian embassy. Time depends on the notary or Latvian embassy.
  • If a signatures are certified at Latvian embassy and all the documents are in Latvian language, then the next step is to send the paper form documents by post to Latvia.
    If a signature is certified before sworn notary then next step depends on country where it was done.
    Legalization of the documents or Apostille may be necessary. If signature on a document is certified in a country that is not a member of The Hague Convention, then need to legalize the document at first in the competent authority of the country, then in the embassy of the Republic of Latvia or in Consular department of ministry of Foreign Affairs of the Republic of Latvia.
    After all necessary legal formalities are done, you can send the documents to Latvia.
    Also need to provide funds to pay expenses, related with company formation.
  • The person (lawyer) in Latvia receives documents and reviews them. If the lawyer have all the necessary documents and information included in the documents is consistent with Latvian legislation, then the lawyer pays the state duty and payment for publication and submits the documents to the Register of Enterprises of the Republic of Latvia. Time – one working day.
    If the documents are not in Latvian language, then need to translate them and certify the translation before sworn notary.
  • The Register of Enterprises of the Republic of Latvia examines the documents and makes decision. Time – three, four working days (if in particular legal address more than 10 companies are registerd, then time is ~ 14 working days).

So, total minimal time to do whole registration process is ten working days. But need to note that it is a minimal time.

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