Company Registration in Latvia
Capital: Riga.
Official languages: Latvian.
Currency: euro.
Company registration provides the following benefits:
- Treaties for the avoidance of double taxation.
- Economic and political stability.
- Low corporate tax.
Latvia is a state in Northern Europe, located on the eastern coast of the Baltic Sea. It borders with Estonia, Russia, Belarus and Lithuania.
Latvia is a country with a favorable taxation system. The state is a member of the EU, has a good reputation and a favorable geographical location. Registering a company in Latvia is an opportunity to conduct business throughout the EU.
Taxation and Reporting Features
Corporate Income Tax:
- Standard rate: 20%
- Special exemptions for certain industries
- Tax incentives for startups and SMEs
VAT:
- Standard rate: 21%
- Reduced rate: 12% (certain goods and services)
- 0% on exports
Dividends:
- 0% for residents
- 0% for non-residents (withholding tax treaties)
Company registration in Latvia is managed by the Register of Enterprises. The desired company name must be checked for availability and registered through this authority.
To register a company, an application must be signed by the board members, detailing the necessary information about the company. This is accompanied by a collection of documents, including articles of association, a declaration of establishment, passport copies, and personal codes of the founders and board members.
Once the company is incorporated, the registration information will appear in the Latvian Enterprise Register. To finalize the process, registration with the State Revenue Service is required.
At the time of registration, the company must have:
- A Tax Identification Number from the State Revenue Service — necessary for tax purposes and opening a bank account.
- Articles of Association notarized by a certified notary.
- A bank statement confirming the initial capital deposit. This should include the company name, stakeholders' details, and their share of the capital.
- A proof of payment for the state duty, based on the share capital size.
SIA Company in Latvia
- Limited liability
- Minimum 1 director / 1 shareholder
- Simple business structure
Tax Rates in Latvia
Additional information
- Financial reporting: Annually required (Latvian GAAP/IFRS)
- Audit: Mandatory for certain companies
- Annual Return: Within a month after the anniversary
- Tax return: Corporate Income Tax Return
- Employer's Return: If employing staff
- Registers: Directors and shareholders (mandatory)
- Directors' details Publicly accessible in the register
- Shareholders' details Publicly accessible
- Financial reporting Confidential (not disclosed)
Timeline and Stages
- 01
Preparation of documents and name selection
1-2 days - 02
Checking name availability in Latvia's Commercial Register
1 day - 03
Submission of documents either online or in person
1 day - 04
Receiving Company Incorporation and Registration certificates
1-4 days - 05
Establishing a corporate bank account
2-4 weeks
The bottom line
Registering a business in Latvia has many advantages for foreign investors. At the same time, the registration process is not so simple and requires an understanding of local laws and procedures. We recommend that you seek advice from qualified IT-OFFSHORE consulting specialists who have experience working with this jurisdiction and will be able to register your company in the shortest possible time.
We offer not only legal support for company registration, but also a wide range of services, which includes accounting services, nominee services, and full support of the company after its registration; Thus, we provide full year-round service to your company.
Cost calculation
Add the required options for your company:
FAQ
Can you register a company remotely?
Yes, in most cases — you can.
Remote company registration is available in the vast majority of popular jurisdictions today. Modern corporate services, electronic document management and professional registered agents make it possible to complete the entire registration process without being physically present in the country.
The process typically works as follows: you provide the required documents electronically, sign them remotely — via a notary, apostille or electronic signature — and a local registered agent handles all communication with government authorities and document submission on your behalf.
This has been made possible by several factors: most countries allow foreign founders and directors, corporate service providers operate remotely across the globe, and the digitisation of government registries has significantly streamlined and accelerated the procedures.
The one step that may still require in-person presence is opening a corporate bank account — however, even here many banks and fintech platforms now offer remote identity verification.
What documents are needed for registration?
Registering a company in most jurisdictions requires a standard set of documents. For individuals — founders and directors — the typical requirements include: a certified copy of a passport, proof of residential address (utility bill or bank statement no older than 3 months), and in some cases a bank reference letter or CV.
For corporate shareholders, the required documents include: certificate of incorporation, articles of association, register of directors and shareholders, and confirmation of the ownership structure.
Do I need to keep accounting records and submit reports?
Accounting and reporting requirements vary significantly depending on the jurisdiction. In most countries, companies are required to maintain proper bookkeeping, file annual financial statements and submit tax returns.
At the same time, there are a number of jurisdictions where reporting requirements are minimal or effectively non-existent for non-resident companies. These include, for example, the Marshall Islands, the Cook Islands, Panama, Belize, Seychelles and Vanuatu — in these countries, companies that do not conduct business within the territory of the registration state are generally exempt from mandatory financial reporting and audit requirements.
We provide full company administration services, including preparation and submission of annual reports, liaison with local authorities and ensuring full compliance with all corporate requirements of the jurisdiction.
Is it possible to open a bank account for a company?
Yes, opening a corporate bank account is possible for virtually any jurisdiction, however this process deserves careful attention. Today businesses have two main options: traditional banks and fintech platforms.
Traditional banks offer a full range of financial services, but account opening requirements have become increasingly stringent — KYC procedures, source of funds confirmation, business plans and in some cases in-person presence may be required. Fintech platforms — such as Wise, Airwallex, Revolut Business and others — open accounts significantly faster and remotely, making them a popular solution for international companies at an early stage.
Is it possible to use nominee directors?
Yes, the use of nominee directors and shareholders is a common and legitimate practice in international corporate structuring. A nominee director is formally listed in the company registry but acts exclusively in accordance with the instructions of the beneficial owner, providing an additional layer of privacy.
This service is particularly in demand in jurisdictions where information about directors and shareholders is entered into a public register — for example, in Cyprus, the United Kingdom, Malta and a number of other EU countries. In offshore jurisdictions, nominee services are also widely used to simplify corporate governance and protect ownership structures.
We provide nominee director and shareholder services for any jurisdiction we work with.
