The most common form of a business presence in Latvia is a limited liability company. The minimum share capital required to establish a limited liability company is LVL 2000 (€2850) which has to be paid before registration with the Commercial Register.
The following documents are required in setting up a limited liability company in Latvia:
• Application form which must be signed by all founders. Signatures and capacity of signatories must be certified by a notary.
• Any power of attorney (notarised) issued by a founder to another person, authorizing such a person to sign the application.
• Shareholders agreement signed by all founders. Signatures must be notarised. In case of a sole founder the Memorandum is replaced by a Resolution on Incorporation.
• Copies of the founders’ passports.
• Articles of association signed by all founders. Signatures must be notarised.
• Confirmation letter from the bank (in case of monetary contributions).
• Statement regarding any investments in kind.
• Each Council member’s consent to act as a Council member (If the company has established a Council).
• Passport of the copies of the members of the Council.
• Each Board member’s consent to act as a Board member.
• Passport copies of the Board members.
• Notarised signature samples of the Board members having representation rights.
• The Board’s confirmation of the company''s address.


Price of Formation of a Limited Liability Company in Latvia

Company Formation: €1500
Publication in a state newspaper of incorporation: €50
Registering the company with the Commercial Register €250
First year Registered Office cost €900

Total Company Formation Cost: €2700

Additional Services
Registering a new company in the Commercial Register within five days (express, optional service): €560
Registered Office per year: €900
Fax in Riga per year: €300
Book-keeping service per month: from € 70
Courier delivery of documents to World (approximate cost): €90
Bank Introductions Company Account: €190