Positioned
at the crossroads
of northern
and eastern
Europe, the
Baltic state
of Latvia is
rapidly making
the most of
its recently-acquired
status as a
member of the
EU. Foreign
investment is
rising strongly
and Latvian
authorities
have taken steps
to streamline
the regulations
governing company
formation. The
range of possible
business entities
has been reduced
from thirteen
to five, bringing
the commercial
landscape more
into line with
established
EU standards.
REQUIREMENTS
Minimum
share capital
to be deposited:
€3090, at
least half
to be paid
up.
Minimum
directors:
one required.
No
restrictions
on foreign
shareholders.
You
will need
to go over
to Latvia
in order
to sign
documents
with the
Notary and
forms for
the bank
account.
FEES
Company
formation,
bank account
and VAT
registration:
£2,858.90
ex. VAT
TIMESCALES
Five
days to
form the
company
once the
declaration
has been
signed and
share capital
has been
transferred.
Two
weeks to
obtain VAT
number.
OFFICES
Virtual
office (includes
telephone,
fax and
mail forwarding
facilities):
£200 per
month payable
quarterly
in advance
plus £600
deposit
refundable
within 30
days upon
termination
of your
office contract.
Serviced
office:
cost as
per requirement.
ACCOUNTANCY
Quote
based upon
approximate
number of
monthly
invoices
and projected
annual turnover.
HOW DO I PROCEED?
In order to commence the formation procedure, we will require the following:
Payment
of the company
formation
cost.
A
completed
application
form.
A
certified
copy of
each director/shareholders
passport.
Two
utility
bills that
are less
than three
months old.
