Company formation in Latvia is a simple and straightforward process. In fact, Latvia is ranked 19th in the World Bank annual "Doing Business" rating. The most popular types of legal entities in Latvia are Limited Liability Company (SIA) and Joint Stock company (AS). Your business can also be registered as personal society (limited or general partnership) or sole trader. A company in Latvia can be registered by local and foreign natural and legal persons, as well as personal societies.
Company formation process varies depending on what type of business entity you would like to register. Similarly, the liability of shareholders, minimum initial capital, as well as time, costs and documents required depends on the chosen legal type of business. Typically, the company formation process can be divided into seven steps:
Consultation on the information about company;
Document drafting for the company formation;
Opening the temporary bank account (if needed);
Initial equity capital transfer into the temporary bank account;
State fee payment;
Company formation documents submission to the Register of Enterprises;
Collection of the decision regarding company formation.
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