Doing business in Latvia
December 27, 2015
World Bank’s annual report “Doing Business” ranked Latvia 22nd in the world for ease of doing business. Indeed, business climate in Latvia facilitates business development. For instance, corporate income tax is 15% and third-country nationals without any limitations can open a company in Latvia and hold office in the board of directors. The company registration in Latvia will take 1-3 days and does not require founders to be present in Latvia.
All documents required for company registration in Latvia can be signed and submitted to the Enterprise Register electronically. In this regard we highly recommend to make use of the modern method of digital signing. This will save you money on unnecessary notarial fees and also help you win the time. For example, drafting, notarial certification, legalisation and posting of hard copies of documents may take weeks, if not months. However, all the said bureaucratic formalities can be easily avoided by means of electronic signature; notarial certification is not required in this case.
If, however, the founders will decide to use the classic method for signing and submission of the documents, then in this case the presence of the founders in Latvia is not required all the same. Lawyers of Belyaev & Belyaev will perform in the interests of the founders all necessary activities related to the registration of a company in Latvia.
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