Latvia, a Baltic nation strategically located at the crossroads of Europe and CIS, is increasingly recognized as a prime destination for entrepreneurs. With a business-friendly environment and a stable, growing economy, Latvia offers a compelling proposition for those looking to establish or expand their business ventures. A testament to this is the fact that you can now register a legal company in Latvia in as little as 5 minutes! (Source: Labs of Latvia). One of the most popular legal forms for businesses in Latvia is the Limited Liability Company, known locally as “Sabiedrība ar Ierobežotu Atbildību” or SIA.
This comprehensive guide provides a step-by-step walkthrough of the process for registering an LLC (SIA) in Latvia in 2025. Whether you are a foreign entrepreneur or a local resident, this article equips you with the knowledge and resources to navigate the registration process successfully.
Table of Contents
Why Choose Latvia for Your Business?
Latvia offers numerous advantages for businesses, making it an attractive investment location:
As a gateway between the European Union and the Commonwealth of Independent States (CIS), Latvia provides access to diverse markets.
Latvia’s membership in the European Union grants businesses access to the EU’s single market, enabling seamless trade and investment opportunities.
Latvia boasts a stable and growing economy with a skilled and multilingual workforce.
Latvia offers a competitive tax system with a corporate income tax rate of 20% on distributed profits, making it an attractive location for companies seeking to optimize their tax liabilities. There are also incentives available for holding companies.
Latvia has implemented various reforms to streamline business registration and reduce bureaucratic hurdles. The government actively supports entrepreneurs through various programs and initiatives.
As of January 1, 2025, companies in Latvia can use EU-regulated crypto-assets as share capital when establishing a limited liability company (SIA).
Step-by-Step Guide: How to Register an LLC (SIA) in Latvia
Registering an LLC (SIA) in Latvia involves several key steps:
Step 1: Choose a Company Name
The first step is to select a unique and compliant name for your LLC (SIA).
Availability Check
Verify that your desired company name is not already in use by searching the Register of Enterprises database (Latvia company register search – [https://www.ur.gov.lv/].
Legal Requirements
Ensure the name adheres to Latvian legal requirements. The name must be distinctive and not misleading, and it must include the abbreviation “SIA” at the beginning or end.
Step 2: Find Company Legal Adress
Company Legal adress must be in Latvia
Step 3: Prepare the Necessary Documents
Gather the required documents for registration. You can prepare the documents yourself, or use online services like URonline [https://uronline.lv]
If there are multiple founders, this document outlines the agreement between them. If there is only one founder, a Decision to Establish (Lēmums par dibināšanu) is required instead.
This document defines the company’s structure, objectives, and operating procedures.
Provide proof of the company’s legal address in Latvia, including the cadastral designation of the property.
Submit copies of the passports of all founders and board members
Obtain written consent from each board member to hold their respective positions.
Provide a bank statement confirming the payment of the share capital into a temporary account. This is not required if the share capital is contributed in kind or in money below 50000EUR.
If the share capital is contributed in kind (assets other than cash), a valuation report from an independent appraiser is required. This is not required if the in-kind contribution is below EUR 50000 and the founders prepare the valuation.
Step 4: Open a Bank Account
Open a business bank account with a Latvian bank or fintech companies to manage your company’s finances.
Open a business bank account with a Latvian bank or fintech companies to manage your company’s finances.
You need to pay company shares to opened Bank or fintech account.
Step 5: Pay the State Fee and Register the Company
Electronic Submission
Submit all the prepared documents electronically through the Register of Enterprises online portal. You need Qualified Electronic Signature (QES)
State Fee Payment
Pay the required state fee for registration. The fee varies depending on the type of LLC and the method of submission (online or in person). The state fee for registering a Low Capital LLC (Mazkapitāla SIA) is 20 EUR. For a SIA with a share capital of 2800 EUR and more, the state fee is 75 EUR.
Registration Timeline
The registration process typically takes 1-3 working days. It is now possible to register an LLC in just 5 minutes, according to Labs of Latvia, using the automated system.
Step 6: Register with the State Revenue Service (VID)
VAT Registration
If your business anticipates exceeding the VAT threshold (EUR 50,000 per year), register for VAT with the State Revenue Service (VID).
Tax Regime Selection
Choose the appropriate tax regime for your business (e.g., corporate income tax, micro-enterprise tax).
Business in Latvia for Foreigners
Yes, You read right. Anyone (18+ years old) can establish and register LLC (SIA) in Latvia and start Your business in europe!
HOW Foreigners can Register LLC (SIA) in Latvia
Check Step-by-Step Guide for detailed information.
Register LLC in Person
Visit Latvia
Check the visa requirements for entering Latvia. For many nationalities, a tourist visa Latvia is not required for stays up to 90 days within a 180-day period, as Latvia is part of the Schengen Area. However, it’s essential to verify the specific requirements based on your citizenship. You may need to apply for a Schengen visa. Requirements typically include a valid passport, application form, passport-sized photos, travel insurance, and proof of sufficient funds.
Get necessary company registration documents
Documents must be in Latvian language.
Sign company documents at notary
Notary will approve your signature on documents. This process include additional translation (if necessary) and notary fees. One signatures approval cost around 24EUR.
Submit documents to Register of enterprises by mail
Send signed and notarized documents to Register of Enterprises by registered mail.
Register LLC Remotely
Find appropriate service in latvia
Search for assistance in Latvia and choose only trusted Company.
Get necessary company registration documents
Assistant will prepare all documents in both languages – English and Latvian.
Sign company documents at notary
Sign documents at Notary of Your country of current residence.
Legalize (Apostille) signed Documents
Sign documents at Notary of Your country of current residence.
Send documents to assistant
Send signed, notarized and legalized (Apostille) documents to Assistant by registered mail.
Assistant will translate and Submit documents to Register of enterprises
Assistant will need to Translate and notarize received documents and later submit to Register of Enterprises. Translation and notarization of one document cost around 50EUR.
This process is significantly more expensive because it include additional services like notary, translation and document legalization.
Register LLC Online
Get necessary company registration documents
Assistant will prepare all documents in both languages – English and Latvian.
Sign company documents with electronic signature
Sign documents using electronic signature like QES, eID, SmartID. Only Qualified Electronic Signatures are accepted.
Send documents to Register of Enterprises by email
Send signed documents to official email of Register of Enterprises.
This process is cheapest, does not need Your attendance in Person and does not include translation, notary and document legalization services.
Key Considerations and Important Information
Latvia Company Register Search and Company Registration Number
Latvia Company Register Search
The Latvia company register search tool [https://www.lursoft.lv/?l=en] allows you to find information about registered companies in Latvia. This is useful for due diligence and verifying company details.
Company Registration Number
The Latvia company registration number is a unique identifier assigned to each registered company in Latvia. You can find this number on the company’s registration certificate and in the public records of the Register of Enterprises. The registration number is essential for all official transactions and communications.
Common Mistakes and How to Avoid Them
Double-check all information for accuracy and completeness. Documents must be in Latvian language.
Conduct a thorough search of the Register of Enterprises database.
Ensure you have the necessary funds available to meet the minimum share capital requirement.
Seek professional advice to ensure you comply with all relevant laws and regulations.
Ensure all documents that require notarization are correctly notarized.
FAQ
Remember to always consult the Latvia official website for the most accurate and current details.
A Mazkapitāla SIA has a lower minimum share capital requirement (EUR 1) but comes with certain restrictions.
The registration process typically takes 1-3 working days but can be as fast as 5 minutes if using online registration.
Ongoing costs include accounting fees, taxes, and other operational expenses.
Yes, you need a registered legal address in Latvia. This can be a physical office, a virtual office, or even your home address.
While some steps can be completed remotely, it’s advisable to have a local presence or partner to assist with the registration process.
SIA stands for “Sabiedrība ar Ierobežotu Atbildību,” which translates to Limited Liability Company.
Registering an LLC (SIA) in Latvia is a relatively straightforward process, especially with the availability of online resources and streamlined procedures. Latvia offers a welcoming environment for entrepreneurs and businesses seeking to access the European market.
By following the steps outlined in this guide and seeking professional advice when needed, you can successfully start business in Latvia and establish your company.
Data and Helpful Resources
Citizenship and Migration Affairs Office [PMLP] (https://www.pmlp.gov.lv/en)
Latvian Ministry of Foreign Affairs – (https://www.mfa.gov.lv/en)
European Commission – Visa Policy – (https://home-affairs.ec.europa.eu/policies/schengen/visa-policy_en)
Register of Enterprises (https://www.ur.gov.lv/lv/)
Immigration Law of Latvia (https://likumi.lv/ta/en/en/id/68522)
State Revenue Service (https://www.vid.gov.lv/lv)
Commercial Law (https://likumi.lv/ta/en/en/id/5490)