Republic of Latvia | |
|---|---|
| Anthem: Dievs, svētī Latviju! (Latvian) ("God Bless Latvia!") | |
![Location of Latvia (dark green) – in Europe (green & dark grey) – in the European Union (green) – [Legend]](https://en.wikipedia.org/wiki/File:EU-Latvia.svg) Location of Latvia (dark green) – in Europe (green & dark grey) | |
| Capital and largest city | Riga 56°57′N 24°6′E / 56.950°N 24.100°E |
| Official languages | Latviana |
| Recognized languages | Livonian Latgalian |
| Ethnic groups (2025) |
|
| Religion (2018) |
|
| Demonym(s) | Latvian |
| Government | Unitary parliamentary republic |
| Edgars Rinkēvičs | |
| Evika Siliņa | |
| Daiga Mieriņa | |
| Legislature | Saeima |
| Independence | |
| 18 November 1918 | |
Recognised | 26 January 1921 |
| 7 November 1922 | |
| 21 August 1991 | |
| Area | |
Total | 64,589 km2 (24,938 sq mi) (122nd) |
Water (%) | 2.09 (2015) |
| Population | |
2022 estimate |  1,842,226 (146th) |
Density | 29.6/km2 (76.7/sq mi) (147th) |
| GDP (PPP) | 2024 estimate |
Total |  $78.421 billion (104th) |
Per capita | $41,730 (51st) |
| GDP (nominal) | 2024 estimate |
Total | $45.466 billion (96th) |
Per capita | $24,193 (42nd) |
| Gini (2021) |  35.7medium inequality |
| HDI (2022) | 0.879 very high (37th) |
| Currency | Euro (€) (EUR) |
| Time zone | UTC+2 (EET) |
Summer (DST) | UTC+3 (EEST) |
| Calling code | +371 |
| ISO 3166 code | LV |
| Internet TLD | .lv |
| |
Latvia is a country located in Northern Europe, bordering the Baltic Sea, and is a member of the European Union. Latvia has a favorable business climate and attracts investors from around the world. If you are looking to start a business in Latvia, it is essential to follow the legal requirements to register your business. This article will guide you through the process of registering a business in Latvia.
Table of Contents
Choose a Business Structure:
Before you start the registration process, you need to decide what type of business structure you want to set up. There are several types of business structures in Latvia, such as:
Most entrepreneurs prefer to set up a limited liability company (SIA) in Latvia because it is easy to set up and operate.
Reserve a Company Name:
The next step is to reserve a name for your company. You can check the availability of your preferred company name on the website of the Register of Enterprises of the Republic of Latvia. Once you have found an available name, you need to reserve it for 30 days by paying a fee.
Prepare the Required Documents:
To register a business in Latvia, you need to prepare the following documents:
Register Your Business:
Once you have prepared all the required documents, you can register your business in Latvia. You can do this online or by visiting the Register of Enterprises of the Republic of Latvia in person. If you decide to register your business online, you need to create an account on the official website of the Register of Enterprises of the Republic of Latvia and follow the steps outlined on the website.
If you prefer to register your business in person, you need to submit the required documents to the Register of Enterprises of the Republic of Latvia. Once your application is approved, you will receive a registration certificate and a registration number for your company.
Obtain Necessary Licenses and Permits:
Depending on the nature of your business, you may need to obtain additional licenses and permits to operate legally in Latvia. You can find out what licenses and permits you need by contacting the relevant authorities or by checking the Latvian Business Register.
Conclusion:
Registering a business in Latvia can be a complex process, but it is essential to follow the legal requirements to avoid any legal issues in the future. By following the steps outlined above, you can successfully register your business in Latvia.
If you need help with the legal part of your business journey in Latvia, Generis Global can assist you. Generis Global is a firm that specializes in legal and business services, including company registration, accounting, and tax compliance in Latvia. Contact us to learn more about how we can help you with your business in Latvia.
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