Latvia: Types of Company
Limited Liability Company
The Limited Liability Company is the most common business vehicle in Latvia. A minimum share capital of LVL2,000 is required, at least half of which must be paid up.
Limited Liability Companies must have at least one director; there are no restrictions on foreign shareholders. Accounts must be maintained in line with statutory requirements.
Documents needing to be filed with the Registrar include:
- An application to register;
- The Memorandum and Articles of Association;
- Notice from a bank regarding the payment of equity capital;
- If property contributions are made, the document certifying the value of each such contribution;
- Notarised specimen of signatures of the members of the Board of Directors, where relevant;
- Notice of the Board of Directors of the company’s registered office;
- Receipt confirming the state fee payment (LVL100) for recording the limited liability company in the Commercial Register;
- Receipt confirming payment (LVL24) for the announcement in the official newspaper Latvijas Vestnesis.