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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.

 

 

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