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Latvia

Latvia Flag

Country: Latvia
Region: Europe
Currency: Lats (LVL) (Ls)
Languages: Latvian
Time Zone: UTC +2

Phone Code: +371

Communications: Good

Formation Cost: 2600 - 5000 USD$
Formation Time: 7-21 days
Maintenance cost: 1800 - 2400 USD$

Executive Summary: Latvia is one of the three Baltic States (the others being Estonia and Lithuania) with a population of about 2.2m. Like most ex-Soviet states, Latvia has had to cope with the privatisation of most of its economy. However, Latvia’s geographical location has helped it remain a key transit point for north-south and east-west trade flows between the USA, the EU, the Far East, Russia and the CIS, making the transit sector one of Latvia’s main industrial sectors. The currency is the Lat (LVL) but the Government is hoping to adopt the euro. Telecommunications are good, with a fibre optic network connected to Scandinavia and Western Europe. There is a growing and competitive mobile phone network. Businesses benefit from a flat 15% corporate income tax on profits and capital gains. There are also Special Economic Zones in which companies can claim generous tax rebates.

Suitable for: Insurance, Shipping, Aviation, Yachting, Trading Goods, Trading Financial, Holding Companies, E-gaming
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Limited liability companies, joint stock companies, general partnerships, limited partnerships and branches

Capital primary business districts: Riga

Good Relationships: Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Ireland, Italy, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Turkey, Ukraine, United Kingdom, United States

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Moderate

Headline tax rates: CIT 15%, PIT 25%, VAT 21%

Treaty Jurisdictions: Albania, Armenia, Austria, Azerbaijan, Belarus, Belgium, Bulgaria, Canada, China, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Ireland, Israel, Italy, Kazakhstan, Korea, Republic of, Kuwait, Kyrgyzstan, Lithuania, Luxembourg, Macedonia, Malta, Mexico, Moldova, Montenegro, Morocco, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Tajikistan, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan

TIEA Jurisdictions: Guernsey, Jersey

Information Links:

 

 

 

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