Latvia Business, Taxation and Offshore Information
Latvia is one of the three Baltic States, the others being Estonia (to the north) and Lithuania (to the south). Latvia has 531 km of coastline with the Baltic Sea and a total land area of 64,589 sq km. The population is about 2.23m. Latvian is the official language; Russian, German and English are widely spoken.
The President is elected for a four-year term by the Saeima, Latvia’s parliament; the current President is Valdis Zatlers, who was elected on May 31, 2007.
Like most of the ex-USSR countries, 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 country joined the WTO in 1999, and the EU in 2004. More »