Interinvest Financial Company JSC renders a wide range of services for conducting business in Latvia. We can register Latvian company for you, provide secretarial services, consulting and accounting services at all stages of your business development. Start your business in Latvia with our assistance!
Since its foundation in 1996 the law office INLAT PLUS has been one of the leading and most active companies providing legal services in Latvia. Our company renders all kinds of legal services and is capable of providing any kind of legal help. Our staff consists of experienced and highly qualified lawyers who are experts in practically all fields of law. Our clients always feel safe when they receive our legal service.
On 1 May 2004, Latvia became a full member of the European Union. Latvia is attractive to entrepreneurs from both Europe and Russia because of its advantageous geographic location, developed infrastructure, highly qualified labour force and stable legislation. Its economic growth now competes on a par with most other European Countries.
Buy business in Latvia
Latvia is a full member of the EU. Therefore, when purchasing a company in Latvia, you become the owner of a European company, the same as in any other member of the EU, including “the old Europe” – Germany, Spain, Italy etc. You get all advantages of a company, registered in any European country for business and operations inside of the EU.
Registration of Company in Latvia
Foreign citizens have no obstacles for founding their own companies in Latvia. Only a few requirements should be met. First if all, the director and the accountant of the company must be residents of Latvia. Second, the minimal salary, determined by the government, that every employee of the company gets, according to the bookkeeping documents, is 160 lats (about 230 euro). The employer must pay social tax for every employee, which is 25% from the official salary.
The most popular form of business in Latvia is company with limited liability (Ltd., or SIA in Latvian). This company can have either one or several owners, which do not account for the liabilities of the company with their own property (except special cases, connected with criminal liability, which are determined by law).
The minimal capital necessary for the registration of a company with limited liability is 2,000 lats (slightly more than 3,000 euro). 49% of capital can be deposited as property, moreover, a half of the required capital amount can be paid during one year after the registration of the company. It should be mentioned that all the amount of capital in future can be used for company’s activity. The term of registration of a company with limited liability is three weeks, but in case of need it can be reduced to three working days. The registration expenses (dues and fees) are 210 euro and up.
Purchasing of company in Latvia
If you do not want to register a new company in Latvia then you can acquire an existing company. In this case you will be free from any concerns regarding the drawing up of documents, the engaging of employees, the starting promotion of business etc.
The purchasing of existing business in Latvia is a usual practice. Today there is a rather stable demand for the companies with good financial indicators, a stable clientele and a ready market as well as good reputation and experience in their field. From the other side, it is also possible to purchase a “new” company in almost any business field.
The business culture in Latvia today is on western level, but the sales and purchases of companies are an ordinary event. At the same time, they are usually carried out with the assistance of specialized companies, working in this field, which check the accuracy of the operation.
Real estate in Latvia
The legislation of Latvia provides foreign investors an opportunity to purchase or rent real estate property with virtually no limitations. All real estate is entered in the central land register - the Land Book, protecting ownership rights for the property and land. Latvian banks offer competitive mortgage rates for foreigners willing to finance their real estate purchases in Latvia.
Terms
It usually takes 1-2 months to go from starting a deal to securing the purchaser's property right.
Legalization expenses.
During the legalization process the purchaser bears the following expenses:
• The cost of the purchased object
• The cost of real estate value estimation (depends on the object, starting with $150)
• The State duty (registering in the Land Book - 2% deal value interest)
• Notary expenses (depends on the documents, starting with $150)
The advantages owning real estate in Latvia
• Constant price growth tendency
• No limitations on real estate purchases
• Competitive credit offers from local banks
The labour market
The labour market in Latvia is rather stable and balanced. The main part of the employers are small companies with the staff of 20 to 50 people. The international companies are hardly represented in the market and have usually the limited staff.
The employers seeking for the highly qualified staff usually publish in Diena, Dienas Bizness and use the services of local specialized recruiting agencies. In order to attract the other specialists the advertisements in Reklama newspaper can be used. The specialized recruiting portals are also popular among employers. | 
Latvia
