Company formation

There are many advantages of company formation in Latvia, for example:

– you can get Tax benefits;

– short time registration of a new company;

– any European or Non-European citizen can be a fonder of Latvian company

– any European or Non-European citizen can be a board member of Latvian company

– your attendance is not necessary !

– easier order of entering and residence in EU !

As you know Latvia is a member of Schengen Agreement. It means that visa to Latvia or residence permit to Latvia allows you to enter and leave the country unlimited number of times during the period residence permit is valid, as well as travel free over the countries of Schengen Agreement (with rights of residence up to 3 months in 6 months period, without working permit in those countries).

More about comapny formation you can read on website www.register-company.lv

Latvia’s Central Bank Governor Ilmars Rimsevics says the country is psychologically ready for euro adoption in January, and is confident its banks will pass ECB stress tests.

REPORTER: ‘The ECB, and we talked about the ECB because the ECB has also questioned the viability of the country. I’ve mentioned inflation rates already but it’s also talked about, this reliance, this heavy reliance on a non-resident deposit base. Clearly, comparisons arise with Cyprus in some people’s minds. How worrying should this reliance on the non-resident deposit base be?’

RIMSEVICS: ‘There has been never reliance on non-resident deposits. Non-resident deposits historically has been on a level between 40% and 50% of the total deposits. Comparison with Cyprus is absolutely out of the picture because Cyprus’ economy versus the banking sector was eight times smaller or in other words, the banking sector was eight times bigger. In Latvia, it’s only 1.3 times so, and I think we explained everything at the beginning of this year once having these succession discussions with the European Union. And I think just one letter and three meetings was enough.’

Benefits of limited liability company (SIA) in Latvia:

– company is legal entity;

– all company liabilities are limited with the share capital;

– simply procedure of registration of company;

– it is not necessary to visit Latvia for registering of limited liability company in Latvian state register of enterprises;

– owner of limited liability company can be any person (legal entity and physical person) and also offshore company;

– simply managing (can managed by one person);

– there is not necessary for local (resident) director of company;

– Corporate income tax of Limited Liability Company is 15%.

More you can read on www.register-company.lv.