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doklynk corporate

Latvia

Start Your Business in Latvia

Latvia is one of Europe’s fastest-growing business hubs, offering low taxes, easy company setup, and full access to the European Union (EU) market. Whether you’re a startup founder, investor, or entrepreneur, Latvia provides business-friendly regulations, a skilled workforce, and attractive financial incentives.

If you’re looking to expand your business into Europe or establish a new company with global reach, Latvia is the perfect place to begin.

Why Choose Latvia for Your Business?

  • 1

    Fast & Simple Registration

    Set up your company in as little as 2-5 business days
  • 2

    100% Foreign Ownership

    No need for a local partner.
  • 3

    Tax-Friendly Policies

    0% corporate tax on reinvested profits
  • 4

    EU & Schengen Market Access

    Expand freely across Europe
  • 5

    Minimal Capital Investment

    Start with as little as €1 (for LLCs)
  • 6

    Highly Skilled Workforce

    A strong labor pool at competitive costs

Types of Companies You Can Establish in Latvia

Limited Liability Company (SIA) – The Most Popular Choice

  • Best for: Startups, SMEs, international investors.
  • Minimum Capital: €1 (micro SIA) or €2,800 (regular SIA).
  • Tax Benefits: 0% tax on reinvested profits, 20% tax on dividends.
  • Liability: Limited to the company’s assets, protecting owners’ personal finances.

 

📌 Registration Process:


1️⃣ Choose a unique company name & check availability.
2️⃣ Prepare founding documents (Articles of Association, shareholder agreements).
3️⃣ Deposit share capital (for standard SIAs).
4️⃣ Submit an application to the Commercial Register.
5️⃣ Obtain company registration & business identification number.
6️⃣ Register for VAT (if turnover exceeds €40,000 annually).

 

⏳ Processing Time: 2-5 business days
💰 Government Fees: €150 – €200

Joint-Stock Company (AS) – For Large Enterprises & Public Listings

  • Best for: Large businesses, IPOs, companies seeking investors.
  • Minimum Capital: €35,000 (fully paid before registration).
  • Additional Requirements: Board of Directors, financial audits, more regulations.
  •  

Branch Office – Expand Your International Business in Latvia

  • Best for: Foreign companies expanding into Latvia.
  • No minimum capital required – Operates as an extension of the parent company.
  • Faster setup than a new company.
  •  

Business Licenses & Permits in Latvia

Certain industries require special licenses before starting operations.

📌 Industries that require additional licensing:

 

  • Finance & Banking – Investment firms, cryptocurrency companies.
  • Food & Hospitality – Restaurants, food production, catering services.
  • Construction & Real Estate – Engineering, property development.
  • Medical & Pharmaceuticals – Clinics, pharmacies, biotech startups.

 

If your business falls under any of these regulated industries, we can assist with obtaining the necessary licenses.

Business Banking & Financial Setup

📌 How to Open a Business Bank Account in Latvia

 

  • Required Documents: Company registration certificate, tax identification number (TIN), proof of business address, and personal identification documents.
  • Top Banks for Business Accounts: Swedbank, SEB, Luminor, Citadele.
  • Processing Time: 2-5 business days.
  • Multi-currency accounts available for international transactions.

 

Hiring Employees in Latvia

  • Minimum Wage: €700 per month.
  • Standard Work Hours: 40 hours per week.
  • Employer Contributions: Social security & pension contributions total 34.09% of gross salary.
  •  

📌 In-Demand Jobs in Latvia:

  • IT & Software Development
  • Logistics & Transportation
  • Healthcare Professionals
  • Manufacturing & Construction

 

Latvia has a highly educated workforce, making it an attractive location for companies hiring in technology, logistics, finance, and healthcare.

Office Space & Business Infrastructure

📌 Best Cities to Set Up Your Business

  • Riga – Latvia’s capital and largest business hub, ideal for finance and technology.
  • Daugavpils – An industrial city with strong logistics & manufacturing sectors.
  • Liepāja – A key port city offering international trade opportunities.

 

💰 Office Rental Costs in Latvia:

  • Coworking spaces: €100-€200/month
  • Small office (50m²): €400-€800/month
  • Corporate office space: €1,500+/month

 

For startups and small businesses, coworking spaces and virtual offices are also available.

Taxation in Latvia – Business-Friendly Policies

  • 0% Corporate Tax – On reinvested profits (only taxed when distributed).
  • 20% Dividend Tax – When profits are withdrawn by shareholders.
  • 15% Personal Income Tax – Applied to salaries.
  • 21% VAT – Required for businesses exceeding €40,000 annual revenue.

 

Latvia’s 0% tax on reinvested profits is a major advantage for companies planning to grow and expand.

Business Expansion & Residency in Latvia

  • Latvia Start-Up Visa – For entrepreneurs with innovative business ideas backed by investors.
  • Investor Residency Permit – Obtain a residence permit by investing in a Latvian business.
  • EU Business Expansion – Establish a presence in Latvia and scale operations across Europe.

 

📌 How to get a business visa in Latvia?

1️⃣ Invest in a registered Latvian business.
2️⃣ Show proof of sufficient financial resources.
3️⃣ Apply for a residence permit for business activities.
4️⃣ Receive approval & start operations in Latvia.