Information: Business in Latvia
A wide information and facts on topic about business set up in Latvia. Read further.
In this comprehensive e-book you can find information and facts about Latvia, Membership of Latvia in international organisations, economic achievements, political structure, business etiquette, business and investment opportunities.
Registration of Value Added Tax (VAT) taxable persons at the State Revenue Service (SRS) is governed by the Law on Value Added Tax listing VAT taxable transactions and their taxable value, as well as by the Cabinet Regulations No. 933
Procedures for the Application of Provisions of the Law on Value Added Tax adopted on 2013.
The Register of Enterprises commenced its operation on 1 December 1990 when active establishment of private companies began. The institution began to operate as a part of the Ministry of Justice.
Only the person, who is registered as the owner in the Land Register, can be recognised as such. Until registration in the Land Register, the person acquiring the immovable property has no rights against third parties.
A licence gives the right to sell alcoholic beverages or tobacco products only at the place indicated therein. A licence may be used only by the person to whom it was issued.
List based on Participants of the Bank of Latvia Settlement Systems listed on official website of the bank.
Find the website here: Bank of Latvia
Bank account opening for your needs in Latvia, both natural persons and companies.
Register of Enterprises is the central institution which keeps all data and records up to date. It is mandatory to submit incorporation documents with the registry at the moment of company establishment.
A residence permit is a document that gives a foreign citizen the right to temporarily (a temporary residence permit) or permanently (a permanent residence permit) stay in the Republic of Latvia.
Salary tax books are issued by the State Revenue Service. When a salary tax book is issued, the date of issue and registration number, as well as the name is indicated.
The tax principles are laid down by the law
On Taxes and Fees
. Taxes are administered by the State Revenue Service (SRS), and they are classified as direct and indirect taxes.
Latvia originates from the ancient Latgalians which was one of the four Indo-European tribes that together with Semigallians, Couronians and Selonians was involved in the ethnogenesis of Latvians.
Registration as a VAT payer is compulsory if the total value of taxable transactions conducted by a natural or legal person, whose declared place of residence or registered address is situated in the Republic of Latvia.
Dividends will not be taxable income starting of 1st January 2013 and thus Latvia introduces and recognizes holding corporate structure. The exemption applies to residents and non-residents as well as natural persons and legal entities which are not registered in low tax states and territories (tax heavens).
Registration with the state registry (Commercial Registry of Republic of Latvia) is mandatory for doing business in Latvia. The Company is considered a legal entity only after registration at the Commercial Registry. It is important to choose an appropriate business entity type for your Latvian company, as well as to prepare incorporation documents beforehand.
The main differences, important for any entrepreneur, who has not decided yet – Latvia or Cyprus.
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