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Latest business news

Latvia: Immigration law amendments
26th May 2014
Latvian parliament adopted amendments to the Immigration Law in Latvia on May 8th, 2014. The amendments will come into force on September 1, 2014. Changes refer to the minimum thresholds of the property that qualifies for temporary residence permit.

Read more news

Opening your restaurant in Latvia

Baltic Legal provides a wide range of services and assistance in setting up and promoting your business in Latvia and other Baltic countries. If you are considering opening a restaurant, bistro, cafe, bar or other eatery in Latvia, we will discuss aspects such as real estate, business registration and company formation, permissions and licences, recruitment, creating a potential customer base and tax regulations.

Today, Latvia is a growing country in many respects, with a lot of business potential due to its advantageous geographical location. Opening a restaurant in Latvia is a sound choice, and a potentially lucrative venture. However, it is important to be fully informed of all the relevant factors and risks.

Hundreds of thousands of tourists visit the country every year, and they love to have a good time — especially in restaurants, bars and cafes, just like the locals. It is not surprising, then, that the restaurant business is currently one of the Latvian economy’s most popular and profitable sectors.

Contact us now if you are interested in opening your restaurant business in Latvia!

Commercial real estate and business premises

Finding premises is the first step in setting up your restaurant business. In the last few years, construction has been increasing all over the country, so it shouldn’t be too difficult to find the right property. First, you will have to decide what type of property you need and where. Next, you will need to buy or rent the right premises to support the success of your operation in Latvia.

This process can take up to a few months if you do it yourself, but we are on hand to help you and save your time and resources. Our team of specialists is ready to help with choosing the best location for a restaurant anywhere in the country.

We’ll help you choose a property to rent or buy based on your goals, so to make sure you choose the best option, and have all the paperwork taken care of, contact us for a consultation!

Business registration and company formation

When setting up a business you are required to register your company. We can provide you with a ready-made company or set up a new one for you according to your business plan. This can take up to a few weeks, depending on the case. To avoid having to worry about paperwork and possible mistakes when drafting documents, contact us — we have the knowledge to do it correctly and to a high standard, saving you time.

You will also need to open one or more bank accounts in Latvia. Baltic Legal can help you open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic logjams.

What we can do for you:

  • We will provide high-quality professional company registration services and an individual approach to your needs, while promising loyalty, privacy and fast service;
  • We will provide an efficient service, thus taking a great deal of the load off your shoulders;
  • We will help you solve complex issues and provide you with swift, high-quality legal, accounting and business management services.

Contact us now to get answers to your questions or to get started. For more detailed information on company formation in Latvia, click here.

Permissions and licences

Preparing the necessary documents is an important step. You must get all the required permissions and licences to open your business, and you must be careful and well prepared in your approach — otherwise you may find it costs you more in time and resources. With no experience of this process, it can take up to a few months or even longer.

Each country presents its own set of intricate challenges with regard to forming, developing and sustaining a business. Owners, financiers and investors must enter into these challenges with the support of a knowledgeable and experienced legal team. Only someone with detailed knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that affect many new companies.

In Latvia you’ll need to register with three separate departments:

  • State Revenue Service (VID);
  • Local Health Department (PVD);
  • Department of Buildings (Būvvalde).

You will also need to obtain the following licences and certificates:

  • Food hygiene licence;
  • Licence to sell alcohol;
  • Water quality certificate;
  • Fire safety certificate;
  • Workplace safety certificate;
  • Recorded music licence;
  • HACCP certificate.

HACCP is a self-monitored system for safety in food processing, which includes:

  • Analysing potential hazards in the food chain;
  • Identifying potential types and sources of contamination during the food production process;
  • Carrying out a Food Risk Analysis and Risk Assessment.

Consultation with and permission of local government will be needed, if your business requires a terrace or a signboard.

When you open a company with us, we can accompany you through this process to speed up the procedures, so you get through this step faster.

Creating a potential customer base

Nowadays, creating and developing a successful business is impossible without marketing tools and online resources. Our team can provide you with everything you need for a strong marketing strategy, looking at questions like the number of customers you need and how to reach them. By the time the grand opening arrives, you must have a pool of potential customers to start making a profit straight away.

One very important decision is the target market for your business, and you need to follow a “Know your customer” principle, taking a wide range of aspects into account — like age, tastes and preferences, income level, family status, interests, location, etc. We can support you through every stage of developing a marketing plan and suggest methods to help your business become a recognisable brand in Latvia and beyond.

To ensure you make the right decisions and choose the best strategy for your business, contact our specialists now.

Recruiting a team

Baltic Legal also provides professional recruitment services in Latvia. This is one of the final and most important steps in starting up a business. Experienced staff will provide better quality service for your customers, increasing repeat visits and confidence in your restaurant. The biggest challenge is finding this team — but we can help.

Contact us now to solve your recruitment needs or ask for a consultation.

Tax regulations

If you are in the process of researching doing business or setting up a company in Latvia, please contact us. We will be able to assist you with everything from legal compliance and tax structures to local support staff. You will need to consider every element, from the local office to your high-level organisational structures; be sure to enlist the best possible advisors as you embark upon this challenging process.

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