– How to start a business

How to register an enterprise in Latvia..

In order to register an enterprise, it is necessary to know the:

1. type (joint stock company; limited liability company; individual entrepreneur etc.);
2. company (name);
3. legal address (location) of the new company (business).

Most frequently used forms::

Limited liability company is a commercial company, the equity capital of which consists of the total sum of par value of equity capital shares. Limited liability company is a closed company, the shares of which are not publicly tradable objects. The company is the legal entity.

Joint stock company is a commercial company, the equity capital of which consists of the total sum of par value of equity capital stocks. A stock company is a public company, the stocks of which may be publicly tradable objects. The company is a legal entity.

The founders of the new company (business) sign the foundation agreement (record) and other foundation documents (according to the type of the company (business) chosen).
On the ground of the foundation agreement (record) the temporary bank account should be opened for paying the foundation share capital of the company. The minimum foundation share capital of joint stock companies is LVL 25,000, while of limited liability company – LVL 2,000.
The state tax for company registration: LVL 250 for a joint stock company, LVL 100 for a limited liability company, limited partnership, general partnership; LVL 20 for a branch of foreign businessman.
The foundation of each new company must be advertised in the official state gazette “Latvijas Vēstnesis” (the fee is LVL 24 for joint stock companies, limited liability companies, limited partnerships, general partnerships; LVL 16 for individual merchants, branches).
Applying to register a stock company in the Commercial register, it is necessary to submit an application to the Register of Enterprises. The application forms and samples of other foundation documents are available in the departments of the Register of Enterprises as well as on its website: www.ur.gov.lv.

The Register of Enterprises considers application and issues registration card with a single registration number both of enterprise, and taxpayer. However, when starting business concerned with value added tax, taxpayers must register in the State Revenue Service in the register of taxable persons (SRS webpage: www.vid.gov.lv ).

Business support institutions in Latgale region::


Rezekne Municipality Agency “Rezekne Business centre” – Atbrivosanas aleja 93,
Rezekne, LV-4601 tel. +371 4607635; +371 4607638
E-mail: rbc@rezekne.lv Internet: rezekne.lv

Rezeknes Special Economic Zone – Atbrivosanas aleja 93, Rezekne, LV-4600
Tel. +371 4622033
Fax: +371 4625941
Internet: www.rsez.lv

Rezekne Regional department of the Register of Enterprises
(Rezekne, Rezekne district, Ludza district, Balvi district)
Atbrivosanas aleja 98, Rezekne, LV-4600
Tel. +371 4622095
Fax: +371 4625942

Northlatgalian office of the Latgale Region Development Agency
Rezekne, Atbrivosanas aleja 95, LV-4600, tel./fax: +371 4624300


Latgale Region Development Agency
Daugavpils, Rigas street 2-38, LV-5401, tel./fax: +371 5428111
Internet: www.latgale.lv

Euro Info Centre – Latgale EICLV902
Daugavpils, Teatra street 19, LV-5401, tel./fax: +371 5440801
Internet: www.eic.latgale.lv

Daugavpils Regional department of the Register of Enterprises
(Daugavpils, Daugavpils district, Kraslava district, Preili district)
Lacplesa street 20, Daugavpils, LV-5401
Tel: +371 5428422, fax: +371 5429153
E-mail: daugavpils@ur.gov.lv