Located at the crossroads between northern and eastern Europe, the Baltic state of Latvia is making the most of its recent membership of the EU. Foreign investments are booming and the Latvian authorities have taken initiatives to simplify regulations governing the establishment of companies in Latvia. The range of business entities has been reduced from 13 to 5, bringing the commercial landscape more in line with EU standards.
There are four main types of company in Latvia for foreign investors:
|Average start-up times||3 days|
|Availability of pre-established (ready-made) companies||No|
|Average taxation||There are no taxes on dividends for European Union residents; for non-residents, tax on dividends is only 15%.|
|Published information about the company's directors||The names of company executives appear in public registers. Executives can be appointed to prevent the customer's name from appearing.|
|Legislation and controls||
The governing authority is the Business Register and companies are regulated by the Commercial Law, Commercial Law of Latvia.
|Confidentiality||Bearer shares are not permitted|
|Risk indicators||Average political risk: 22%