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Types of Companies in Latvia

Types of Companies in Latvia

If you want to open a company in Latvia, you can contact one of our specialists with confidence. Our company formation agents in Latvia can explain the types of companies available in Latvia as well as the establishment formalities. In the following lines, you can find out some details about the main types of companies in Latvia. We can help foreigners set up a company in Latvia at any time.

How to open a limited liability company in Latvia

Limited liability company in Latvia or SIA is the most popular business structure. Here’s what you need to know about it:

  • EUR 2,820 is the minimum share capital for a limited liability company in Latvia.
  • Articles of Association are the main documents of the company, with information about the structure, activities, internal rules, and many other aspects related to business.
  • It is necessary to open a bank account and deposit the minimum share capital.
  • When starting a company in Latvia, it is also necessary to register for the payment of taxes.
  • Once registered and with social security and pension funds, the company can start its activities. A company seal is also required.

You can contact our specialists in company formation in Latvia if you are interested in an LLC in this country.

Joint stock company in Latvia

You can also opt for opening a joint stock company in Latvia, a legal entity available for local and international entrepreneurs. One or more shareholders can open a joint stock company in Latvia, and they can be natural persons or legal entities. The minimum share capital for a joint stock company in Latvia is EUR 35,210.

Limited partnership in Latvia

If you are interested in starting a business in Latvia, you can opt for a limited partnership. Two or more members can form this structure based on a partnership agreement. A Latvian LP assumes the liability of at least one member, and to be able to register this structure, a registered business address is needed as well as information about the amount of investment. You can opt for our services if you want to start a company in Latvia.

General partnership in Latvia

A general partnership in Latvia is also an optimal business solution for local and foreign entrepreneurs. As in the case of a limited partnership, two or more members are needed to form this business structure. A partnership agreement is also required before incorporation with the Latvian Commercial Register. The difference between the two entities is the fact that in the case of a general partnership, the members involved are directly responsible for the debts and obligations of this structure.

Opening a branch in Latvia

Foreign companies can establish their business presence in Latvia with the help of one or more branches. This must have the name of the parent company and the same activities. An advantage is the fact that opening a branch in Latvia does not require a minimum share capital.

Liaison office in Latvia

A liaison office in Latvia is the same thing as a representative office. This structure is optimal for business promotion and marketing but without commercial activities. A liaison officer is in charge of various business responsibilities.

Making investments in Latvia

If you are interested in company incorporation in Latvia, you must also consider the economic direction of this country. Here are some data in this regard:

  • A robust rebound was registered by the construction sector in Latvia, with an increase of approximately 15% in the first 6 months of 2023.
  • An economic growth of approximately 2.4% in 2024 and around 3% in 2025 is estimated.
  • According to estimates, the unemployment rate will remain somewhere at 6.8% by the end of 2023.

Feel free to ask for the services of our accountants in Latvia, if you decide on doing business in this country. We invite you to discuss with us about types of companies in Latvia by contacting us online or by phone.