{"id":126,"date":"2023-04-27T10:08:17","date_gmt":"2023-04-27T10:08:17","guid":{"rendered":"https:\/\/companyformationlatvia.com\/?p=126"},"modified":"2023-04-27T10:08:20","modified_gmt":"2023-04-27T10:08:20","slug":"gdpr-legislation-in-latvia","status":"publish","type":"post","link":"https:\/\/companyformationlatvia.com\/gdpr-legislation-in-latvia\/","title":{"rendered":"GDPR Legislation in Latvia"},"content":{"rendered":"\n<p>The\u00a0<strong>General Data Protection Regulation<\/strong>\u00a0is an EU law that is applicable in all member states starting with May 2018. The main purpose of this unifying law is to provide the same conditions for the protection of personal data at a European Union level. All companies in Latvia will have to comply with the rules for collecting, processing, transferring and archiving personal information about their clients.<\/p>\n\n\n\n<p>Our team of agents who specialize in&nbsp;<a href=\"https:\/\/www.companyformationlatvia.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>company formation in Latvia<\/strong><\/a>&nbsp;can give you complete information about the new requirements for companies and the fines they risk if they do not comply with the regulations.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationlatvia.com\/gdpr-legislation-in-latvia\/#special-conditions-for-consent-under-the-gdpr\" title=\"Special conditions for consent under the GDPR\">Special conditions for consent under the GDPR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationlatvia.com\/gdpr-legislation-in-latvia\/#gdpr-compliance-in-latvia\" title=\"GDPR compliance in Latvia\">GDPR compliance in Latvia<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"special-conditions-for-consent-under-the-gdpr\"><\/span>Special conditions for consent under the GDPR<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The&nbsp;<strong>GDPR<\/strong>&nbsp;includes a set of characteristics that need to be satisfied as far as&nbsp;<strong>consent for collecting personal data<\/strong>&nbsp;is concerned. For the purpose of data protection and privacy, consent must be:<\/p>\n\n\n\n<ul>\n<li>\u2022 Freely given: the subject must have free choice for giving his\/her consent and no repercussions if they wish to withdraw;<\/li>\n\n\n\n<li>\u2022 For specific purposes: the scope of the data usage must be clearly stated and consent is to be given for one or more specific purposes.<\/li>\n\n\n\n<li>\u2022 Unambiguous: the options for offering consent must be clear and simple: the data subject should only need to make a clear and affirmative action to offer his\/her consent; this is especially applicable to websites.<\/li>\n\n\n\n<li>\u2022 Informed: the subject must make an informed decision and for this purpose, the identity of the data controller as well as the purpose for the data collection and all of the transfer information must be clearly specified.<\/li>\n<\/ul>\n\n\n\n<p>Our agents who specialize in&nbsp;<a href=\"https:\/\/www.companyformationlatvia.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Latvia company formation<\/strong><\/a>&nbsp;can give you more details about how to implement these requirements for obtaining valid consent from your clients. Investors in Latvia should know that the scope of the GDPR also extends to non-EU companies when they process personal or sensitive data belonging to EU citizens.&nbsp;If you are an investor with a company in Latvia, you would likely keep up with the country\u2019s regulations. It is crucial to hire an&nbsp;<a href=\"https:\/\/www.companyformationlatvia.com\/accounting-services-in-latvia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>accountant in Latvia<\/strong><\/a>&nbsp;if you want to comply with the state\u2019s accounting requirements. The income tax, the GST, and other government agencies must be dealt with when you start a firm. The filing of different returns with these departments is aided by accounting.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"gdpr-compliance-in-latvia\"><\/span>GDPR compliance in Latvia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investors who want to&nbsp;<a href=\"https:\/\/www.companyformationlatvia.com\/register-company-latvia\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>open a company in Latvia<\/strong><\/a>&nbsp;can reach out to us for more information about the new regulations and adequate compliance for companies. Because the fines for failure to comply with the GDPR ate substantial (4% of the company\u2019s annual turnover or 20 million EUR, whichever is more), small and medium companies are understandably more vulnerable to these measures.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.companyformationlatvia.com\/contact-us\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Contact us<\/strong><\/a>&nbsp;for in-depth details and for complete assistance during company incorporation in Latvia.&nbsp;If you are planning to&nbsp;<strong>start a company in Latvia<\/strong>&nbsp;you should know that there is no extra state or local tax on company revenue; it is exclusively taxable at the federal level. It is also important to keep in mind that all Latvian resident businesses are obligated to pay corporate income tax, regardless of whether their earnings originate domestically or abroad. Only the corporate income taxes associated with income derived from Latvia will be paid by non-resident businesses operating in Latvia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0General Data Protection Regulation\u00a0is an EU law that is applicable in all member states starting with May 2018. The main purpose of this unifying law is to provide the same conditions for the protection of personal data at a European Union level. All companies in Latvia will have to comply with the rules for collecting, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10,35,32,36],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GDPR Legislation in Latvia<\/title>\n<meta name=\"description\" content=\"Investors who open a company in Latvia need to comply with the EU-wide GDPR regulation for data protection.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/companyformationlatvia.com\/gdpr-legislation-in-latvia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GDPR 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