To register a company in Latvia, it is necessary to understand that the full registration process involves working with three institutions – the Register of Enterprises, the State Revenue Service (SRS), and a Bank.
In order to open a company in Latvia and to obtain a certificate of tax residency it is necessary to apply to the register of enterprises.
To receive VAT and EORI number, to register a business activity and to receive access to the Electronic Declaration System it is necessary to apply to the SRS.
To open a temporary Bank account for the payment of the registered capital and current account is possible in one of Latvian banks.
The company registered in Latvia is taken by international business as onshore company and it has all corresponding advantages:
- Tax Treaty (Agreement on avoidance of double taxation) (the list of 60 countries, 12 CIS countries);
- Statutory tax and financial reporting;
- Availability of Company Charter information and annual reports;
- Unblemished reputation, prestige business, international trust and detachment from the concept of the offshore zone