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Company Formation Latvia

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Company Act in Latvia

Updated on Tuesday 21st August 2018

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Company-Act-in-Latvia.jpgThe Company Act in Latvia, or the Commercial Law, covers the principles of starting a legal entity in the country, defines the existing legal forms of doing business. discusses the mandatory process of registering the company in Latvia as well as the manner in which commercial companies can be reorganized.  
 
Company formation in Latvia is an uncomplicated process, however, first-time investors and especially foreign entrepreneurs can use the special services provided by company registration agents.
 

General principles for engaging in commercial activities in Latvia

 
The Company Act is divided into three parts, each treating separate issues related to the incorporation, registration, and management of a business. The first part contains the usual definitions and presentations for the state authorities as well as the preliminary pre-registration conditions. In general, these refer to selecting the company name. 
 
The list below includes some of the most important aspects treated in the first part of the Company Act:
 
  1. Definitions: the commercial activities and the merchants that are allowed to engage in these sorts of operations are defined in the first part of the Act, the General Principles
  2. Regulations of company activities: this section includes the laws that regulate commercial activities, notwithstanding the law at hand; the Civil Law and other relevant EU laws are included here.
  3. Restrictions on commercial activities: defined in this chapter are the regulated activities or the one for which companies in Latvia need to obtain special permits and licenses.
  4. The company name: the name appointed by the merchant and the one that will be registered; must include the necessary abbreviations and must not infringe on other existing names.
  5. The company type: the Act defines all of the types of business entities that can be incorporated in Latvia, including the general and limited partnerships, the limited liability companies and the joint stock companies.
 
Our team of agents can help you open a company in Latvia and observe all of the requirements for company name distinctiveness. Moreover, our specialists can also give you complete information about each type of legal entity. 
 

Company registration requirements in Latvia

 
An important chapter in the Company Act concerns the registration of the legal entity with the Commercial Register. This is a mandatory process and the following details are recorded upon registration: the name of the company, the address, the amount of contribution made to the company or partnership as well as the identification details for the partners or the founders. The Commercial Register can be publicly searched upon request by interested individuals.
 
Our agents who specialize in company formation in Latvia can give you complete details on the documents and forms that need to be submitted with the Register in order to open a business.
 
Contact us for complete company registration services in your Latvian city of choice.
 

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