Import and export in Latvia
is an important part of the country’s economy and export growth has had an important contribution to the country’s positive evolution, along with the rapid development of the services sector.
Investors who open a company in Latvia
that engages in export and import activities need to observe both the internal rules and regulations and the EU policies.
Which countries are Latvia’s main trade partners?
Latvia’s top export partners are Estonia, Lithuania, the United Kingdom, Germany and Russia, Sweden, Denmark. Top counties from which imports originate include Germany, Poland, Russia, Estonia, Sweden, Finland.
International trade companies that have operational bases both in one of these countries and in Latvia can benefit from the double tax treaties. One of our agents who specialize in company registration in Latvia can give you more details.
The main exported goods include wood and wood products, foodstuffs, packaged medicaments, refined petroleum, alcoholic beverages and other types of products, in lesser amounts. The country imports machinery and equipment, vehicles, chemicals, fuels, and others.
What is the process for company formation in Latvia for an import/export business?
- choosing the type of company and business name;
- preparing the incorporation documents: the Articles of Association.
Businesses that activate in the import/export sector need to observe the rules for strategic goods, those products, equipment, technologies or materials that are subject to more stringent policies for transit control. Examples include toxic chemicals, arms, weapons, and munitions.
Our team of agents can help you throughout the company formation process in Latvia
and can guide you on issues regarding the national import/export policies as well as those applicable to branches or foreign trade companies.