Investors who open a travel agency in Latvia
can offer diverse travel packages, weekend tours, and health and wellness trips to their clients.
Latvia is a beautiful country that can be explored in a relaxed city break or in a lengthier, active holiday. Its capital, Riga, offers a unique mix of cultural sites and entertainment options and can be an interesting destination for city lovers. But the country shows its true beauty to travelers when they venture further from the cities, in the natural parks or in a seaside resort. Medieval castles and port towns are also some interesting options for those who wish to explore the small Baltic country.
Starting a travel business
presents numerous opportunities, as many as the country’s beautiful sites waiting to be discovered. Investors in Latvia who wish to open a travel agency
can start with a business plan and conduct a market research. From then, the company will begin to emerge once the foundations for the brand have been set and the founders decide to open a company in Latvia
Choosing the city where the travel agency will be based is important even if the business will also offer online packages and options. Having a registered office in Latvia is a prerequisite for opening a company and setting up an office, preferably in a large city such as Riga
or in another tourist spot is recommendable in order attract online clients as well as on-site visitors.
What are the requirements for travel agencies in Latvia?
Tourism is well-developed in Latvia especially since the country offers various options, from business or medical tourism to holiday travel and cruises and many different package tours.
Many travel agencies will focus on the capital city, Riga, but providing unique packages for more adventurous tourists is also a niche worth exploring by investors in travel businesses. Examples of Riga city break packages include those that offer traditional sightseeing itineraries or more personalized experiences such as a tour of the chocolate factories or night tours. Medieval or folk experiences, as well as custom shopping tours, are also interesting options.
An alternative that can be explored by travel agencies in Latvia and one that is often employed by large companies that have branches in Latvia and in the other Baltic countries is to provide tours in all of the Baltic capitals. These packages include multiple stops and will focus on allowing tourists to discover Riga but also Vilnius.
Travel agencies in Latvia are required to observe the general requirements for company registration and after there are incorporated, register for tax and social security purposes. The Labor Law requirements, as well as the accounting and reporting principles applicable in the country, will need to be observed. In cities like Riga, tour guides will need to obtain a certification, based on their qualifications and attested by the Riga Tourist Guide Certification Commission.
How can you open a travel agency in Latvia?
- choose the business form: entrepreneurs can choose between the limited liability company, SIA, joint stock company, AS, branch or representative office for foreign travel agencies.
- draw up the company documents: these are the Articles of Association and will include information about the company;
- pay the share capital: this can differ according to the chosen type of company;
- register: the company is registered with the Commercial Register and after this step is complete it can begin its commercial activities.
These steps apply to travel agencies as well as other types of companies. Company registration in Latvia should last only a few days when all of the documents are in order. Foreign investors who wish to start a travel business in Latvia need not be present in the country at all times. With our help and through a special power of attorney, one of our agents can handle most of the steps on behalf of the foreign investor. You can always reach out to us to find out more about this option.
For more information on how to start a business in Latvia, and the conditions for opening a travel agency or another type of company, please contact
our agents who handle company formation in Latvia