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Articles
Virtual Office in Latvia
Updated on Wednesday 18th May 2022
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The virtual office is a physical address for the business, complete with selected office services, as needed but without the usual costs needed for renting a permanent office space and providing for the same office services.
The virtual office in Latvia is an alternative way of setting up a location for a business. It offers a registered address location for the business, access to different corporate services and it does not affect the Latvian company’s professional image.
| Quick Facts | |
|---|---|
| Activities to be carrieded out in virtual offices in Latvia | Business activities that can be performed mainly remotely |
|
Is it necessary to hire a secretary in a virtual office? |
It is not necessary. You can use the secretary’s services to answer your calls in the local language. |
|
Does virtual office cuts out commute? (Yes/No) |
Yes |
| Do virtual offices in Latvia also include the expenses of owning an office like traditional ones? | All the costs are included in your package. |
| Advantages of a virtual office in Latvia |
- work remotely, - cost-effective, - prestigious business address etc. |
| How can you depict a professional image of your business by using a virtual office in Latvia? |
- having your company registered at a well-known business district address leaves a professional impression on clients and partners, - you can work from anywhere in the world, but still have meetings in a professional environment |
| Basic steps for having a virtual office |
- contact our team and ask for an offer, - choose the proper package, - use your virtual office in just a few days |
| Is a virtual office less expensive than a traditional office? (Yes/No) |
Yes |
| Is it required to have a virtual office for business registration? (Yes/No) |
Yes, if you don't have your own business address for registration. |
| How long does it take to have a virtual office? | 1-2 days |
| Are virtual offices more cost-friendly than traditional offices? (Yes/No) |
Yes |
| Does a virtual office allow for business expansion? (Yes/No) |
Yes |
| Are virtual offices 24/7 operational? (Yes/No) |
It depends on your package. |
| What is the general period of virtual office renting contracts? |
12 months |
| Can you select virtual office package as per the need of your business? (yes/no) | Yes |
Our specialists in Latvia are at your service with virtual office packages in various cities.
Virtual office services in Latvia
The list below highlights the four main characteristics of a virtual office, the main reasons why investors in Latvia find it very convenient to work this way:
- Business image: virtual offices are usually offered in prestigious business locations, modern office buildings that are generally very accessible. This offers a prestigious business image due to the upscale location.
- Economy: the costs associated with choosing to work via a virtual office are considerably lower than renting, staffing and equipping a traditional office space, from scratch.
- Less office management: usual office management issues are not being taken care of by the company that works via the virtual office but by the ones who provide these services; this can be an important time saver.
- Special services: the virtual office package will not only include the physical address but also office space as needed, secretarial services, mail collection and many others, as needed.
Our team of company formation agents in Latvia can provide a complete virtual office package for those local and foreign entrepreneurs in Riga.
Flexibility, a key advantage of a virtual office
Virtual offices are cost-efficient because they do not imply the same upkeep costs associated with traditional office spaces (rent costs, equipment needs, and staff costs). Instead, entrepreneurs, consultants, and start-ups in Latvia can choose to work via a virtual office, a dedicated space that will provide the needed business facilities with no need to handle the office management.
The location of a virtual office in Latvia is often in a central and easily accessible place, with modern facilities and finishing, projecting a professional business image. The basic secretary services are handled by a dedicated receptionist who answers the calls and forwards them as needed to the company owners.
An important advantage for investors in Latvia is that working through a virtual office resolves the issue associated with having to have a registered office at the time of the incorporation. The location of the virtual office will be used for registration purposes.
Virtual office package in Latvia
The virtual office package in Latvia offered by our team of Latvian company formation agents includes:
- - registered address at a modern location;
- - local telephone number;
- - call answering and forwarding;
- - mail forwarding to address of choice;
- - access to office and meeting room space.
Telephone calls received at the virtual office dedicated number will be answered in your company’s name and forwarded as per your instructions. What’s more, our agents will also provide complete fax and mail forwarding services, as needed. This, complete with our additional services for companies, will help you maintain a professional business image.
Our additional virtual office package services include extra meeting and office use and IT solutions.
Who can use a virtual office in Latvia?
From regular persons who need to have their own places they can keep in touch with clients to small business owners and companies can take advantage of a Latvian virtual office which is a cheaper alternative to a traditional space rented to complete the same activities.
What must be considered is that the virtual office is actually a service, and it is based on a contract signed on a definite period. Also, this service is more suitable for some activities than others. In most cases, virtual offices located in the most important cities in Latvia, such as the capital, Riga, are employed by foreign entrepreneurs who create businesses here and need quick solutions for the registered address of their local business.
Our company formation agents in Latvia can offer more information on who can benefit the most from this service and how to use it to the best of its advantages.
Virtual office services for business purposes in Latvia
Most entrepreneurs research the requirements for starting a company in Latvia and they are acquainted with the one implying the need of a legal or registered address in this country. This is one of the main business uses for a Latvian virtual office. The others refer to:
- having a point of contact is a Latvian city when the company in registered in another region;
- having a presence in Latvia before establishing a business presence here;
- having a small office before the actual expansion of a business which requires a larger office.
The virtual office is one of the most versatile services that can be employed by both local and foreign investors who decide to run their operations in Latvia.
There are a few important things to consider when choosing to use a Latvian virtual office package for incorporating a business with the Trade Register. The service can be used temporarily and the address on the contract can be used to demonstrate the legal address of the future company, however, after establishing the company, the owner will need to find a suitable place as a permanent registered office. Even so, the service can still be used to fulfill other needs of the business or the owner.
When deciding to test the Latvian market, the liaison office is the most legal suitable structure, however, the virtual office can be used for collecting marketing materials and messages from prospective clients or business partners.
Companies with established presences in Latvia can also use virtual offices in other cities with the purpose of creating new contact points across the country.
Foreign investors in need of a reputable address can use virtual office services in Latvia as these are usually located in well-known business centers and are easy to find. Furthermore, these also have access to conference rooms for important meeting they need to attend. Also, should they arrive in the country the same day of the meeting, prior booking is required.
Why choose a virtual office and not a traditional one?
Although a few years ago, the virtual office was not one of the most popular choices among companies or businesspersons, the development of numerous business centers has led to the expansion and acknowledgement of this service thanks to several advantages compared to a traditional rent. Among these:
- - the cost which favors the virtual office;
- - the fact that no maintenance requirements apply in the case of a virtual office;
- - the possibility of using the virtual office for various purposes;
- - there is no need to relocate employees or hire someone specifically to work from the virtual office.
A Latvian virtual office comes with the all the needed equipment for communication, however, specific items can be included in the contract at the request of the user. Moreover, the contract can comprise specific terms and can be personalized in accordance with the additional services included all at much lower costs compared to a traditional rented office space.
You can rely on us if you need virtual office services in Latvia. Our advisors can propose several options you can choose from based on your needs.
The Latvian economy
Latvia is one of the most prolific economies in the European Union, as according to statistics:
- - in 2019, its economy expanded by 2.2%;
- - 2020 was a hard year as for all countries in the world, however, for 2021, an economic increase of 2.4% is projected;
- - for 2022, a 4% Gross Domestic Product (GDP) growth is projected by the Organization for Economic Co-operation and Development (OECD).
If you are considering starting a business in Latvia in 2021, our specialists are at your service with tailored advice and support.
Contact our company formation agents in Latvia for complete details about the virtual office packages we provide and the locations in the country.
Meet us in Riga
Call us now at +372 51 50 803 to set up an appointment with our lawyers in Riga, Latvia. Alternatively you can incorporate your company without traveling to Latvia.
As a Bridgewest client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Latvia.
Contact us