Reasons to do business in Latvia:
- Latvia provides a strategic location for business operations targeting developed economies of the EU and emerging markets of eastern neighbours.
- Latvia is an EU country, a member of Schengen and an active participant of the World Trade Organization.
- Latvia’s workforce is ranked in the top five in the world in terms of university students per capita.
- Latvia has one of the fastest telecommunications infrastructures in the world.
- Latvia’s position in the global market offers investors both opportunity and stability.
- Latvia offers significant cost advantages to investors.
- Latvia`s tax system has been recognized as 2nd most competitive in the world.
How to set up a business
- Select a name and decide on the type of business – individual merchant, Limited Liability Company, joint-stock company, partnership, branch and representative office. For more information on the types of business click here: https://investinlatvia.org/en/useful-information/why-invest/starting-your-business
- Set up a bank account. You can find a list of banks in Latvia here: http://www.fktk.lv/en/market/credit-institutions/banks1.html
- Register your company in the Commercial Register. More information available here: https://www.ur.gov.lv/lv/. All the documents for registering a company will have to be submitted in Latvian.
- Register as tax payer at the State Revenue Service: https://www.vid.gov.lv/en/taxes
- More information about the investment environment in Latvia: https://investinlatvia.org/
More information on taxes, intellectual property rights, sectors and industries, regulation on competition, mergers and acquisitions is available here: https://investinlatvia.org/en/resources