Before starting up business in Latvia, you should answer very important questions:
· As a first step, you have to decide what type of business to register (sole trader or partnership, joint stock company or the most popular type - limited liability company).
· Secondly, you have to pay the equity capital of the company and choose a tax regime. (You have to pay attention to such things as micro-company tax or standard taxes; as well, you have to decide whatever to register your VAT number and to become a Vat payer or not to register it at all).
· Thirdly, you have to clarify to yourself how do you want to register the company (there are two options, you can register it without coming to Riga or you can arrive in Latvia personally to solve all the formalities.)
If you have the possibility to come to Latvia, we will prepare in advance all the incorporation documents to sign, afterwards we will organize you a meeting with the notary to certify your signature on two documents. (One of them is an Application to Register a Capital Company and the second one is the Compartment of Registry of Shareholders). We will arrange all the cases related to translation or legalisation of the documents (if needed), all you have to do is to provide us the necessary documents.
We always try to offer the best solution to our clients, so if you want to open a temporary bank account before the incorporation of your company, we will consult you about all the tiny details connected to bank opening and will offer you the most appropriate bank that satisfy all your needs. You must know that if the equity capital of you company is 2800 euro or more, you will need to open a temporary bank account before submitting the documents to the Register (and the part of the amount must be paid in cash).
When your company will be incorporated and we will receive the decision of the Register, our lawyer will prepare the contract about online submission of tax returns and will submit it to the tax authority. If all of your clients are from EU countries, it’s in your interest to become a VAT registered company. We will prepare all the necessary documents for you to sign (for this procedure we will need you as well to provide us the information about your business activity and your business partners) . According to the Latvian law, the company pay taxes and submit monthly tax reports, must do accounting and keep all the records. We can offer you the most profitable accounting package and help you in your business with the best solutions about taxation and the best advises in legal cases.