A project in Latvia?
Latvia isn't yet part of our established network of local contacts. We assess every project case by case, though, and can bring in a trusted local partner (lawyer, accountant) if needed to create and direct your structure.
The path to creating a SIA in Latvia, step by step
These timelines assume a complete file (ID documents, supporting evidence, governance decisions made): an incomplete file is the single most common cause of delay, ahead of the administrative timelines themselves. Once the file is genuinely complete, expect generally 3 days (electronic route) for the legal process itself.
Minimum share capital: €2,800 (reduced-capital SIA: from €1).
Project scoping & complete file
Gathering ID documents, mandate, governance decisions and choice of bank — the essential groundwork for the legal timelines below to actually start running.
Electronic filing via the Registry portal
The Enterprise Register accepts incorporation documents electronically, signed with an e-signature or eID card.
Notarisation if sent by post
If documents are sent by mail rather than filed electronically, signatures must be notarised.
Standard review timeframe
Standard registration timeframe for a complete file.
Bank account opening (KYC)
Customer verification procedures can be lengthy, especially for international business or a foreign founder.
Safety margin — opening the bank account
On top of the legal timelines above, allow one week of banking margin: KYC checks, extra documentation or a branch appointment can extend account opening, particularly for a non-resident director.
VAT
| Taux | ||
|---|---|---|
| Standard rate | 21% | |
| Reduced rates | 12% | bread, dairy, fresh poultry meat and eggs, 1 July 2026 to 30 June 2027 |
| Reduced rates | 5% | books and press in certain languages |
Corporate tax
20%, due only on distributed profits (same mechanism as Estonia).
Is a visa required?
No for incorporation itself. To act as director while residing in Latvia, a work visa or residence permit is needed.
Information provided for guidance (July 2026), subject to change depending on local regulation, the bank and the relevant authority. We confirm the precise timeline with you during the initial assessment of your project.
Opening a bank account
Is presence in Latvia required?
No residence permit or Latvian nationality is required for incorporation. An additional registration form for the register of natural persons is required for foreign citizens, filed alongside the incorporation documents.
Observed timeframe to open the account
3 business days in theory, but the main delay factor remains the bank account opening itself (KYC), particularly for a foreign founder.
Share capital deposit
Minimum share capital: €2,800 (reduced-capital SIA: from €1).
Ultimate Beneficial Owner (UBO) register
Every director or shareholder must be declared as an Ultimate Beneficial Owner (UBO) in the national register — a requirement stemming from EU anti-money-laundering directives (or equivalent standards outside the EU). Bank scrutiny is heightened in two situations common among international clients: when a shareholder or director is a US citizen or US tax resident (FATCA then imposes extra reporting obligations on the bank, which can slow down or complicate account opening); and when a shareholder is based in an African country rated higher-risk by the FATF (extra proof of the origin of funds, longer KYC validation times). We anticipate this with you from the initial assessment if your structure involves such profiles.
Information provided for guidance (July 2026), subject to change depending on local regulation. We confirm the applicable detail with you during the initial assessment of your project.
Selling on-site and clearing customs
Securing a premises or retail location
Commercial lease and registering the establishment with the enterprise register (Uzņēmumu reģistrs).
On-site sales & till
An electronic fiscal till (EKA) is mandatory for recording retail sales.
Cash register suppliers
- SumUp
- Zettle (PayPal)
- myPOS
- Shopify POS
- Lightspeed
Payment providers for small businesses
- Paysera
- Stripe
- PayPal Business
- Adyen
- Montonio
Indicative, non-exhaustive list of examples of solutions present on the local market — availability and terms change quickly; we help you select the best-suited offer during the assessment of your project.
Customs & ATA carnet
To exhibit or sell equipment at a trade fair, the ATA carnet allows temporary import of goods — professional equipment, samples, stand fittings — without advancing customs duties or import VAT, provided they are re-exported within the allotted period (generally 12 months, sometimes 6 months for fair equipment). The carnet is issued by the chamber of commerce in the country of departure and recognised across the international network of ATA Convention countries, a network that covers Latvia.
Importing products from outside the European Union
To import goods from a non-EU country (China, the US, etc.), an EORI number is essential for any customs procedure. Customs duties depend on the tariff code (combined nomenclature) and the product's origin; import VAT is then due at the rate applicable in the destination country, generally recoverable if the business is VAT-registered. Depending on trade agreements in force, some products benefit from reduced or zero duties on presentation of a certificate of origin. The competent authority for these procedures is State Revenue Service (VID) — Customs.
On-site consumer rules
A sale concluded in person at a stand during a trade fair that is not your usual place of business is generally classed as an "off-premises" contract under the EU Consumer Rights Directive (2011/83/EU): the customer then has a 14-day right of withdrawal, subject to exceptions (personalised, perishable or sealed goods). This principle, harmonised across the EU/EEA, applies in Latvia — we check the local details with you based on your sales activity.
Information provided for guidance (July 2026), subject to change depending on local regulation. We confirm the applicable detail with you during the initial assessment of your project.