Before establishing a subsidiary in Latvia, you must first choose the right location and entity for your company. Separate localities, like as cities or regions, may be subject to different Latvia subsidiary laws. If you are unfamiliar with the regions of Latvia, we suggest dealing with a professional consultant who can assist you in locating the areas most conducive to incorporation.
The next step is to consider the various entities you may incorporate as. Latvia will enable you to incorporate as a limited liability company (LLC), a joint-stock company, a branch office, or a representative office. Each Latvia subsidiary arrangement has its own set of regulations, times, and constraints. Choosing the correct entity will affect what you can and cannot do as a business in Latvia.
The following actions are required to establish your Latvia subsidiary as an LLC:
1. Choosing a unique company name that contains only Latin or Latvian letters
2. Drafting Articles of Association and the Memorandum of Association
3. Depositing minimum capital into your company’s in-country bank account
4. Registering the subsidiary with the Commercial Register
5. Registering for VAT purposes depending on your company’s commercial activities
6. Obtaining any special permits and licenses that may apply to your industry