In the acquisition of a stock company in Latvia, there are processes. Each company involved in the reorganization process submits an application to the commercial register authority after securing creditors’ claims. This should not be earlier than three months after the publication date of the notification, this is to enable an entry made in the commercial register. Each company is expected to submit its copy and this includes:

• Application form KR11
• A duly certified copy of the organization contract
• Minutes of the meeting of shareholders in which the decision of reorganization is taken
• The list of members who voted against the reorganization 
• A permit for reorganization (in cases specified in the law)
• Reorganization prospectus (specified in the law)
• Opinion of the auditor
• The merging company closing financial statement
• A copy of receipt or printout of an online bank payment or information regarding the payment of the stat fee. National fees are paid separately.

The time limit to submit the document to the enterprise of the registry is 14 days from the drafting of the draft reorganization.

In the case of an increase in the share capital of the acquiring company at the time of reorganization or any other changes related to the reorganization, all documents related to the increase in share capital or relevant changes must be submitted as an addition.

Finding 

If the reorganization results in an increase in the acquiring company’s share capital, there will be an additional submission of the assessment of the relevant part of the property.

Conditions for the 

• The auditor gives an opinion of the reorganization decision concerning the property assessment if he or she assesses it.
• Any person on the list of evaluators for the property contribution of the enterprise register delivers the opinion of the reorganization decision if there is no auditor.

Completing the registration form

The management board of each company separately signs the copies of the application form.

Paying the fees

The state fees are paid before submitting the documents for registration. The enterprise register makes sure the state fee is credited into the treasury account. The state fee is effected through a transfer to any bank 2 days before submitting the documents either electronically or by post.

The state fee for each participating company is EUR 75.00, and the national fee is paid separately for a copy of each draft public contract, in the situation of the two participating companies, they paid EUR 150 each.

Submitting the documents

The management or an authorized person submits the application and document through

Electronically signed in e-address or e-mail. 

The documents to be submitted electronically are:

• Documents signed with a secured electronic signature issued abroad are submitted via these channels are accepted
• Information concerning service pay is compulsorily added
• E-address is a safer communication channel between the individual and the country.

By Post

• All signed documents are sent to the enterprise register
• It is required that the message should be accompanied by information about the service payment.