STARTUP SUPPORT

From 2009 to this day capital of Latvia council, in cooperation with numerous partners, implements a grant programme “Kick off” aiming to encourage the establishment of new, innovative companies and innovative development of existing companies in Riga administrative territory. Within the programme it is possible to receive co-financing of 80 % for covering various expenses of new merchants – for purchasing specific technical equipment and licences, accounting and legal-consultant service fees, website development, specific employees’ training, creating marketing materials, costs of rent and improvements of premises, etc. Starting year 2019 the most grant out there for one merchant is 25 000 EUR. The open call of the grant programme is organised once a year.

A LOT OF GOOD EMPLOYEE OPTIONS

Latvia has a great selection of dedicated and committed students, and there are oh so many to come. There are a lot of good knowledge institutions, and even more career paths to be chosen. It is certain that you won’t have a problem finding someone for exactly your needs.

LATVIA IS A LOGISTIC HUB OF EASTERN EUROPE

• 3 large seaports;
• Convenient transport and rail junctions;
• Two hours away by plane from any European capital;
• ​Developed infrastructure;
• Developed technical and IT fields;
• One of the fastest Internet connections.

If logistics is vital to you, register a corporation in Latvia. It is an exquisite idea because you’ll have all the possibilities to deliver your goods to your customers. Latvia is exceptional for setting up an outpost for import to CIS.

When you are in Latvia, you’re still within the Eurozone. Here you can hire highly qualified specialists, who can speak fluently in both Russian and English. Latvians know how to manage partners from CIS which is a huge advantage.

HIGHLY ADVANCED INTERNET DEVELOPMENTS

Latvia ranks among the top ten countries globally by the average measured internet connection speed. In 2012, the so-called Baltic Highway, a modern data transmission network, was launched. Whilst increasing the access speed to international web-based content, it has allowed the development of internet-based-services in the East and West directions. The high capacity infrastructure offered by the Baltic Highway provides considerable investment opportunities for the national data-intensive companies, and also offers a robust and low latency bridge to all Baltic States, as well as the Russian and Asian regions.

CULTURE AND HUMAN POTENTIAL PECULIARITY

Up to 95% of the population speak at least two languages (Latvian and Russian). It is widespread to speak one more language – English (young people).

Aligned business connections not solely with the eu Union, but additionally with CIS countries. It is a good help in getting into European markets.

Deliberate but persistent and hard-working local people. This is the case when everything will be done without hurrying and rush but solidly.

If you would like to distance yourself from crisis markets to sustainable zones with Euro as a currency, registering a company in Latvia is one of the most sound ideas. You will have at your disposal the set up connections and people who are able to effectively communicate with Europe and CIS countries.

NEW TAX CONDITIONS FOR HOLDINGS

Why is registering a corporation in Latvia even more beneficial now?

Starting from 1st January 2013, some changes have been made to the legislation, which has significantly improved investment climate in the country.

Which potentialities did corporations in Latvia and potential investors non-residents receive?

Income tax is not deducted now from:

•  Dividends, which Latvian companies pay to non-resident;
•  Dividends, which are received from non-residents;
•  Income from selling subsidiaries bonds;
•  Interest, that is being paid to non-residents;
•  Royalties that are paid to non-residents.

In such a way, holdings received loads of serious benefits of working in Latvia.

FREE TRADE

Latvia’s external trade and customs policy is predicated on free trade principles. Latvia is an EU country, a member of the Schengen agreement, member state of the Organisation for Economic Cooperation and Development (OECD) and an active participant of the World Trade Organization, enjoying all the advantages of free and open trade in the world’s markets. Customs and border procedures have been regulated for effective planning and coordination with trade partners around the world.

THANKS FOR THE READ

I do hope the information was enough to persuade you into making a company in Latvia. Other than that if you have anything to ask don’t hesitate to do so.