Guide on the deletion of a Commercial Pledge (CP)
A commercial pledge is the right of pledge registered with the Enterprise Register under the Commercial Pledge Law. A pledge’s subject may be a tangible, or an intangible asset owned by a legal person, assets subject to registration, stocks, shares, and bonds. The subject of a pledge cannot be a ship, financial instruments in a […]
Changes in the composition of representatives of a foreign representative office
The representative office of a company in a foreign country is independently registered as an entity or a public or non-profit registered and located in the Republic. Although an entity, these offices are not allowed to carry out business activities or involve in economic activities in their stead. However, they can represent or stand in […]
Guide on changing the beneficial owners of the foreign representative office
A representative office of a foreign country must be registered as an independent entity within the country. However, it may not conduct business activities as its parent company. This means that the RO is just an office in a foreign country that can serve as an entry point into the foreign market for the parent […]
Guide on changing beneficial owners of a foundation
Starting an organization in the country is easy. It simply must be registered with the Commercial Register via the submission of an application form. An existing organization can decide to reorganize or make changes to itself. As per the law, this change must be reflected in the register, thus an application should be filed no […]
Everything you need to know about commercial pledge
A commercial pledge allows a pledgor to retain possession of a pledged item. It does not presume that a securable claim exists and cannot be extinguished after a claim is terminated. Provisions of registered security over movables in the Law of Property Act may apply to this pledge unless otherwise stated. A solution to securing […]
Everything you need to know about foundations
A foundation is a type of nonprofit corporation or trust, which provides funds and support to other charitable organizations through grants. There are two forms such as public charity foundations and private foundations. They can also refer to organizations, institutions, or individuals not involved in public grant-making. The revenue of a private foundation comes from […]
Foreign representative office registration guide in Latvia
The representative office of a foreign company is an independent part of the organization usually registered in a foreign country as a public or non-profit organization. A representative must be registered in the register of representative offices. Representative offices in the republic cannot carry out commercial activities and are not seen as legal entities. It […]
Foundation registration guide in Latvia
A fund that is established within a foundation that has been granted tax-exempt status contains the Founder’s Endowment as one of its primary purposes. One person or more than one person can establish it, and once it has been registered into the register, it is considered to be a legal person. The categories of activities […]
Association registration guide in Latvia
Associations are voluntary non-profit unions of members that are formed to work toward a goal that is outlined in the articles of association. Legal entities and even partnerships can have ownership over them. To register a corporation of this kind, you need the participation of at least two people. The Cabinet Regulations classify associations under […]
Reasons to use a company formation agent
If you’ve never formed a company, the business incorporation world may seem intimidating. The jargon, legal requirements, and registration procedure are simple to understand if you work with a business formation agent. What is a company formation agent A company formation agent is an autonomous entity that establishes corporations on behalf of other persons. This […]