Start a Software industry business in Latvia
Competitive advantages for investors in Latvia’s IT sector come from the availability of skilled IT workers, language skills, a mix of Western-style work culture, and proximity to and closeness to the country’s major cities. knowledge of the Russian market. The Latvian IT sector accounts for around 4.3% of GDP in 2018. Today, Latvia is one […]
Division with establishing a new Stock Company in Latvia
A stock company also known as SC or AS is a corporation whose shares and stocks can be publicly traded. If shares are sold to the public, it is a joint-stock company. The Enterprise Register allows the registration of stock companies only but has no registers on shareholders, thus it shouldn’t be informed of changes […]
Tax debt guide
Taxpayers may submit a motivated written application to the SRS requesting that the SRS adopt a decision on voluntary payment of delayed taxes by setting a deadline for the taxpayer for a term of up to three years if a decision on the recovery of the delayed taxes has already been adopted concerning the taxpayer […]
Financing options for a small business in Latvia
A federal survey taken in 2019 found that 44% of small business owners borrowed money to cover costs. “There’s no surprise there. We’ve been closed. No money has been coming in for us. Of course, small business owners took out loans to maintain their cash flow.” In other words, obtaining a company loan is not […]
Liquidation or Termination of Activities of a Sole Trader in Latvia
An individual merchant at liquidity or termination of the action is expected to apply to be excluded. This application is called the exclusion of a merchant from the commercial register to the Enterprise Register authority. The document to be submitted include: Application form KR14 A copy of the receipt, a printout of the online bank […]
Reasons to outsource an accountant
Depending on the size of a company, accounting services can be outsourced to professionals working for business support services providers. A business owner who is focused on the growth of his or her company is aware of the need and value of outsourcing. Companies can assign some of their bookkeeping and accounting activities to outside […]
Everything you need to know about European Economic Interest Grouping (EEIG) in Latvia
European Economic Interest Grouping (EEIG) is established on a contract of formation between at least two companies or legal persons aimed at facilitating the economic activities of the members. The sole purpose of this grouping is not to make a profit. The activities of an EEIG must relate to the commercial activities of its founders […]
Transferring property from one foundation to another
A foundation may be set up by a set of people, legal structures, or associates with akin ambitions commonly spelled out in the articles of association of the organization. Entering foundations into the register of associations and foundations always require at least two persons and lasts seven days. An acquisition is said to have occurred […]
Change of the equity of a Stock Company in Latvia
The introduction of the Euro in Latvia made capital companies carry out nominal changes (changes in the share capital to the euro). These companies had to apply to the Commercial Register authority to change the records of the Commercial Register or registration of documents (adding to the registration file), they also had to apply for […]
Guide on buying a business
You may want to think about purchasing a business if you want to start your own business without having to start from zero. But several would-be business buyers are unsure of where to begin. You can manage the process with the support of company brokers, online markets, and a ton of other resources, thankfully. Every […]