Food and beverage production market overview in Latvia
Latvia is one of the greenest nations in Europe and has one of the largest percentages of land used for organic farming, which is constantly increasing as the demand for organic food rises. Its subsectors, particularly fruit and vegetable, fish, and grain, have a considerable export capability. Investors have a wide variety of options in […]
Support for public benefit organizations
An important advantage of public benefit activity is that it helps society, specifically, in many different ways. This includes charitable giving, the defense of human rights and individual freedoms, the growth of civil society, the advancement of knowledge, the advancement of culture, the promotion of health and disease prevention, the support of sports, the preservation […]
Starting a Pharmaceutical Business in Latvia
Latvia’s medical services sector is heavily influenced by the government. The state owns all of the key hospitals and rehabilitation institutions, and the state budget provides centralized funding. As a result, state-run tenders account for a significant portion of medication and pharmaceutical procurement. The pharmaceutical retail and wholesale industry, on the other hand, is left […]
Taxation in free ports and Special Economic Zones in Latvia
Latvia has three Special Economic Zones (SEZ) and two free ports: Rezekne SEZ, Liepaja SEZ, Latgale SEZ, Riga free port, and Ventspils free port. Investment in manufacturing and diverse service sectors is encouraged by SEZ and free ports. Since their position provides for easy access to Latvian ports, airports, trains, and any other area via […]
Latvian Limited Liability Company Preliminary check for documents
The preliminary approval of the documents is the first step of the draft operation and the accompanying documents previous to the submission for enrollment. In the pre-commissioning of the documents, the State notary shall perform a verification of the documents and data, which is specified in the nonsupervisory enactment regulating the conditioning of the applicable […]
Changing the principal activity of an association
An association is said to be a nonprofit organization formed by a union of people with similar interests looking to achieve a common purpose. When the organization is established, it is registered in the Register of associations and foundations in the country. Associations registered in this register can apply for registration of changes made to […]
Changing the Legal Address of a Stock Company in Latvia
Changing a company’s registered address in Latvia can be changed on two bases; either through the company’s application or the decision of the local government. This is accrued to some processes which follow after the company’s application. Checking the Address To start the application, the registered office address of the company entered in the commercial […]
Required licenses for Transportation and Storage business in Latvia
The structure of Latvia is excellent for developing the storage and transportation sectors. The transportation and storage industry shows potential when examining the Latvian market. In 2019, this industry contributed around 9% of the GDP. In other countries in the region, the transportation and storage sectors are tightly related to commercial vehicles. On the other […]
Guide on changing the principal activity of a foundation
As a charitable organization started by a person or group of persons seeking to achieve a common aim, foundations are usually registered in the Register of associations and foundations. Foundations have to apply for registration in the Register when they make changes to certain information such as the principal activity. Applicants should only change a […]
The personal income tax system in Latvia
The 1993 adoption of the Personal Income Tax Law established the taxing of individual income. Depending on their place of tax residence, expatriates may be required to pay Latvian taxes. Residents of Latvia are subject to taxation on their international income. Non-Latvian citizens are responsible for any money earned there. Latvian residents According to domestic […]