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 […]
Open a Bank Account in Latvia as a Non-Resident
Many expats are flocking to Latvia because of its breathtaking natural scenery, cities brimming with cultural attractions, innovative gastronomy, and welcoming people. More and more people are moving to this Baltic European treasure, which has one of the lowest living costs in the European Union. How to handle your funds is naturally a concern for […]
Latvian Limited Liability Company moving a company address to Latvia
With its features, Latvia is tearing through being the new center of an eye-catchment for foreign investors. Numerous companies transfer some operations there or start a new company. Factors like being a member of the EU, being veritably near to European and Russian market requests, and being veritably near to important roads are the major […]
Information and Communications Technology market overview in Latvia
ICT development trends provide doors to new possibilities. Information and communications technology (ICT) is a forward-thinking industry that is one of Latvia’s fastest-growing sectors. In terms of mobile use (23 GB), Latvia is third among OECD nations and has the world’s 33rd fastest internet speed. It was also one of the first nations to have […]
Moving a company address to another country of a Stock Company in Latvia
A Stock Company shorten as AS is a business structure that allows the sale of its shares and stocks to persons and corporate bodies other than its shareholders. It is recognized by the Enterprise Register of the country. The transfer of the registered office of a capital company from a Member State of the EU […]
Procuration of a Sole Trader in Latvia
Procuring happens after a merchant is satisfied with a certain statement of will, the statement of will that gives the go-ahead. It should be noted that more than one person can be given joint procuration at the same time. This is when the joint procurator is given to two people. They both have the right […]
Advice for startup companies in Latvia
Nowadays, almost everyone in Latvia wants to start their own business and create “the next great thing.” One cannot blame them. Latvia offers great economic opportunities for new startups. Also, launching a profitable business has many advantages, like being your supervisor, building something from nothing, helping those around you, and, generating some money in the […]
Required licenses for water supply, wastewater, water management, and recovery business in Latvia
If a firm provides more than 100,000 m3/year of services for at least one of these four service categories, the PUC will control both sewerage and water supply services in the sector. A public service provider needs a tariff that has been authorized by the regulator to provide water management services. They also need to […]
Company car taxes in Latvia
If the employee or their family is permitted to use the business automobile for personal purposes, they are responsible for paying the company car tax. For taxation reasons, it is seen as a perk offered by the company and is regarded as a benefit. The commercial car levy intends to impose a fee on vehicles […]
Changes in the Beneficial Owners of a Stock Company in Latvia
Being a beneficial owner of a stock company in Latvia requires passing through processes specified by the Enterprise Register of the country. It is important to know these processes to ensure that the person can own stocks in a company. The law on money laundering and terrorism financing in Latvia describes a beneficial owner as […]