Guide on liquidation of a foundation
A foundation is an organization set up by persons looking to achieve the same purpose. A foundation can consider liquidation in the event of certain challenges such as bankruptcy. Liquidation is the process whereby an organization puts an end to its activities and ceases to exist in the Register of associations and foundations. The activities […]
The roles of a company director and secretary in Latvia
A director and a secretary are vital members of a corporation and are responsible for the efficient operation of the organization. After forming your firm, you must know all of its members, including their positions and obligations, especially the director and secretary. Company directors Good governance and board effectiveness are more important than ever for […]
Amendments to the articles of association of a foundation – full guide
Foundations are forms of organizations founded by beneficial owners who can be part of the management boards. The registration of a foundation has a timeline of seven days to process by the Enterprise Register. Because an organization cannot operate without a certificate of registration, foundations have to register themselves in the register of associations and […]
Corporate income taxation in Latvia
The Corporate Income Tax Law, which went into force on January 1, 2018, and Cabinet Regulation No. 677, titled “Regulations on the Application of Norms of the Corporate Income Tax Law,” are used to assess corporate income tax. Conceptually new company income tax payment options are defined under the Corporate Income Tax Law. The law […]
Latvian Limited Liability Company renewal of activities
The meeting of groups shall have the right to decide on the renewal of operation before the deadline for suspension has expired. However, after the expiry of the term, without taking a separate decision, If the company itself has not brought back the duties before the period of suspense of exertion. According to marketable law, […]
Regulations in Latvia to sell online
Latvia has the fastest broadband internet speeds in developing Europe and is ranked 16th globally. Latvia has a total population of 1,929,938, with 1,491,951 Internet users, giving it a 76.30 percent Internet penetration rate. According to government statistics, 46 percent of Latvians made internet purchases in the previous year. Many Latvian businesses have developed incentives […]
Reasons to trademark a business
Everyone often interacts with trademarks, whether they are conscious of them or not. The term “trademark” is equally applicable to brands. Consumers’ purchasing decisions are influenced by a company’s reputation and trademarks. Businesses need to understand why trademarks are significant assets that contribute to organizational growth. Below are the most important reasons why trademarks are […]
Benefits of being VAT registered
Value-added tax, or VAT, is a tax that Her Majesty’s Revenue and Customs collects (HMRC). It is a charge placed on products and services. 20% is the typical VAT rate. A reduced rate of 5% and a zero rate of 0% are both available. Most things will have their taxes collected at the usual rate, […]
Share certificate explained
When a share of a corporation is granted, a share certificate is also issued. This could occur at the moment the company is initially registered or later. A certificate confirming the total number of shares each shareholder owns as well as the specific class of shares is sent to each shareholder. A certificate only needs […]
Bank account opening in Latvia
Latvia’s capital Riga attracts many people, which means it is growing bigger every day. People seek a quality of life, European culture, warm people, and beautiful architecture. As a student, worker, or investor in Latvia, it is important to know that there’s a need to open a bank account. To open an account, a valid […]