To operate a business in the republic, a business owner must register with the Commercial Register. There are different forms of business entities allowed to engage in commercial activities in the country. A common type is the limited liability company (LLC or SIA). This is a company whose equity consists of all its nominal value of shares. A limited liability company (LLC or SIA) can be a private entity whose shares cannot be sold to the public. The capital equity for establishing the structure is EUR 1-2799. All founders can only be natural persons, with a maximum of five founders. Only natural persons are allowed to be shareholders with a maximum of five individuals. The board management can only consist of its shareholders.
Incorporating a business
The process of setting up a business here has various steps. The first step is founding the business by one or more persons depending on the type of company, and the next step is registering with the Enterprise Register. After this, appointing the board members and the board itself comes next. Registration with the State revenue service for taxes and other purposes comes after. Finally, obtaining a business license to legalize the operations of the company in the republic and abroad.
Getting a business license
A business owner requires a certificate of registration as well as a business license to engage in commercial activities within the territory. The license is usually issued by a supervisory board that can suspend the license in the event of certain situations. The different types of licenses under the entertainment and recreation business are;
Gambling license
This is usually issued by the Lotteries and Gambling Supervisory Inspection of Latvia. If you require one or need to know more, visit the website on https://www.iaui.gov.lv/lv/azartspeles/azartspelu-licences/organizesanas-licence
Gambling venue license
This license is issued by the Lotteries and Gambling Supervisory Inspection. Information can be obtained at https://www.iaui.gov.lv/lv/azartspeles/azartspelu-licences/vietas-licence
License for organizing interactive gambling
Issued by the Lotteries and Gambling Supervisory Inspection to businesses in interactive gambling. You can learn more about this license on its website at https://www.iaui.gov.lv/lv/azartspeles/azartspelu-licences/interaktiva-licence
License to organize games of chance by phone
This is issued by the Lotteries and Gambling Supervisory Inspection and information is available at https://www.iaui.gov.lv/lv/azartspeles/azartspelu-licences/veiksmes-speles-licence
Gambling services license
To operate a gambling site in the country, the business requires this license. It is issued by the supervisory board which monitors the affairs of the business during operations. Read more on the license at https://www.iaui.gov.lv/lv/azartspeles/azartspelu-pakalpojumu-sniegsana.
National lottery license
All licenses in the entertainment and recreation business services are granted by the Lotteries and Gambling Supervisory Inspection unit. This license is only granted to business owners after applying. You may read more about it on its website https://www.iaui.gov.lv/lv/izlozes/valsts-meroga-izlozes.
License to organize a local lottery
For businesses involved in the local lottery, this license is issued by the board after registration. The Lotteries and Gambling Supervisory Inspection unit can only grant the license to businesses that meet the requirements. Find more information at https://www.iaui.gov.lv/lv/izlozes/valsts-meroga-izlozes to guide you on how to apply for and acquire this license.
License to organize a local one-time lottery
If one wants to organize a local lottery, he or she must first acquire this license. It is always issued by the Lotteries and Gambling Supervisory Inspection. Further information on this license is available at https://www.iaui.gov.lv/lv/izlozes/vienreizejas-izlozes.
License for organizing interactive lotteries
For businesses offering lottery services, this license is granted by the Supervisory Inspection board to applicants who meet the requirements. Find more information at https://www.iaui.gov.lv/lv/izlozes/interaktivas-izlozes
Lottery permit for goods and services
This license is granted to business owners in the lottery sector who require the permit to purchase and sell goods and services by the Lotteries and Gambling Supervisory Inspection. More information on the requirements to meet are available on the website at https://www.iaui.gov.lv/lv/loterijas
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