Accessing funding and grants for innovation projects in Latvia
Innovation is the engine of social advancement, and obtaining funds and grants is necessary to realize revolutionary notions. Rich in intellectual capability and cultural legacy, Latvia presents a plethora of business and innovation options. This post will walk you through the steps of applying for financial assistance for innovations in Latvia, emphasizing important resources and […]
Changes in the composition of representatives of a foreign representative office
The representative office of a company in a foreign country is independently registered as an entity or a public or non-profit registered and located in the Republic. Although an entity, these offices are not allowed to carry out business activities or involve in economic activities in their stead. However, they can represent or stand in […]
Foreign representative office registration guide in Latvia
The representative office of a foreign company is an independent part of the organization usually registered in a foreign country as a public or non-profit organization. A representative must be registered in the register of representative offices. Representative offices in the republic cannot carry out commercial activities and are not seen as legal entities. It […]
Foundation registration guide in Latvia
A fund that is established within a foundation that has been granted tax-exempt status contains the Founder’s Endowment as one of its primary purposes. One person or more than one person can establish it, and once it has been registered into the register, it is considered to be a legal person. The categories of activities […]
Association registration guide in Latvia
Associations are voluntary non-profit unions of members that are formed to work toward a goal that is outlined in the articles of association. Legal entities and even partnerships can have ownership over them. To register a corporation of this kind, you need the participation of at least two people. The Cabinet Regulations classify associations under […]
Guide on choosing a business structure in Latvia
It is crucial to evaluate and select the best type of activity in terms of law and economics before starting a business. This decision will have an impact on the amount of equity capital required, as well as the enterprise’s legal status and other business-related difficulties. Foreigners are permitted to conduct business in Latvia through […]
Company management in Latvia
Two aspects of the environment played a role in shaping corporate governance in Latvia. The very first part of this story takes place in 1991 when Latvia won its independence by seceding from the political and economic institutions of the Soviet Union. This event marks the beginning of this particular narrative. Confusion reigned supreme among […]
Foreign tax relief and tax treaties in Latvia
Persons residing in the country are entitled to relief from double taxes and attractive tax treaties. Foreign tax payable on income in the tax base may be taken as a credit against Personal Income Tax based on proof of income earned and income tax paid as approved by the foreign tax authorities. A tax credit […]
Double tax agreement in Latvia
The term “double taxation agreements” refers to bilateral or multilateral pacts that prohibit the double imposition of taxes on the same income or property by two or more countries (DTAs). The most important objectives of the DTA are to distribute the right to collect taxes among the countries that have agreed to its terms, eliminate […]
International taxation in Latvia
International taxation determines the tax charged on income earned by a taxable person or business according to the tax laws of different countries. Tax systems vary from region to region with no general rules. These differences allow for double taxation when the same income is subject to tax in several countries and no taxation when […]