The individual company, as well as the farm of farmers or fishers, has the right to change the company into a limited company. The proprietor shall draw up a draft decision on the reorganization and a draft of the papers of association of the limited company. The amended company must initiate the reorganization process by submitting the amended draft reorganization contract to the Enterprise Register if the draft reorganization agreement has been submitted to the Enterprise Register and is attached to the company enrollment case. A meeting of members shall, not earlier than one month after the publication of the draft amended reorganization agreement, examine the draft contract and decide on reorganization. However, the announcement to creditors shall be repeated after the decision of the meeting of the members, If the company had formerly issued a notice to creditors regarding the reorganization in the formal publication Latvijas Vēstnesis. 

At the same time, it should be noted that if one of the companies involved in the reorganization changed the name or was converted into another type of company during the reorganization, it shouldn’t be considered as the base for amending the draft reorganization agreement. 

Documents to be submitted

  • Announcement of reorganization. 
  •  Draft reorganization decision. 
  •  Draft Statute. 
  • A receipt or a duplicate thereof, or a printout of online bank payment, or information on the payment of the State fee. 

The time limit for the submission of documents in the Enterprise Register is 14 days from the drafting of the draft reorganization contract. 

The State fee must be paid before the documents are submitted for enrollment. Registration shall be made only after the Enterprise Register can make sure that the State fee is credited to the Treasury account. The State fee may be effected using a transfer to any bank 2 days before the submission of documents electronically or by post. which is 15,00 euros. 

Still, a similar operation for electronic enrollment must be submitted to the e-mail address. If an operation for enrollment or the documents attached thereto is submitted with a secure signature issued abroad (List of Trusted Service Providers of the European Union). gov. lv). Documents written with an e-signature issued abroad can not be submitted to the service. 

Still, the operation or the documents attached to it are written with a secure electronic signature issued abroad, the address at which the electronic document written with a secure electronic hand can be vindicated must be also indicated, If the application. However, the validity of the electronic signature can be vindicated on the formal website of the European Union, If the electronically written document has been entered by a member of the Member States of the European Union. 

Still, if the signature and or timestamp appears on the formal website of the European Union 

as invalid or doesn’t qualify as a good signature (QESig) and good timestamp (QTSA). 

Advertisement to the creditors 

The proprietor of the undertaking shall decide on the reorganization, the verification of the papers of association, as well as the appointment of the Board and the Board (if the council is handed in Within 15 days of the date of the decision on the reorganization, the undertaking shall send written notice of reorganization to all known creditors of the company. 

The announcement to creditors regarding the reorganization shall also be published in the formal publication Latvijas Vēstnesis’. 

The announcement shall specify; 

  • Company establishment, enrollment number, and legal address. 
  • Enterprises, enrollment fees, and legal addresses of other companies involved in the reorganization. 
  • Type of reorganization. 
  • Place of operation for claims by creditors and a time limit that may not be lower than one month from the date of publication of the notice.