You have the project to create your company in Latvia, the whole Fidulink team, specialist in the creation of a company in Latvia will be happy to relieve you for all the procedures for creating a SIA company in Latvia.
Before creating your SIA company in Latvia, with a head office in Riga, we suggest that you take stock of the elements and information to be put in place, because it is important to know where you are venturing.
The SIA company in Latvia in a nutshell
Limited Liability Company (SIA):
The limited liability company (SIA) is the basic company form par excellence, the most widely used in Latvia. There are few constraints for this type of company in Latvia. The liability of shareholders is limited to contributions of shares, except in the event of prohibition of management, or abuse of corporate assets, or the exercise of any illegal activities. Entrepreneurs who decide to set up an SIA in Latvia, have a large possibility of leeway to develop a “tailor-made” personalized company. One founder is enough to create an SIA company in Latvia. To find out more, contact one of our agents, he or she will be happy to answer your questions.
Step 1: Determine the project of your SIA company in Latvia
It's not just having an idea, it's simply taking the time to see the long term, the project, disaster scenarios, for anticipated, and provide solutions even before it is created, to avoid the maximum inconvenience, loss of money, loss of time, stress, which could harm and make lose all hope of success. We are present to accompany you, in order to avoid stress for the steps of creating your company, for precisely, you devote to this essential part of development of your Business Model so that your project of creation of SIA company in Latvia be Viable.
We offer completely transparent and clear prices, you will have included in your package, an agent available to answer your questions, as far as possible, because we are an incorporation agent and do not provide any advice, for the launch and development of your SIA company in Latvia.
We support entrepreneurs from all over the world to create their SIA company in Latvia, it is important to properly analyze your business model.
- What are the planned activities of your future SIA company in Latvia?
- How many shareholders and directors will be registered in your future SIA company in Latvia?
- Analyze the development environment of your SIA company in Latvia?
- Who will be your target customers for your SIA company in Latvia?
- What will be the main expenses of your SIA company in Latvia?
- What will be the sources of income for your SIA company in Latvia?
- Make a complete description of your SIA company in Latvia
- Where are the partners, customers and suppliers of your SIA company located in Latvia?
- What is the marketing strategy to develop your SIA company in Latvia?
- All these questions are important to establish your business model WHICH IS MANDATORY IN LATVIA, to register your company – Our accountants will assist you in drafting your Business Plan in accordance with the application for registration with the company register in Latvia.
Step 2: Know the steps for registering your SIA company in Latvia
In order not to be surprised on the steps, our team is happy to detail below the steps for creating your SIA company in Latvia:
- Choosing the legal form for your company in Latvia, here in this article, we have opted for the SIA, the most fashionable and most created company in Latvia, for foreigners and non-residents of Latvia ns, it is is a Latvian liability company, you can read below the important points of this type of company in Latvia
- Create an SIA company in Latvia by editing and filing articles of incorporation, the complete registration file of your SIA in Latvia:
- The SIA Latvia must register its company with the approved business counter
- Your SIA Latvia company must open an escrow account for capital deposit
- A SIA in Latvia must Obtain a certificate of capital deposit
- In Latvia, after incorporation, your company SIA Latvia
- Register you with insurance, for civil insurance and other insurance according to certain specific activities
Step 3: Incorporation of a company with SIA type legal personality in Latvia
If you choose to carry out your self-employed activity in the form of a company with legal personality, you must take various steps to set up the company:
A) The formalities to create your SIA company in Latvia
- The first formality consists in drafting (in writing) the constitutive act of your company.
- Filing of the deed of incorporation;
- Registration of the deed of incorporation.
This includes the articles of association of the company, including all its characteristics (name, registered office, object, capital, etc.) and its mode of operation.
Depending on the type of company, this act can take the form of:
- an authentic deed (notarial deed); as for the SIA in Latvia
- If you opt for one of the most common legal forms (SIA), you must go to a notary to draw up the company's memorandum of association. The cost varies according to the complexity of the act. The agreements executed in this way acquire value and legal certainty. The signatories of these deeds may avail themselves of this surety between themselves and with regard to any person unrelated to the agreement.
Information to mention in the deed of incorporation
The deed of incorporation must contain the following information in particular:
- the name of your future Latvian company, with its abbreviated name or acronym, if applicable;
- the legal form of your Latvian company (SIA);
- the address of the registered office in Riga of your future SIA company in Latvia;
- the purpose of your SIA Latvia company, i.e. the precise designation of the purpose and object that the company intends to pursue; What activities does your company plan SIA Latvia
- the duration of your company SIA Latvia: fixed or indefinite duration;
- the terms of representation of your SIA Latvia company: the designation of the administrative body(ies), their powers and the terms of their exercise, the mode of operation, etc. ;
- if applicable, the capital of your SIA Latvia company: the amount of capital, its subscription (with whom and for what amount?), the terms of capital increase or reduction, etc. ;
- the company's securities: the number of securities issued, their nature, their mode of transmission, etc.
B) Documents to be provided:
To draw up the deed of incorporation, you need the following documents:
- a financial plan of your SIA Latvia company, which justifies the amount of capital or initial equity of the company being set up and an estimate of the needs and expected income;
Capital: in the event of a cash contribution: proof of the opening of a special account (escrow account) in the name of - your company SIA Latvia to be incorporated (bank certificate);
in the event of a contribution in kind (building, equipment, etc.): a report from an auditor. - Submission of the deed of incorporation of your company SIA Latvia. You must then file the deed of incorporation with the registry of the company court of the registered office of your company.
- The deposit must be made within 30 days of the drafting of the deed of incorporation.
For SIAs, the deposit is made by the notary and the deed is registered in the Register of Legal Persons.
C) Registration with the Crossroads Bank for Enterprises for your SIA company in Latvia
Following the filing, the clerk enters the company's identification data at the Banque Carrefour des Entreprises. The central register assigns a company number to your company.
Publication of the act incorporation of your SIA company in Latvia
The clerk also ensures the publication of the constituting act by extract to the axes of the Latvian Monitor.
To complete registration, you must pay a registration fee.
Who should register and when?
If the deed is legalized (notarial deed), the registration must be made by the notary within 21 days MINIMUM.
D) Consequence of the registration of your company SIA Latvia
The registration of the deed of incorporation gives it a specific date. No one can dispute its existence on the date of registration (it does not exclude disputes over its content or its scope).
Important information to know about Taxation in Latvia:
All private companies, organizations:
- Which have a legal personality like the SIA,
- Who have their main registered office in Latvia,
- Whose services or businesses are lucrative
Must declare once a year, the declaration with the tax service and establish an accounting balance sheet.
For any further information, please contact our customer service, an agent will be happy to explain the basic information you need to know when setting up an SIA company in Latvia.
I want to set up my company in Latvia with the help of Fidulink services? How to do?
After explaining the main steps, and information to know for the creation of a company, we are going to talk about fees, how much does the creation of a company in Latvia cost on average.
We offer you our basic package "START UP LATVIA" below, an agent will send you the complete offer by email, with more precise information by making the request directly by email info@fidulink.com.
START UP PACKAGE includes the following services:
- KYC procedure (better know your client) in order to build your file before the drafting of the deeds of incorporation for the creation of SIA in Latvia
- Checking the layout of your company name SIA Latvia
- Reservation of your company name SIA Latvia
- Editions of documents, and deeds of incorporation of your SIA Latvia
- Organization of appointments with the notary* or with apostille without travel
- Notary fees included for your SIA company in Latvia
- Edition of the complete file for the incorporation of your company SIA Latvia
- Domiciliation address of the registered office First year included for your SIA company in Latvia
- Submission of the legal announcement of business creation
- Registration in the tax register
- A domiciliation contract (postal address) in the name of your company within the Business Center
- Government incorporation fees for your SIA company in Latvia
- Assistance Opening a combined account for an SIA company in Latvia (capital deposit)
- Business current account assistance for an SIA company in Latvia
- Electronic business documents (pdf)
- A dedicated agent for 1 year
The price of our services below is New constitution 2999.00 € excluding VAT
For any additional requests, please contact us through our various media:
Visit our website by clicking on the following link: FIDULINK Service
Please contact our team of agents at your service (French, English, Spanish) by email info@fidulink.com
Please contact via our whatsapp support: Fidulink Whatsapp or by clicking on the link on our homepage FIDULINK Service
We would be delighted to accompany you in your project of setting up an SIA company in Latvia, without stress, thanks to our team who manages everything for you.
See you soon, the Fidulink team, thanks you for reading this and wishes you a great day. Take care of yourself.
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