LOW-CAPITAL LIMITED LIABILITY COMPANY REGISTRATION IN LATVIA
Limited Liability Company with reduced share capital is a company whose share capital value ranges between EUR 1 and EUR 2,799. Before applying for registration share capital has to be signed and paid, until applying for the company registration it must be paid up in cash in company’s treasury.
Limited Liability Company with reduced share capital is subject to following requirements of the Commercial Law of the Republic of Latvia:
1. The number of board members of the company should not exceed five individuals.
2. The number of shareholders of the company should not exceed five individuals.
3. The board of directors should consist of one or more members, and they all should be shareholders of the company.
4. Each shareholder can be only a member of a single limited liability company with reduced share capital.
5. Only physical persons can be shareholders in reduced share capital company.
Every year limited liability company with reduced share capital should create a minimum reserve by making a deduction of at least 25 % of the year’s net profit. The statutory reserve, based on shareholders meeting can be used to:
ü Increase the share capital
ü Cover losses of annual report, if they are not covered by the previous annual report
ü Cover losses of previous financial year if they are not covered by the annual report
A limited liability company in Latvia can be established in less than a week in case all necessary documents are submitted for registration.
For foreigners the following documentation will be required:
- notarized and apostilled passport copy;
- notarized and apostilled company registration documents (prepared by our lawyers);
- utillity bill not older than 3 months.
Before registering company you will need to send us a scanned passport copy of the shareholders and board members of the company as well as company name that you have chosen to check for availability.
Great feature of Latvian company establishment is that you can have your company name in English language, there are no requirements for Latvian language in the company's name.
CONTACT US TO ESTABLISH LIMITED LIABILITY COMPANY IN LATVIA IN A COUPLE OF DAYS
To find our more information do not hesitate to contact our Latvian company establishment lawyers in Latvia - info@eulawfirm.eu
Office address: Eksporta iela 12, Riga, LV-1045, Latvia
You are also kindly invited to use the contact form below to send us a direct message.