Company formation. Accounting services.

  Company formation Accounting services About Latvia

LLC formation



You are visiting :  Company formation » Formation of Limited Liability Company



» About us

» About Latvia

» Company formation

  » LLC formation

  » IM formation

  » Changes in documents

» Accounting services

» Partners

» Contacts





      Formation of Limited Liability Company (LLC)

 Limited Liability Company (LLC) is most popular form of entrepreneurship in Latvia. Minimum share capital is 2000,- Ls (approximately 3970,- USD).

!!! Special offer – registration of LLC with just 1,- Ls (approximately 2,- USD) input in fixed capital

Status and liabilities of LLC

Capital Company is Commerce Company which fixed capital consists of sum of nominal value parts of fixed capital. Limited Liability Company is legal person. Company for it its liabilities is responsible with property that it belongs. Company founders (shareholders) are not responsible for liabilities of Company if only there is special agreement between shareholders. Company is not responsible for liabilities of shareholders.

Registration of Limited Liability Company

There could be one as well as several founders of LLC and founders can be both individual and legal persons. Minimum fixed capital is 2000,- Ls (approximately 3970,0- USD). Establishing company it is necessary to pay at least half of provided fixed capital. Fixed capital could be paid with money or property input.

Management body of LLC is board of directors, if necessary founder can form a council. Board of directors of Limited Liability Company consists of one or several board members.

It takes just one day to register a sole owner LLC in state register of enterprises. If there are several founders, register of LLC takes 4 days.

Procedure of formation Limited Liability Company

Establishing LLC founder or founders do all necessary operations to prepare required documents for register of enterprises:

-          resolution of foundation or constituent act;

-          articles of association (statutes);

-          setting up management body of LLC (board of directors and council if need);

-          fixed capital must be paid up;

-          if necessary, must be made evaluation of property and input in fixed capital;

-          appoint of auditor if provided;

-          application to state register of enterprises to register a company in commercial register;

-          payment for publication in official newspaper and for state tax.


To prepare all necessary documents and to register a company in commercial register we need following information:

-          company name (name which will be used in business);

-          legal address of new LLC;

-          information about founders, board members and council (if provided);

-          fixed capital – provided size of fixed capital, payment type and order.


To register LLC it is necessary:

-          arrange all required information and prepare documents for submitting them in state register of enterprises;

-          signing documents (also need confirmation of signature at notary);

-          opening temporary bank account, in which is paid up fixed capital (if it is provided to pay up fixed capital with money);

-          making of required payments.


Your expenses to register Limited Liability Company:

-          state tax for registering LLC – 100,- Ls;

-          payment for publication in official newspaper “Latvijas vēstnesis” – 24,- Ls;

-          payment to notary – as from 6,- Ls (price depends on notary rates);

-          payment of bank commissions – according to pricelist of bank;

-          service fee – 30,- Ls

Total costs relating to registration of LLC is approximately 165,- Ls.

P.s. Costs can be changed if non-standard situation.


If you need legal or accounting services or consultations, please feel free to contact us:

Tel. (371) 29 112 333 (EN, LV, RU)


Company formation.                                      Accounting services.