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 […]
Reasons to use a company formation agent
If you’ve never formed a company, the business incorporation world may seem intimidating. The jargon, legal requirements, and registration procedure are simple to understand if you work with a business formation agent. What is a company formation agent A company formation agent is an autonomous entity that establishes corporations on behalf of other persons. This […]
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 […]
Shareholders explained
A person is considered to be a shareholder in a company or a mutual fund if they own at least one share of the firm’s stock or a unit in the fund. The bulk of the firm is owned by its shareholders, who each have their own set of rights and duties associated with their […]
Companies that are obligated to register for VAT
The registration of Value Added Tax (VAT) payers in the country by the State Revenue Service (SRS) in the register is controlled by these provisions; Article 3 and paragraphs 1 and 9 of Article 26 of the Act ‘On Value Added Tax’. Any company which engages in business activities and purchases goods in the EU […]
Articles of the association explained
These are legal documents that outline how a company must do business and describes its objective. The document describes the company’s tasks, including the appointment of directors and the maintenance of financial records. Understanding articles of association The articles of organization of a corporation will typically contain provisions that detail how the company will issue […]
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 […]