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Representative Office

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In accordance with the Commercial Law, Representative Office of Foreign Merchant is not considered as a legal entity and it is not allowed to carry out commercial activities in Latvia, therefore it is not subject to corporate and other taxes, maintaining accounting records, filing tax declarations and annual report.

Representative Office is allowed to carry out the following non-income generating activities, which are not considered as commercial activity fo tax purposes: promotion and supervision of the business of the parent company, creating business opportunities, conducting research.

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Micro-company

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Latvian LLC (SIA) can be registered with the State Revenue Service as a micro-tax payer if it meets the following criteria:

  1. All its shareholders are natural persons
  2. Its turnover in a calendar year does not exceed 100000 EUR
  3. The number of employees does not exceed 5 at any time
  4. The maximum remuneration per employee is 720 EUR per month

The main advantage of micro-company is a lowered tax rate – 9% for the first 3 years of activity and 12% from the 4th year, which already includes:

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Holding company

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The main purpose of a holding company goes beyond just owning shares of other companies and receiving dividends from its subsidiaries. Holding company can be used as a key tool for increasing company's tax efficiency and for more beneficial use of its assets.

Latvian holding company can be used not only to improve treasury management, but also to hold important assets such as intellectual property: trade marks, licenses, and patents.

Tax benefits of Latvian holding: relatively low rate of corporate income tax – 15%, which is not applicable in the following cases*:

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Residence permit

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Latvia is the Member state of the European Union and Schengen Agreement. Latvian residence permit allows its holder to stay in Latvia without any term limitations – from 1 to 365 days per annum as well as staying in any other Schengen Member State for up to 90 days within six-month period.

Latvian residence permit for investors is valid for up to 5 years, but it shall be restored annually.
Investor's family members are also eligible to obtain temporary residence permit: spouse, minor children, and wards.

Current Latvian Immigration Law claims the following legal options for obtaining the residence permit:

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BUSINESS IN LATVIA

Simplified amen ment registration Amendments to the Micro-enterprise Tax Law
On 31st of March 2015 the Cabinet of Ministers of the Republic of Latvia has adopted the amendments to the Commercial Law, which are aimed to a substantial simplification of the following amendment registration with the Enterprise Register for the single-shareholder company: the submission of the current register of shareholders and conversion of the share capital into euro. On 26th of March 2015 the Saeima has adopted some significant amendments to the Micro-enterprise Tax Law during the second reading. The amendments are aimed to the identification of the specific types of business activities or fields, which will be entitled to be registered as micro-tax payers.

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Contact Us

UNITED AGENTS ​

Tel: +371 26133646
Tel: +371 28223563
Email: info@unitedagents.eu
Address: 76/78 Matīsa St. Rīga, LV-1009, Latvia

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