Positioned at the crossroads of northern and eastern Europe, the Baltic state of Latvia is rapidly making the most of it having a status as a member of the EU.
Foreign investment is rising strongly and Latvian authorities have taken steps to streamline the regulations governing company formation.
The range of possible business entities has been reduced from thirteen to five, bringing the commercial landscape more into line with established EU standards.
There are four main kinds of business entity for foreign investors, and they are as follows:
- limited liability company (SIA)
- joint stock company (A/S)
- branch office
- representative office
Latvia’s banking system is well advanced, certainly by Baltic standards and offers all the facilities that are likely to be required by international investors. Few of the local banks are well established internationally, however, and we recommend that you take specialist advice on opening a bank account. We will be happy to help you with this.