Company formation in Latvia
SIA
Legal minimum, year 1£349
Legal minimum, per year after£100
Typical year 1£1,669
Corporation tax20%Ease Banking
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Every fee
Setting up
Government fee£129
About €150 Enterprise RegisterNotarised signatures£20 to 60
Required
Legal address£100 to 300
Required
Formation agent£0 to 400
Optional
Share capital€1 (€2,800 standard SIA)
Time to form1 to 2 weeks
Running it, per year
Legal address£100 to 300
Required
Accountant£0 to 1,800
Practically needed
Legal minimum after year 1£100
Audit: Exempt below thresholdsForeign ownersNo resident directorRemote with EU e-signature or notarised documents
Tax0% retained; 20% on distributions (Estonian model)Dividend withholding: 0% to non-resident companiesVAT/GST: 21%
BankingLocal banks selective; EMIs common
Reduced-capital SIA must build reserves from profits until it reaches €2,800.
SourcesPwC tax summary
Questions
- How much does it cost to set up a company in Latvia?
- The legal minimum for the first year is £349, counting only what the law requires and doing every filing yourself. A typical first year, with an accountant, costs about £1,669. The government fee is £129 (About €150 Enterprise Register). Share capital is not included.
- How much does it cost per year to run a company in Latvia?
- The legal minimum after the first year is £100 a year. Running costs including optional and practically needed services range from £100 to 2,100. Audit: Exempt below thresholds.
- Do I need a local director in Latvia?
- No. No resident director.
- Can a non-resident form a company in Latvia remotely?
- Yes. Remote with EU e-signature or notarised documents.
- What is the corporation tax rate in Latvia?
- 0% retained; 20% on distributions (Estonian model). Dividend withholding: 0% to non-resident companies. VAT/GST: 21%.
- How long does it take to form a company in Latvia?
- 1 to 2 weeks.