Estonia vs Latvia
Company formation costs side by side
EntityPrivate limited company (OÜ)SIA
Legal minimum, year 1£573£349
Legal minimum, per year after£130£100
Typical year 1£1,786£1,669
Government fee£228 (€265 state fee)£129 (About €150 Enterprise Register)
Indirect setup£215 to 725£120 to 760
Running per year£130 to 2,045£100 to 2,100
Share capital€0.01€1 (€2,800 standard SIA)
Time to form1 to 3 days1 to 2 weeks
AuditExempt below thresholdsExempt below thresholds
DirectorsNo resident director; a local contact person is mandatory if managed abroadNo resident director
Remote formationFully online with an e-Residency card (one embassy pickup)Remote with EU e-signature or notarised documents
Corporation tax0% on retained profit; 22% on distributions (22/78). Planned rise to 24% repealed Dec 20250% retained; 20% on distributions (Estonian model)
Dividend withholding0% (tax paid by company on distribution)0% to non-resident companies
VAT/GST24%21%
Foreign owner ease5 of 53 of 5
Banking3 of 5. Local banks (LHV, Swedbank) selective with e-residents; Wise and Revolut common3 of 5. Local banks selective; EMIs common
Data statusCheckedIndicative