Eternity Law International — News — Ready-made company in Latvia

Ready-made company in Latvia

Published:
September 26, 2022

Ready-made companies, seasoned companies, or aged companies refer to LLCs or partnerships that have not been active.

Benefits of aged companies

  • Saving time is one benefit of a ready-made firm. The incorporation procedure takes time, and quicker enrollment is more expensive due to greater state taxes. Changing the owner of an existing business is quicker.
  • Persistence of business. Before beginning a relationship, certain partners or financial institutions could take the registration date into account. Prospective customers are more likely to trust a well-known company that is actively promoted.
  • The background of your company. It boosts credibility and improves the company’s reputation with time.
  • Require a bank loan. In the case of demonstrating the incorporation history, it could be simpler.

Procedure of buying a business

It takes several days. The Company Registry requires 4 working days for enrollment.

Required paperwork

The following papers are needed to change the enterprise into your name:

  • Each director (and owner, if they are separate people) must have a valid passport or ID card. The contract for the sale-purchase of business shares must also be notarized.
  • The new corporate director’s signature specimen has been notarized.
  • After you place an order and upload a scan of your passport, we will fill out the relevant paperwork with your personal details, including the stock purchase agreement and your sample signature, and send it along with clear instructions so you can read and sign it.

Varieties of businesses in Latvia

  • A Latvian LLC is the most popular type of business structure where the owners are not held personally accountable for the company’s debts. A Latvian LLC is allowed to have a capital of 2,800 euros.
  • The shares of Latvian JSK, a joint stock company, may be freely dispersed. Such a corporation should have a minimum authorized capital of 35,000 euros.

The corporate tax

Comprehending the tax laws of this European nation is essential when beginning a business in Latvia.

The taxable income that a taxpayer receives during a taxation period is what the corporate income tax is levied on. Corporate financial revenue that has been legally adjusted serves as the tax base. The adjustments are primarily used to guarantee that income exceeds costs that are not subject to taxation (such as those not directly connected to business activity) or to lower income by a predetermined amount in cases where tax relief is provided for by law.

The following companies pay corporate income taxes:

  • Foreign companies, business entities, natural persons, permanent overseas subsidiaries of non-resident are obligated with an income tax rate of 20%
  • organizations and institutions supported by the state budget or local budgets that receive money from economic activity.

Personal income tax is paid by individual businesses, and based on revenue, the tax rate can range from 20% to 31.4%.

Added-value tax (VAT)

The whole European Union, including Latvia, is subject to the VAT, which is a consumption tax. On products and services bought and sold for use or consumption, the aforementioned tax is imposed. Since the end user is answerable for paying this tax that is included into the cost of a commodity or service, it is seen as an indirect tax. According to Latvia’s “Value Added Tax Law,” the standard tax rate is now 21%, although the reduced rate can range from 12% to 0% depending on the item or service.

The VAT is a general tax since it is levied indirectly on businesses and is appropriate for consumption with few legal exceptions. The EU has launched stringent laws for applying the VAT in light of the terms of competition.

If you are attracted to a ready-made business in Latvia, our experts will assist you in deciding on the sort of business to form and in creating all the paperwork required for incorporation.

Please contact us to get more information.

You can see our current offers in the categories “Cryptocoins and licensing of cryptocurrency operations”, “Ready-made companies”, “Banks for sale” and “Licenses for sale”.

You could be interested

The Tenth All-Ukrainian Blockchain Hackathon

We present the tenth All-Ukrainian Blockchain-Hackathon, which is scheduled for March 19-20, 2022, and will be held in Kiev. Over 40 thousand dollars will be drawn during these 2 days. What to Expect From the Event This Year? In 2022, the conference will cover the following topics: anonymity & mixnets, data protection, privacy protection. That’s...

Choosing the European bank

If you already have a working company in Europe, then you are suitable banks that are located in Austria, Luxembourg, Liechtenstein and Switzerland. Banks in these jurisdictions love working businesses, love to look at customer statements, and explore the financial origins of funds. And also the fact that the client has experience in the relevant...

Regulation of cryptocurrency in Canada

Since the FinTech sector is getting more popular, many people are curious to what extent cryptocoins and related products are legal and usable. The brief answer is yes, buying and selling them is legal, however, Canada does not consider them legal tender. As this status often leads to misunderstandings, let’s take a look at the...

Andorra rejects banking secrecy since 2018

For many years, banking secrecy was observed in Andorra, there was no VAT with income tax, high-class professional workers worked in the banking area. In Andorra, there was a certain kind and independence in making decisions. France and Spain are located near Andorra, which is an important advantage for this state. In the last couple...

ISO 29001: Oil & Gas Industry

Industry standards are being developed with the aim of unifying management systems, integrating them with each other, through this, optimizing enterprise administration processes. Basis of this standard is the process approach – the identification of the activities of the enterprise, including the quality management itself, the analysis of methods for managing these processes. ISO 29001...

ISO 14001: Environmental Management System

ISO 14001 certification is dedicated to EMS creation and execution. International authority develops and provides standards adopted around the world publishes this normative document. Latter variant – “ISO 14001:2015” – has been agreed by most of states. Certification confirms that firm fulfills all possible demands to reduce its environmental impact. This, in turn, helps improving...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360