Latvia

General Information

Advantages:

Corporate tax rate 0% if assets are invested in the company
Quick registration (only 4 days)
EU legal framework is applicable
the best country to do business according to forbes

Disadvantages:

Strict bank compliance requirements
Person with significant control obligatory disclosure
At least 1 employee is required
Monthly reporting

Latvia, a country in Northern Europe, is bordered by Estonia to the north, Belarus, and Lithuania to the south, the Russian Federation to the east, and the Baltic Sea to the west. Latvia is divided into 110 municipalities and nine cities, with Riga as the capital. The national language is Latvian, and the euro (EUR) has been the national currency since 1 January 2014.

The commercial environment is generally friendly to foreign companies, and EU directives are implemented and observed. The Latvian government has adopted modern laws establishing copyrights, patents, and trademarks and the means of enforcing their protection. 

Latvia offers a progressive, western-oriented business environment with a well-educated multilingual workforce, a simple and favorable tax system, and an efficient business infrastructure.

Latvia has a very open economy. The transport and logistics sectors also contribute significantly to GDP. In addition, IT, energy, water, modern food production and creative industries can be identified as sectors with major potential.