Company types in Latvia >> Limited partnership
Limited partnership is partnership whose purpose is to conduct commercial activities using joint firm and where two or more persons are united basing on the company agreement, if the liability of at least one of the members (limited partners) regarding the creditors of the company is limited by the amount of his/her/its contributions but the liability of the remaining personally liable members (complementaries) of the company is not limited.
It is not allowed that partnership is member or limited partnership.
Steps of full registration process:
Partnership contracts > Registration limited partnership in the Register of Enterprises > Opening bank account > Registration limited partnership in Tax office.
Registration process of limited partnership in Latvia
– collection of necessary information for limited partnership registration;
– preparing documents for limited partnership registration;
– signing of documents, also at notary;
– payment of state fees for registration limited partnership and for publication official newspaper;
– document submitting to the Register of Enterprises of the Republic of Latvia;
– registration of limited partnership in the Register of Enterprises of the Republic of Latvia and receiving documents
Documents to submit to the Register of Enterprises of the Republic of Latvia for registering limited partnership in Latvia
To register limited partnership in Latvia one must submit following documents to register of enterprises:
– Application Form for general partnership registration;
– samples of signatures of members who have rights to represent limited partnership. Sample of signature must confirmed at notary. If legal person is authorized to represent the limited partnership, then no necessary to submit sample of signature;
– Proof of payment (receipt) of state taxes for limited partnership registration;
– Proof of payment (receipt) for publication in official newspaper “Latvijas Vestnesis”
Necessary information for registration limited partnership in Latvia
To register general partnership in Latvia and to prepare documents we need following information:
– limited partnership name;
– personal company type (limited or general partnership);
– contribution amount of each limited partner and amount of all contributions of limited partners;
– Name, surname, ID code (if natural person) and name, registration number and legal address (if legal persons) of personally responsible partners;
– for partners:
>rights to represent partnership jointly or individually, stating name surname, personal code, address (for natural person);
> name, registration number and legal address (legal person) of those partners who have rights to represent partnership;
– legal address;
– term or aim, in case if partnership is established temporary or until reaching specific aim.
Bank account for limited partnership
According to Latvian legislation limited partnership registered in Latvia can open bank account in any commercial bank in Latvia or in any other country. If bank account of limited partnership in Latvia is opened in bank in other country then it must be reported to tax office.
So for your limited partnership in Latvia you can open bank account in any Latvian commercial bank and manage it via online banking (internet-bank) and use Visa or EC/MC debit or credit card.
In some commercial banks in Latvia – it is possible to open bank account remotely on basis of Power of Attorney (POA).
If You need legal services or accounting services, please contact us
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