All companies must be registered in the Commercial Register of The register of Enterprises. For companies to achieve legal status, their founders shall prepare and submit to the Register of Enterprises a foundation agreement and articles of association, together with receipts that confirm payment of registration duty and for the publication of an announcement in the official newspaper “Latvijas Vēstnesis”. Registration duty depends on the chosen form of business:
– for JSC it is EUR 85.00,
– for LLC it varies from EUR 20.00 to EUR 75.00,
– for branches it is EUR 30.00.
– to register partnerships, the parties shall submit an application for registration and pay registration duty EUR 150.00.
Before applying to the Register of Enterprises, companies must pay at least 50% of subscribed capital for LLC and at least EUR 35 000.00 for JSC, the remaining subscribed capital must be paid within one year of the registration date in the Commercial Register.
The Register of Enterprises undertakes to review applications and register companies within three days or within one working day in case if three times larger fee is paid.