General partnership is partnership made with purpose to conduct commercial activities using joint firm and where two or more persons (members of this partnership) are united basing on the company agreement and without limiting their liability against creditors.
Steps of full registration process:
Partnership contracts > Registration general partnership in the Register of Enterprises > Opening bank account > Registration general partnership in Tax office.
Registration process of general partnership in Latvia
– collection of necessary information for general partnership registration;
– preparing documents for general partnership registration;
– signing of documents, also at notary;
– payment of state fees for registration general partnership and for publication official newspaper;
– document submitting to the Register of Enterprises of the Republic of Latvia;
– registration of general 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 general partnership in Latvia
To register general 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 company. Sample of signature must confirmed at notary. If legal person is authorized to represent the company, then no necessary to submit sample of signature;
– Proof of payment (receipt) of state taxes for general partnership registration;
– Proof of payment (receipt) for publication in official newspaper “Latvijas Vestnesis”
Necessary information for registration general partnership in Latvia
To register general partnership in Latvia and to prepare documents we need following information:
– general partnership name;
– personal company type (limited or general partnership);
– 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 general partnership
According to Latvian legislation general partnership registered in Latvia can open bank account in any commercial bank in Latvia or in any other country. If bank account of general partnership in Latvia is opened in bank in other country then it must be reported to tax office.
So for your general 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).