Company registration process is generally completed in 2 weeks.
Company formation in Latvia offers an excellent opportunity to trade with the Eastern and European Markets as it is a recognised member of the European Union. Additionally, it has an excellent geographical location and is well versed with the Russian market trends and language. The Latvian economy is based on service industries like transportation and financial services as well as light industries like wood, textiles and food processing.
If properly structured, a Latvian company can act as a tax-efficient subsidiary for an EU parent company under the terms of the EU Parent/Subsidiary Directive. 100% foreign ownership is permitted with Latvia company formation.
A Latvian company can access the double taxation treaties Latvia has signed with countries including Canada, China, France, Germany, Ireland, Singapore, the UK and the US.
Latvia is ranked 19th in the ease of business ranking according to World Bank. In addition, in the 2021 Index of Economic Freedom by the Heritage Foundation, Latvia ranks highly as having the world’s 30th freest economy.
Latvia ranks a positive 37th on the United Nations Human Development Index for its high overall life expectancy, literacy, education and living standards.
It is easy to open global corporate bank accounts to support Latvia company formation.
The effective corporate income tax rate is 25%.