Key benefits

The Republic of Latvia is located in the Baltic Region of Northern Europe and is bordered by Lithuania, Estonia, Belarus and the Russian Federation. Latvia is a full member of the EU, United Nations, NATO, the World Trade Organisation and is part of the Schengen area.

After the economic stagnation of the early 1990’s Latvia posted high GDP growth figures during 1998-2006. During the global financial crisis of 2008-2010 Latvia was one of the hardest hit of the EU member states with a GDP decline of 26.54% during the period. By 2011 Latvia had started to recover and continues to show signs of growth.

Key benefits of Latvia:

  • Latvia is a full member of the European Union
  • Latvian legislation is liberal than other EU Member countries and the process of incorporating is relatively cheap and quick in comparison with other member states.
  • If structured correctly a Latvian company can act as a tax efficient subsidiary for an EU parent company under the EU Parent/Subsidiary Directive. 100% foreign ownership is permitted with Latvia company formation.
  • Only 1 director and shareholder is required, there is no requirement for a local director.
  • Latvia is has a highly educated, multi-lingual and motivated workforce
  • According to the World Banks 2011 Doing Business Survey Latvia is ranked as the 24th easiest place to do business
  • The 2012 Index of Economic Freedom by the Heritage Foundation ranks Latvia as the 50th freest economy in terms of investment freedom and capital flow.

Take the next step, we are here to help.

Register a Latvia company.
Open a Latvia bank account.

  Resources:

New licensing regulations for Trusts & Service Providers in Hong Kong

New licensing regulations for Trusts & Service Providers in Hong Kong

As per new regulations, all Hong Kong businesses providing Trustee Services, including Corporate Service Providers will not be able to operate without a valid trading license after March the 1st 2018. The new scheme is designed to better regulate individuals carrying out services within the financial sphere in Hong Kong and will be overseen and administered by the Hong Kong Companies Registry.

The terms of Hong Kong's new register of significant controllers and what it means for companies

The terms of Hong Kong's new register of significant controllers and what it means for companies

As per new legislation, from March 1st 2018, every company incorporated in Hong Kong will be required to keep and maintain a register of all persons who have significant control of the company. The record must be updated as required and kept at the registered company address, even if there are no persons of significant control.

The pros & cons of European Passport-by-Investment schemes

The pros & cons of European Passport-by-Investment schemes

In a bid to rebuild the dwindling economy in Cyprus shortly after the financial crisis four years ago, the government launched a passport-by-investment program to temp wealthy foreigners with citizenship in exchange for an investment of no less than €2 million into the Cyprus economy.

Using the Cyprus Non-Dom scheme for beneficial tax planning

Using the Cyprus Non-Dom scheme for beneficial tax planning

In an attempt to improve and simplify the Cyprus tax system as well as to remain a highly compliant and attractive jurisdiction, the introduction of the non-domicile (shortened to Non-Dom) scheme aims to give Cyprus a competitive edge over other jurisdictions.

How are Cyprus banks handling the island's high rate of NPLs? Can more be done to combat them?

How are Cyprus banks handling the island's high rate of NPLs? Can more be done to combat them?

It is no secret that the Cyprus banking sector is struggling with the overwhelming level of Non-Performing Loans (NPLs), no matter the efforts exerted by the main banks in Cyprus by following conventional banking models to balance their profit/loss reports, NPLs remain to be the proverbial hole in the bucket.

Income tax exemptions for expats living in Cyprus: what are your options?

Income tax exemptions for expats living in Cyprus: what are your options?

Situated in the Eastern Mediterranean, the Republic of Cyprus boasts a strategic geographical location at the hub of three continents; Europe, Asia and Africa and a pleasant sunny climate year round.

The UK Persons of Significant Control Register & its impact on companies

The UK Persons of Significant Control Register & its impact on companies

The requirement to maintain a register of people with significant influence or control, more commonly known as the PSC register was introduced to mandate all unlisted companies in the UK, including LLPs and dormant companies to maintain a register identifying those with significant control over a company.

Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law

Cyprus implements the Hague Convention, legally recognising Trusts as a type of Equitable Law

This year, the Republic of Cyprus ratified The Hague Conventions’ definition of the legislation applicable to trusts and furthering the regulations surrounding their recognition. Cyprus common law now recognises trusts as a unique legal institution under equity.