Procedure of company registration
The process to register a Latvian SIA is as follows:
- Company name submitted for approval
- Once company name approval is received company documents are drafted and sent to the shareholders and directors to sign. The signatures must be notarized and Apostilled or witnesses by the Latvian Embassy.
- Once the documents have been signed and legalized the documents are then sent back to Latvia
- A temporary bank account is opened and the initial contribution for the subscribed shares is paid, the amount must be 50% of the share capital
- Once the documents are received in Latvia the documents are then submitted to the Register of Enterprises
- Within 3-4 working days the company will be registered
The average time for the incorporation process is approximately 14 working days.
Opening a Bank Account in Latvia:
Eltoma Corporate Services can open a bank account in Latvia without presence required in the following banks; Rietumu Bank, Baltikums Bank and AB L.V. The timescale for account opening is -approximately 7-10 working days.
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