Introduction to setting up a Latvian branch
Latvia is popular for establishing branches as the country is well positioned for company expansion between Northern and Eastern Europe and the Baltic market is developing quickly. Foreign investment is encouraged into the country through financial incentives and foreign investors are generally treated equally with local investors.
What are the formalities regarding Latvian branches?
- A copy of the parent company’s Certificate of Incorporation
- A copy of the parent company’s Certificate of Good Standing
- Memorandum & Articles of Association of the parent company
- The registered address of the Latvian office
- A Latvian branch representative – not required to be a Latvian resident
The documents shown above are required by the Latvian Commercial Registry in order to register the branch.
All required incorporation documents must be officially notarised and translated into Latvian by a certified translator.
What are the accounting requirements for a Latvian branch?
VAT registration of the branch with the State Revenue Service is required for VAT purposes, and VAT returns should be filed monthly.
The branch company is also required to submit monthly tax accounts to the State Revenue Service and a financial report must be submitted every year.
If you need further information on accountancy and tax rates in Latvia please visit our partners Accountancy In Europe.
What office facilities are available when registering a branch?
The following types of office are available in Latvia:
- A registered office is an effective address for branch correspondence
- A virtual office provides off-site communication facilities such as telephone, fax and mail forwarding
- A serviced office is a physical office space furnished with all the necessary business services and ready for immediate occupation
Branch formation packages
The branch formation packages that we offer provide all the services, such as bank account set up and VAT registration, needed to complete the formation process, enabling you to leave everything in our capable hands.
Our expert knowledge and experience of European formation requirements can also assist you in establishing multiple branches. As above we can organise everything for you so you can reap the benefits of new business and a global presence, while we do all the hard work.
For further information please send an enquiry or contact us using the form below.