General questions

Is it possible for foreigner to be founder or member of the board in latvian company?

Yes, the founder of latvian company may be foreign natural or legal person. There are no limitations for foreign citizens to enter the board of latvian company.

May the founder of the company and the member of the board be the same person?

Yes, the same person may be the founder and the member of the board, as well as different persons.

What time it takes to incorporate a company?

For the most popular type of latvian company – LLC it takes from 2 working days (in case there is only one founder of company) to 5 working days (if there are 2 or more founders). The time includes opening a temporary bank account, receiving the receipt from bank about equity capital been paid, submitting and receiving the documents from Register of enterprises of Latvia.

How large is the amount of equity capital of company?

The minimal equity capital for LLC is 2800 EUR. It is possible to pay a half of this amount before submitting the incorporation documents and other half – during 1 year since company been registered in the Commercial register of Latvia.