Professional accounting services for small and medium enterprises.

Our services include, but are not limited to: Audit; Payroll services; Company formation; Liquidation.

Current tax rate on Latvian company's:
  • If Company's profit Reinvested then tax rate is 0
  • If Company's profit distributed to shareholders as dividends tax rate is 25%
Download TaxRatesInEU2017 and stay updated on yearly basis.

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Company formation / liquidation

Current tax rate on Latvian company's:

  • If Company's profit Reinvested then tax rate is 0
  • If Company's profit distributed to shareholders as dividends tax rate is 25%
 

Ready-made company: Latvian company formation

Incorporation documents have to be notarized. All founders and Board members are required to be present or have to issue a notarized power of attorney for someone who will represent them throughout the process. Accounting.eu Project can help you setting up an Latvian company in your desired form. We can prepare the documents necessary and guide you through the procedure that ends with filing the foundation documents to the Commercial Registry in a couple of hours. We can provide a legal address for your company and can also represent you at the bank or in different government institutions. Bank account can be opened anywhere in Europe!  

Fill the ordering form to proceed.

The registration process itself takes max 5 business days. You can start the activities after the company will be registered.  

For company registration pls provide us with the following:

company name (company name, can not be registered if already registered www.lursoft.lv), how big share capital (usually 2000 EUR or 1 EUR), shareholders/board members passport copy if pshisical person with living address, will you require legal address? Who will have signature rights.


99% of our customers have rated our customer service with 5 stars.

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Accounting / Audit

We can do a great job preparing your accounts, but getting the books together at year-end isn’t the end of the story. Using them to make informed business and personal decisions is the most important bit.

With our help you’ll be able to:

  • See from your accounts exactly how profitable and stable your business is.
  • Make good, solid plans for the year ahead.
  • Decide how to finance things.
  • Use the information for making the right business decisions.

More than accounts – it all adds up!

We won’t just hand over your accounts and leave you to figure out what it all means. We’ll review the financial performance of the business with you, and we’ll answer your questions and advise you in plain English. It really helps that our partners are all business owners themselves. They feel your pain and speak your language!

Bookkeeping

Our flexible approach means we can visit your premises to process your work or set up remote access – whichever suits you best. Offering a cost effective and reliable system which removes the need for you to employ your own accounts staff.

Management accounts

We won’t just produce management accounts and reports, we’ll help you put these to good use. You’ll be able to see how profitable and stable your business is, make good, solid plans and use the information for making the right business decisions.

Non statutory audit

Even though many businesses don’t need to have an audit by law, many of our clients still choose to have one, as there are tremendous benefits available. Indeed, there are strong commercial arguments for having an audit, such as getting the best price when you come to sell, keeping banks happy when you need help with finance, keeping credit insurers and suppliers happy, but most of all, giving you the comfort of knowing that you have strong controls and accurate results.

Statutory audit

An audit’s no less valuable because it’s been forced upon you by law. You’ll end up with a wealth of information that can be used to fine tune your business and boost your profits to the max.
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Change tax residency in EU

Which country can tax you?

There are no EU-wide rules that say how EU nationals who live, work or spend time outside their home countries are to be taxed on their income. However, the country where you are resident for tax purposes can usually tax your total worldwide income, earned or unearned. This includes wages, pensions, benefits, income from property or from any other sources, or capital gains from sales of property, from all countries worldwide. Each country has its own definition of tax residence; yet:
  • You will usually be considered tax-resident in the country where you spend more than 6 months a year
  • If you spend less than 6 months a year in another EU country, you will normally remain tax-resident in your home country

Dual residence

In some cases, two countries could consider you a tax-resident at the same time, and both could require you to pay taxes on your total worldwide income. Fortunately, many countries have double tax agreements, which usually provide rules to determine which of the two countries can treat you as a resident. If the tax treaty does not provide a solution or if your situation is particularly complicated, contact the tax authorities of one or both countries and ask them to clarify your situation.

Posted workers / jobseekers

In some cases, such as for workers posted abroad for a limited time or jobseekers abroad, you may be considered tax–resident, and therefore taxable, in your home country even if you stay abroad for more than 6 months - if you keep your permanent home in your home country and your personal and economic ties with that country are stronger. Contact the tax authorities to check which rules apply to you. In such a case, your host country may also tax you - your local employer may, for instance, deduct taxes from your salary at the time of payment. In addition, whether or not you continue to be resident in your home country, that country may tax income (for instance from property) arising there. In these cases, be aware that there are solutions to double taxation and make sure that your income is not taxed twice if it doesn't need to be.

Fictitious tax residence

Under some double tax treaties , the country where you earn all or almost all of your income will treat you as tax-resident, even if you don't live there. This status of fictitious tax-resident is granted by some countries to cross-border commuters. Under EU rules, each country still has a certain latitude to decide what percentage of your income represents 'almost all'. In any event, whether the country where you earn all or almost all of your income treats you as tax-resident or not, it will be obliged to give you the same allowances and tax reliefs that it gives to a resident. Of course if you receive all allowances available to residents in the country where you work, you could not expect to receive all allowances and reliefs available to residents in the country where you live as well. Be aware that tax authorities will communicate with each other to ensure that you don't receive a double set of allowances and reliefs.

Equal treatment

Under EU rules, no matter in which EU country you are considered a tax-resident, you should be taxed in the same way as nationals of that country under the same conditions. For example, in the country where you are tax-resident or where you earn all or most of your income, you should be entitled to:
  • any available family allowances and tax deductions for childcare costs, even if the costs are incurred in another EU country
  • any available tax deductions for interest on mortgages, even for a house you own in another EU country
  • joint tax assessment with your spouse, if this is possible in that country

FAQ

How much profit tax is paid in Latvia, if profit is reinvested

Profit tax is 0, if profit is reinvested in Latvian company.

Are the companies, sold by Accounting.eu Project without any previous history?

Yes. The companies have been founded for selling purposes only and haven’t had any activity. The fact will be stated in the notarized purchase agreement.

When can I start the activities?

You can start to use the company as soon as the purchase agreement will be signed. Some activities may require you being registered as a member of the board (this takes usually 3-5 days). To solve the problem you can get a notarized power of attorney for an extra fee and you can start as soon as you walk out of the notary office.

How quickly will the amendments be registered at the Commercial Registry?

Usually it takes 3-5 days after signing the purchase agreement. All amendments on the registry card will be done at once.

May Latvian company have several bank accounts / accounts abroad?

Yes, Latvian companies may have several bank accounts in the same bank or in different banks. Accounts outside Latvia are allowed.

Can anybody be the owner of an Latvian company?

Any legal or natural person can be the owner of an Latvian company.

Can anybody be the member of the management board of an Latvian company?

Anyone can be board member of company with Latvian address, which we can provide.

Can everybody see my name as a shareholder and board member in the register?

Everybody can see shareholders and management board members of an Latvian company. If the one making the request is not a government institution then the information is not free.

How many management board members are required for an Latvian company?

There has to be at least one person. Legal person can’t be a member of the management board.

Is it required to pay salary to the management board member?

Board member has to receive salary minimum 380 EUR, if turnover is more then 1800 EUR/per month.

Does an Latvian company need to have an office or an address in Latvian?

Yes, an Latvian company must have an address. PO Box can’t be used as an address. If you don’t have an address you can use we can provide address service for your company

Which document confirms the power of a management board member?

Such document is an official extract of the Commercial Register that contains data of the management board members of the company (names, date of birth, personal ID code and residence). Using this abroad may require getting an apostille to the document. If you’re going to open a bank account abroad the articles of association may be required (also with an apostille). As Latvian Commercial Registry will issue verified documents only in Latvian, you will probably need to get the documents officially translated. We can provide you the documents mentioned for an extra fee.

What kind of commercial activity may an Latvian company have?

An Latvian company may practice any commercial activity that is not prohibited by law.

Does an Latvian company need an activity license or permit?

For some areas (finance, construction, transportation services, etc) of business you need to fulfill the requirements of authorities and apply for an activity license. We can help you for an extra fee.

Can a foreign company establish a branch in Latvia?

Yes, it can. A branch is an independent unit or part of a foreign undertaking conducting business in the territory of the Republic of Latvia on behalf of the foreign undertaking. A branch is not a separate legal person and the foreign company will be responsible for the branch’s activities and liable for its obligations
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Contact Us

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Office

Accounting, Ltd
Phone: +371 26322736
Mail: info@accounting.eu
 

Address:

Terbatas street 14,
Riga, LV-1001, Latvia
Viber +371 26322736
Whatsapp +371 26322736





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