Incorporation of a company in Latvia with 1 EUR share capital

According to the World Bank's (WB) Doing Business 2017 rating, Latvia recently has risen from 22nd place to 14th by improving its business regulations as it was captured by the Doing Business indexes. In the past year substantive improvements were implemented in such areas as credit information access, less complicated paying taxes procedure, online systems optimization for filing labor contributions and tax returns.
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Following mentioned reforms, opening a Latvian company has become easier than in the past few years and even decades. A traditional Limited Liability Company (LLC or SIA in Latvian) remains the most widely used company format for businesses of small and medium scale. Of course, there are more options available when it comes to company incorporation in Latvia – Individual Merchant (or Sole Trader ST), Joint-Stock Company (JSC), Legal Partnerships and Branch or Representative Offices. However, LLC takes the lead due to several rather convenient advantages it offers to Latvian businessmen.

As it is well known, LLC companies' incorporation usually requires a share capital which can be divided into shares which belong to shareholders who have no legal liabilities for the company's obligations because a company is liable for its obligations with its total assets. Usually a Latvian LLC must have share capital which varies from 1 up to 2,800 euros, meaning that minimum share capital for company incorporation can be only 1 euro (€). This type of a company is becoming more and more popular today as it is perfect way of doing business in Latvia with minimum investment. There are also several obligatory requirements for such company format.

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