Doing business in Latvia
Today in Latvia there are 47.200 active enterprises, according to the data provided by the Register of Enterprises of Latvia. The Latvian economy recovers from the year 2008 economic crisis. On the 1st January year 2014 Latvia introduces Euro, which will be an extreme contribution to the development of business in Latvia.
The geographical position of Latvia is also very convenient for development of trade and transit between the EU and Russia. Three biggest ports of Latvia are located in Riga, Ventspils, and Liepaja. Free port of Ventspils is the busiest port in the Baltic States, but the Riga International Airport is the busiest airport in the Baltic States with 4.7 million passengers in year 2012.
It may be pretty hard to run your business in the beginning, since Latvian legislation provides many requirements and restrictions, which has to be followed. However, once the things are settled up and all the formal issues are solved – you may develop your business pretty quick.
In order to get some basic information on how to start your business in Latvia, you can read about the following topics:
- Company formation process in Latvia(how to register your business in Latvia)
- Company naming (desired name availability check)
- Taxes in Latvia (a short guide to taxes and tax rates in Latvia)
- Opportunities and advantages of doing business in Latvia (discover new opportunities of running business in the EU)
If you seek for a legal consultation or you have a question, answer to which you cannot found here – feel free to contact us at any time!