Global Business Service Agency: legal services for business

Global Business Service Agency provides services in the field of tax optimization. Our experienced professionals help clients with the opening and maintenance of offshore companies and opening bank accounts. GBS Agency organizes and supports the work of companies on all continents.


Latvia is a country of reliability and stability. In 2017, the country recorded the lowest inflation rate among all the Baltic States. Besides, the last 5 years in the country there is an investment boom – the growth of investment in the Latvian economy in 2017 was 16%, which also allowed the country to achieve a record increase in GDP. However, today the Republican state attracts attention of incorporations, first of all, at the expense of advantageous territorial neighborhood and excellent relations with the countries  former participants of the USSR.

What is the benefit of registering a company in Latvia

  1. The state is a party to many interethnic organizations: NATO, WTO, and EU, which opens preferential conditions for trade and transport business.
  2. All founders and owners of incorporations in the jurisdiction can expect to receive a residence permit.
  3. The Latvian legislation allows all forms of companies to merge or change the organizational-legal form.
  4. From the moment of opening, all companies in the jurisdiction get the status of tax resident, which allows avoiding double taxation in 60 countries of the world.
  5. There are many tax incentives in the state: since 2014, taxes on intellectual property, income of firms from dividends, payment of pianos and interest to non-resident persons have been abolished.
  6. Basic rates of taxation of the enterprise:
    • Income tax for legal – from 20%;
    • Capital Gains tax – 15%;
    • VAT – 21%;
    • Tax at the source – up to 15%;
    • Income tax for individuals – 23%;
    • Stamp duty – 2%;
    • Duty – 0%.
  7. All Latvian companies, regardless of residency, must conduct financial and accounting reports, pass tax returns and reports on the wages.


Apply for and provide a company name
Notary registration of a company and its entry into the register
Receiving original documents
Opening a bank account

Company registration in Latvia: state requirements for incorporation

Established structure

In order to open a company in Latvia, it will require at least one shareholder, regardless of residence and form of management. It also requires the involvement of a director who can act as a resident of any country, but only natural. It should be noted that the accounting department operates outside the company's staff structure, and executives or the board is prohibited to keep records. All duties on the note of financial analysts are assigned to the employee or to the outsourcing.

Share capital

The minimum size of the declared and issued share capital is 2 thousand lats, the minimum amount of paid-1 thousand lats (Payment term – up to a year from the moment of the company registration). The whole statutory fund is divided into shares, within the size of which the responsibility of the founders is fixed.

Minimum package of documents:

  • Registration application;
  • Charter and foundation agreement;
  • Document confirming the sources of investment;
  • Resolution on the appointment of the Director, member of the supervisory board;
  • Nominal power of attorney.

The cost of opening a firm in the jurisdiction is from €700. On the issue of nominal service and registration of a package of certified documentation for remote registration, please contact the specialists of the company GBS Agency! All consulting services are free of charge!