Starting a business in a new country can feel complex, especially when navigating unfamiliar legal, tax, and administrative frameworks. Latvia, as a member of the European Union, offers a business-friendly environment, but compliance with local laws and efficient management are essential for long-term success.
Innovation Capital stands out as a trusted partner for entrepreneurs, investors and companies looking to establish and run their businesses in Latvia. With years of expertise in company formation, accounting and legal services, Innovation Capital provides a true one-stop-shop solution for both residents and non-residents.
Company registration made simple
Registering a company in Latvia involves preparing applications, drafting constituent documents, paying the required capital and submitting everything to the Commercial Register of Enterprises. Innovation Capital manages the entire process, ensuring that every step is carried out in compliance with Latvian legislation. We will support you in filling out all the required forms and guide you through the process. The process for establishing company in Latvia, if all the documentation is filled out correctly takes only a week or two. The process is pretty simple and fast comparing to other countries in Europe.
For a non-resident, registering a company in Latvia is usually quite fast compared to many other EU countries:
- Preparation of documents (application, articles of association, power of attorney if handled by a service provider): 1–3 working days.
- Submission to the Commercial Register: normally 3–5 business days for standard processing, or 1 business day with the expedited procedure (for an extra state fee).
- Bank account opening (if required for share capital deposit or future operations): can take a few days to a couple of weeks, depending on the bank and whether you choose a local bank or an EU-based fintech solution.
In practice, if a non-resident uses a professional service provider (like an accounting/legal firm), the company can usually be fully registered and operational in about 1–2 weeks.
By delegating the process to Innovation Capital, entrepreneurs can save time, minimize risk, and focus on developing their business.
Learn more about the Company Registration service.
Comprehensive accounting support
After registration of the company in Latvia, Innovatio Capital can also ensure all the services related to the accounting and submission of the reports to the relevant institutions in Latvia – Latvijas Valsts ieņēmumu dienests (State Revenue Service) and other institutions depending on the nature of the business.
Accurate and compliant accounting is the backbone of every successful business. Innovation Capital provides full-cycle accounting services for companies of all sizes and industries, including:
- Bookkeeping (invoices, payments, fixed assets, cash flow).
- Payroll administration (salaries, sick leave, leave allowances).
- Tax declarations and reporting to the State Revenue Service (VAT, income tax, social security, etc.).
- Annual financial statements and audit support.
- Preparation of statistical reports (Intrastat, Bank of Latvia, EU reporting).
- Representation in tax inspections or audits.
Clients benefit from modern accounting software, remote access options, and personal support from experienced accountants. Our service has been insured. All Innovatio Capital specialists hold professional indemnity insurance. This provides extra guarantees and security to all our clients.
Learn more about our:
- Accounting services to legal entities
- Tax services – planning, consulting and optimising
- Financial management
FAQ: starting a business in Latvia with Innovation Capital
1. Can non-residents register a company in Latvia?
Yes. Innovation Capital supports both residents and non-residents through the full registration process, including preparation of all necessary documents and representation with state institutions.
We have supported our clients – residents to open a company as well as non-residents.
2. What is the minimum share capital to open a company in Latvia?
A standard SIA (LLC) requires €2,800 share capital (with at least 50% deposited upon registration). However, under certain conditions, a “micro-company” can be registered with capital as low as €1.
We will consult you to find out the best solution for you.
3. How long does it take to register a company?
With Innovation Capital’s assistance, the process typically takes a few business days, depending on the company structure and capital requirements. We will support you will advice, filling out the documents and submission process.
3. Do I need to be physically present in Latvia to register my company?
Not necessarily. With proper authorization, Innovation Capital can handle registration remotely on your behalf. This is another benefit when working with professionals – you can save time and money, our team being on the field will make things happen for you.
4. Does Innovation Capital also handle payroll and tax filings?
Yes. Payroll, tax declarations, and financial reporting are included in their accounting services package. This is a part of our regular services that we offer to all our clients to ensure that they can deal with only one contact person while services are being managed by a team of professionals.
5. What if I later decide to close my company?
Innovation Capital offers company liquidation services, ensuring all legal and tax requirements are met.
Innovation Capital offers entrepreneurs in Latvia not just company registration services, but a complete ecosystem of accounting, payroll, legal support, and workspace solutions. Whether you are a local entrepreneur or a foreign investor, their experience ensures a smooth business launch and long-term success.
