A sole proprietor is a natural person registered in the Commercial Register.

A natural person is obliged to register themselves in the Commercial Register as an individual merchant if they meet any of the following criteria:

• the annual turnover from the economic activity they perform exceeds EUR 284,600;

• the economic activity they perform corresponds to the activities of a commercial agent (Section 45 of the Commercial Law) or a broker;

• their annual turnover from economic activity exceeds EUR 28,500, and they simultaneously employ more than five employees to carry out their economic activity.

A natural person may apply for registration in the Commercial Register even if they do not meet the above-mentioned requirements.

A sole proprietor is a natural person who performs economic activity. An individual merchant is liable for his obligations with all his property.

Documents to be submitted:

• application form KR2 (signatures must be certified - either notarized or with a secure e-signature to submit electronically);

• a questionnaire for the inclusion of information in the Register of Natural Persons of a foreigner (foreigner) who has a legal relationship with Latvia, on the basis of which mutual rights and obligations in the field of commercial activity and taxation are formed or have been formed, but has not been assigned a personal identification number of the Republic of Latvia.

The name or firm is the name of the merchant entered in the Commercial Register, which it uses in commercial activities, when concluding transactions and signing.

The legal address of the merchant is the address that the merchant uses for official communication. The merchant must ensure that correspondence is received at the legal address.

Information about the cadastral designation of a real estate object (building, apartment property or premises) can be found in the Cadastral Information System www.kadastrs.lv.

If the merchant wishes to obtain the status of a micro-enterprise taxpayer at the same time as registration, he can apply for this status by marking it in paragraph 8 of the application form KR2 or by submitting an application for obtaining the status.

The deadline for submitting documents to the Enterprise Register: not specified.

Registration of a new individual merchant (WITH DOCUMENTS PREPARED BY THE SYSTEM)