The company is a legal entity.

• The minimum share capital is 2800 EUR.

• The founder can be a natural person or a legal entity.

• The share capital can be paid with a cash or property contribution.

A SIA must be registered with the Register of Enterprises in order to start a business.

The following must be submitted to the Register of Enterprises:

- Application.

- Decision of establishment (signature of the founder).

- Articles of association (signature of the founder). The articles of association determine the most important principles of the company's operation.

- Section of the register of participants. The section of the register of participants indicates the full composition of the participants and the distribution of shares. It is signed by the chairman of the board or a member of the board on the basis of a power of attorney signed by all members of the board.

- A certificate from a payment service provider or another document issued by a payment service provider regarding the payment of the share capital (if the share capital or part thereof is paid in cash and the cash investment exceeds EUR 50,000). Regardless of the amount of the share capital of the company being established, the founder opens a payment account in the name of the company being established and organizes the payment of money into it. If the cash investment is up to EUR 50,000, the founder must certify in the application that a payment account has been opened in the name of the company being established and the payment of the share capital has been made into it.

- An opinion on the value of the property investment (if the share capital is paid with a property investment). If the total value of the property investments does not exceed EUR 25,000 and the property investments together are less than half of the company's share capital, the property investment may be assessed and an opinion provided by the founder.

- Consent of a board member to hold a position, except in the case when the consent of the board member is included in the application to the commercial register office.

- Consent of each council member to hold a position (if a council has been established).

- Statement of the board regarding the legal address.

- 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 activities and taxes are being or have been formed, but has not been assigned a personal identification number of the Republic of Latvia (must be signed by the foreigner himself with a secure electronic signature in order to submit electronically; if there is no secure electronic signature, this document not submitted).

The application for registration must include information about the beneficial owners (BOB). A BOB is a natural person, the owner of a limited liability company or a person who controls a limited liability company and is at least a natural person who, through direct or indirect participation, owns more than 25 percent of the capital shares/voting rights of the limited liability company or who directly or indirectly controls it.

The legal address of the company is the address entered in the Commercial Register, which the company uses for official communication. 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

Simultaneously with the application for entry in the commercial register, the following can be submitted to the Enterprise Register:

• an application for registration in the register of persons subject to value added tax;

• an application for registration of a power of attorney.

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

Registration of a new LLC (1 founder)