Business entities must register with the appropriate regional
division of the Commercial
Register (Komercregistrs), providing the appropriate documentation
for their chosen corporate form, which for a limited liability
company is likely to include memorandum and articles of association,
evidence from the bank regarding paid-up share capital, board
member details, and registration fee. On paying the registration
fee, the application is considered within three working days.
Registration with the tax authority occurs simultaneously.
Certain documents required to accompany the application must
be notarized.
Although the process for establishing a business in Latvia
is (relatively!) straightforward, the services of a Latvian
translator are likely to be necessary, as forms will usually
need to be completed in Latvian.
Business forms likely to be of interest to small businesses
include: Sole Proprietorship, Limited Liability Company, General
and Limited Partnership forms are also available.
A Sole Proprietor can set up a new business very easily.
Registration with the Commercial Register is still required
(costs are minimal – approximately EUR160) and there
is no legal requirement to have initial start-up capital.
Evidence of trading name, address and information about the
individual are all that is required.
A Limited Liability Company (SIA) is the most common structure.
Minimum share capital of around EUR3,000 is required and there
must be at least one director. Foreigners may be directors
of a Latvian limited liability company. More details are required
when registering a limited liability company as opposed to
a sole proprietor. Costs (fees) involved in setting up a SIA
are in the region of EUR450 – this excludes any professional
advice received from an accountant or other expert.
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
Cyprus
Full Guide
Previous 
Latvia Summary
