Latvia has recently become popular among foreign investors as a country for entering the European market and changing permanent residence in Europe. The number of companies opened in Latvia by non-residents is constantly growing. In this regard, in accordance with the changes in the Latvian legislation, the requirements for the company registration in Latvia have been significantly simplified, as well as a special holding regime and the possibility of obtaining a residence permit in Latvia for owners of Latvian companies has appeared.
Latvia is a member of the European Union, WTO, NATO, and has also signed the Schengen Agreement. Participation in the European Union made it possible for Latvia to strengthen European trade ties, while maintaining the traditionally established trade relations with the CIS countries.
Advantages of company registration in Latvia
1. One of the main advantages of Latvia is its unique location. Latvia is located on the border between East and West. Latvia is quite advantageously located on the border of the CIS countries and Western Europe. Latvia shares borders with such countries as: Estonia, Russia, Belarus and Lithuania. Latvia is washed by the Baltic Sea, which gives access to the Scandinavian countries.
2. Possibility of obtaining a residence permit. Not many European countries provide an opportunity to obtain a residence permit for five years when a company is registered and running. Also, in other countries, the term for obtaining a residence permit takes more than six months. The procedure for obtaining a residence permit in Latvia takes from two weeks to two months, moreover, it is possible to carry out its procedure remotely with the need to come to Latvia to obtain ID cards for a residence permit only for 3 days.
3. The speed of company registration. The terms of company registration in Latvia are short, the company can be registered in 2 days. Company registration is possible both remotely and upon arrival.
4. 0% VAT rate is applied in transactions of sale and purchase of goods and the provision of services between a Latvian company and companies from another European Union country.
5. The payment of dividends to legal entities is not taxed.