Latvia – Branch

Introduction to setting up a branch in Latvia

Latvia is popular for establishing branches as the country is well positioned for company expansion between Northern and Eastern Europe and the Baltic market is developing quickly. Foreign investment is encouraged into the country through financial incentives and foreign investors are generally treated equally with local investors.

What are the accounting requirements for a Latvian Branch?

VAT registration of the branch with the State Revenue Service is required for VAT purposes, and VAT returns should be filed monthly.

The branch company is also required to submit monthly tax accounts to the State Revenue Service and a financial report must be submitted every year.

If you need further information on accountancy and tax rates in Latvia please contact us.

What are the formalities regarding Latvian branches?

– A copy of the parent company’s Certificate of Incorporation
– A copy of the parent company’s Certificate of Good Standing
– Memorandum & Articles of Association of the parent company
– The registered address of the Latvian office
– A Latvian branch representative who is not required to be a Latvian resident

The documents shown above are required by the Latvian Commercial Registry in order to register the branch.

All required incorporation documents must be officially notarised and translated into Latvian by a certified translator.

What office facilities are available when registering a branch?

There are three main types of office available in Latvia:

– Registered office is an effective address for all branch correspondence

– Virtual offices provide off-site communication. Virtual offices in Latvia include a central location, telephone, fax and mail forwarding facilities

– Serviced offices include all necessary business services and are ready for immediate occupation

We will handle every aspect of the branch formation for you. Using our expert knowledge we can offer a branch formation package in which we take care of branch registration, issue of the certificates of registration, local directors, local representative and place of business in Latvia, tax registration, VAT registration, and translation of documents (if required).

Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple branches. The benefits for establishing multiple branches include further increased exposure and global presence, and we can organise everything for you.

A summary of Latvian Corporate Taxes is available here.