Companies

Business activities – represent long-term or systematic economic activities and capital contribution aimed at the production, sales of goods, performance of operations, trade, services for the purpose of gaining a profit.

Businessman – a natural or legal person or amalgamation of a series of such persons appropriating a share of their property for carrying on business, managing a company and its property, and acting as claimant or respondent in the court in cases defined by law.

Form of business activities – the legal limits established by law, within which a businessman has founded a company or a business running company aimed at business activities. Enumeration of the forms of business activities laid down in the law "On Entrepreneurship" is sufficiently complete.

Individual company

Process of registration

Contract of foundation or decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service.

Registration in the Register of Enterprises

Application and the attached documents have to be submitted to the corresponding regional department of the Register of Enterprises in accordance with the legal address of the merchant. Application may be submitted by founders or any other person authorized by the founders to do so. Application and the attached documents may be sent by mail as well.

When submitting documents for registration to the Register of Enterprises they have to be listed in the application specifying the number of copies and page count. In compliance with Paragraph 6 and 7 of the Cabinet Regulations No. 154 of the 23 April 1996, the document may not be written by pencil or in other unstable type that is technically easy to correct. Documents that have several pages have to be sewn. The document may not be erased, corrected, with non-stipulated corrections, with crossed-out words and improvements. The erroneous notes have to be crossed-out and any correction has to be stipulated.

State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.

The Chief State Notary of the Register of Enterprises has the rights to issue an order on consideration of the registration application in the term specified by law and pay-back of the overpaid state fee, if the Register of Enterprises cannot consider the registration application within one working day due to the technical reasons.

Form: 4.
State fee/ Period of time for consideration of documents (working days): 50 LVL/ 3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 150 LVL/ 1 working day
Publication in the official gazette Latvijas Vēstnesis: 16 LVL

Documents to be submitted

Form 4
Notarized sample signature of the person who has the signatory powers in the undertaking.
Receipt confirming the state fee payment.
Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Individual company– represents the entity of law established for organizing the property of a single natural person to carry on business in the order established by this law and the law of the Republic of Latvia "On Entrepreneurship" dated 26th September 1990. A businessman shall be liable for the obligations of its company to the extent of his entire property. Generally the law "On Individual (Family) Company, Farm or Fishing Farm and Individual Labour" regulates the business.Process of registration
Contract of foundation or decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service. Registration in the Register of EnterprisesApplication and the attached documents have to be submitted to the corresponding regional department of the Register of Enterprises in accordance with the legal address of the merchant. Application may be submitted by founders or any other person authorized by the founders to do so. Application and the attached documents may be sent by mail as well.When submitting documents for registration to the Register of Enterprises they have to be listed in the application specifying the number of copies and page count. In compliance with Paragraph 6 and 7 of the Cabinet Regulations No. 154 of the 23 April 1996, the document may not be written by pencil or in other unstable type that is technically easy to correct. Documents that have several pages have to be sewn. The document may not be erased, corrected, with non-stipulated corrections, with crossed-out words and improvements. The erroneous notes have to be crossed-out and any correction has to be stipulated. State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.The Chief State Notary of the Register of Enterprises has the rights to issue an order on consideration of the registration application in the term specified by law and pay-back of the overpaid state fee, if the Register of Enterprises cannot consider the registration application within one working day due to the technical reasons.Form: 4.
State fee/ Period of time for consideration of documents (working days): 50 LVL/ 3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 150 LVL/ 1 working day
Publication in the official gazette Latvijas Vēstnesis: 16 LVL

Documents to be submitted

Form 4

Notarized sample signature of the person who has the signatory powers in the undertaking.

Receipt confirming the state fee payment.

Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Agricultural Farm

Process of registration

Decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service.

Registration in the Register of Enterprises

State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.

Form: 5.
State fee/ Period of time for consideration of documents (working days): 20/3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 60/ 1 working day
Publication in the official gazette Latvijas Vēstnesis: No

Documents to be submitted

Form 5
Decision of the local government or the Land Comission on the assignment of the piece of land for the use or the notarized copy of the Land Register Deed regarding the ownership of the piece of land.
Notarized sample signature of the person who has the signatorey powers in the agricultural farm.
Receipt confirming the state fee payment.

Farm represents a specific individual company producing agricultural products utilizing land for this purpose as the main means of production. A businessman shall be liable for the obligations of its company to the extent of his entire property. Generally the law "On Individual (Family) Company, Farm or Fishing Farm and Individual Labour" regulates the business.Process of registration
Decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service. Registration in the Register of EnterprisesApplication and the attached documents have to be submitted to the corresponding regional department of the Register of Enterprises in accordance with the legal address of the merchant. Application may be submitted by founders or any other person authorized by the founders to do so. Application and the attached documents may be sent by mail as well.When submitting documents for registration to the Register of Enterprises they have to be listed in the application specifying the number of copies and page count. In compliance with Paragraph 6 and 7 of the Cabinet Regulations No. 154 of the 23 April 1996, the document may not be written by pencil or in other unstable type that is technically easy to correct. Documents that have several pages have to be sewn. The document may not be erased, corrected, with non-stipulated corrections, with crossed-out words and improvements. The erroneous notes have to be crossed-out and any correction has to be stipulated. State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.The Chief State Notary of the Register of Enterprises has the rights to issue an order on consideration of the registration application in the term specified by law and pay-back of the overpaid state fee, if the Register of Enterprises cannot consider the registration application within one working day due to the technical reasons.Form: 5.
State fee/ Period of time for consideration of documents (working days): 20/3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 60/ 1 working day
Publication in the official gazette Latvijas Vēstnesis: No

Documents to be submitted

Form 5

Decision of the local government or the Land Comission on the assignment of the piece of land for the use or the notarized copy of the Land Register Deed regarding the ownership of the piece of land.

Notarized sample signature of the person who has the signatorey powers in the agricultural farm.

Receipt confirming the state fee payment.

Fishermen’s household

Process of registration

Decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service.

Registration in the Register of Enterprises

State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.

Documents to be submitted

Form 5
Decision of the local government regarding the allocation of the fish limits.
Notarized sample signature of the person who has the signatorey powers in the fishermen’s household.
Receipt confirming the state fee payment.
Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Fishing farm is a specific company carrying on business applying the fish resources limits appropriated for this purpose. A fisherman may also carry out farming on land. A businessman shall be liable for the obligations of its company to the extent of his entire property. Generally the law "On Individual (Family) Company, Farm or Fishing Farm and Individual Labour" regulates the business.

Pursuant to Article 17 of "The Law on the procedures for the coming into force of the Commercial Law" an individual company, a farm and a fishing farm may apply to enter in the Commercial register as a limited liability company, an individual company, a stock company.Process of registration
Decision regarding the foundation >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service. Registration in the Register of EnterprisesApplication and the attached documents have to be submitted to the corresponding regional department of the Register of Enterprises in accordance with the legal address of the merchant. Application may be submitted by founders or any other person authorized by the founders to do so. Application and the attached documents may be sent by mail as well.When submitting documents for registration to the Register of Enterprises they have to be listed in the application specifying the number of copies and page count. In compliance with Paragraph 6 and 7 of the Cabinet Regulations No. 154 of the 23 April 1996, the document may not be written by pencil or in other unstable type that is technically easy to correct. Documents that have several pages have to be sewn. The document may not be erased, corrected, with non-stipulated corrections, with crossed-out words and improvements. The erroneous notes have to be crossed-out and any correction has to be stipulated. State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.The Chief State Notary of the Register of Enterprises has the rights to issue an order on consideration of the registration application in the term specified by law and pay-back of the overpaid state fee, if the Register of Enterprises cannot consider the registration application within one working day due to the technical reasons.Form: 5.
State fee/ Period of time for consideration of documents (working days): 20/3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 60/ 1 working day
Publication in the official gazette Latvijas Vēstnesis: 16 LVL

Documents to be submitted

Form 5

Decision of the local government regarding the allocation of the fish limits.

Notarized sample signature of the person who has the signatorey powers in the fishermen’s household.

Receipt confirming the state fee payment.

Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Cooperative society

Process of registration

Contract of foundation >>> Payment of the equity capital >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service.

Registration in the Register of Enterprises

State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.

Form: 2.
State fee/ Period of time for consideration of documents (working days): 100/3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 300/1 working day
Publication in the official gazette Latvijas Vēstnesis: 24 LVL

Documents to be submitted

Form 2
Memorandum of association (signed by all the founders).
Articles of association (signed by all the founders or the persons authorized by the foundation meeting).
Minutes of the foundation meeting.
Bank notice on the payment of the equity capital.
Document that attests the value of the property contributions (if the property contributions are provided).
Notarized sample signatures of the members of the board of directors.
Document on the legal address.
Receipt confirming the state fee payment.
Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Cooperative (cooperative society) – a partnership of natural and legal persons established on voluntary basis aimed at – rendering services to increase the efficiency of business activities for its members.Process of registration
Contract of foundation >>> Payment of the equity capital >>> Registration in the Register of Enterprises >>> Opening of a bank account >>> Registration in the State Revenue Service. Registration in the Register of EnterprisesApplication and the attached documents have to be submitted to the corresponding regional department of the Register of Enterprises in accordance with the legal address of the merchant. Application may be submitted by founders or any other person authorized by the founders to do so. Application and the attached documents may be sent by mail as well.When submitting documents for registration to the Register of Enterprises they have to be listed in the application specifying the number of copies and page count. In compliance with Paragraph 6 and 7 of the Cabinet Regulations No. 154 of the 23 April 1996, the document may not be written by pencil or in other unstable type that is technically easy to correct. Documents that have several pages have to be sewn. The document may not be erased, corrected, with non-stipulated corrections, with crossed-out words and improvements. The erroneous notes have to be crossed-out and any correction has to be stipulated. State fee has to be paid before document submission and that can be done in any bank after providing the following requisites.The Chief State Notary of the Register of Enterprises has the rights to issue an order on consideration of the registration application in the term specified by law and pay-back of the overpaid state fee, if the Register of Enterprises cannot consider the registration application within one working day due to the technical reasons.Form: 2.
State fee/ Period of time for consideration of documents (working days): 100/3 working days
Threefold state fee/ Period of time for consideration of documents (working days): 300/1 working day
Publication in the official gazette Latvijas Vēstnesis: 24 LVL

Documents to be submitted

Form 2

Memorandum of association (signed by all the founders).

Articles of association (signed by all the founders or the persons authorized by the foundation meeting).

Minutes of the foundation meeting.

Bank notice on the payment of the equity capital.

Document that attests the value of the property contributions (if the property contributions are provided).

Notarized sample signatures of the members of the board of directors.

Document on the legal address.

Receipt confirming the state fee payment.

Receipt confirming the publication in the official gazette Latvijas Vēstnesis.

Concerns

A concern represents the aggregate of a ruling enterprise and one or more depending companies. Here you have an opportunity to get information of the procedure of any concern registration with the Register of Enterprises, as well as to become acquainted with the statistics of concerns registration in Latvia. Concern activities are regulated by "The Law on Concerns" (came into effect from 27th April, 2000).

Liquidation of companies

A resolution passed on proceeding to liquidation of a company should be declared within 15 days from the date of passing to make an entry in the Register of Enterprises. A person who passes a resolution regarding liquidation of company shall appoint a liquidator (receiver) or a liquidation committee that manages the company during the process of liquidation.

Liquidation of an individual company (a farm or a fishing farm) shall be carried out by the owner of an company or a liquidator (receiver) appointed by him.

Liquidation of a limited liability company (LLC) shall be carried out by the executive body (Board of Directors, directorship, administration, etc.) Meeting of LLC members may elect any other liquidators (receivers).

Liquidation of a stock company shall be carried out by the Board of Directors, deemed in this case as liquidator (receiver) of a company. Meeting of stockholders may elect other liquidators.

Having elected liquidators, the executive body shall resign their commission and keep liability till the company liquidation.

In order to start a liquidation procedure, the following documents must be submitted to the Register of Enterprises:

Document	Notes
Application to delete the company, its branch or representative office from the Register of Enterprises (Form no.9), signed by the liquidator or a person authorized in the meeting (or by the decision) of shareholders.
Minutes of the meeting of shareholders, where a decision to start the liquidation procedure is taken or in case of the undertaking of one owner a decision on liquidation.	Information regarding name, surname, identity code and address of the liquidator to be provided for in this document and in case where the liquidator is a legal person its name, registration number and legal address ass well as the above mentioned information of its representatives to be provided.
A notarized sample of signature of the liquidator	In case where a notarized sample of signature of the liquidator already exists in the registration file of the relevant company, it must not be submitted repeatedly.
A receipt confirming the payment of state fee for registration record in the amount of 5 LVL	The state fees to the Register of Enterprises are payable at: The State Treasury Taxpayers' reg. No. 90000050138 The Treasury Code: TRELLV22 Account: LV84TREL1060190913200

For registration of any changes regarding information on liquidators, the following documents must be submitted to the Register of Enterprises:

Appointment of another liquidator

Document	Notes
Application (Form no.9) signed by the liquidator Minutes of the meeting of shareholders, where a decision to start the liquidation procedure is taken or in case of the undertaking of one owner a decision on liquidation. A notarized sample of signature of the liquidator
A receipt confirming the payment of state fee for registration record in the amount of 5 LVL	The state fees to the Register of Enterprises are payable at: The State Treasury Taxpayers' reg. No. 90000050138 The Treasury Code: TRELLV22 Account: LV84TREL1060190913200

Change of liquidator's surname

Document	Notes
Application (Form no.9) signed by the liquidator A notarized sample of signature of the liquidator
A receipt confirming the payment of state fee for registration record in the amount of 5 LVL	The state fees to the Register of Enterprises are payable at: The State Treasury Taxpayers' reg. No. 90000050138 The Treasury Code: TRELLV22 Account: LV84TREL1060190913200

Change of the liquidator"s address

Document	Notes
Application (Form no.9) signed by the liquidator
A receipt confirming the payment of state fee for registration record in the amount of 5 LVL	The state fees to the Register of Enterprises are payable at: The State Treasury Taxpayers' reg. No. 90000050138 The Treasury Code: TRELLV22 Account: LV84TREL1060190913200

A liquidator shall perform the necessary activities for the organization of the company documents and their transfer to the State archives.

A liquidator values property of an company and compiles a liquidation balance sheet.

If it is found during the course of the liquidation that the property of the company is not sufficient to satisfy all the legitimate claims of creditors, the liquidator has a duty to submit an insolvency petition in accordance with the procedures specified by law.

The remaining property after the claims of creditors and payments to the employees shall be divided among the shareholders in proportion to the shares owned by each shareholder.

In order to delete the company from the Register of Enterprises after the completion of liquidation procedure the following documents must be submitted:

Document	Notes
Application to delete the company, its branch or representative office from the Register of Enterprises (Form no.11), signed by the liquidator
Original Registration Certificate	In case where the Registration Certificate is lost, an application regarding this fact must be prepared
A reference from the State Revenue Service confirming that the State Revenue Service agrees with liquidation and that there are no debts to the state budget	The reference is valid 10 days from the date of issuance
A receipt confirming the payment of state fee for deletion of the company from the Register of Enterprises in the amount of 5 LVL	The state fees to the Register of Enterprises are payable at: The State Treasury Taxpayers' reg. No. 90000050138 The Treasury Code: TRELLV22 Account: LV84TREL1060190913200

The company is considered as liquidated after deletion from the Register of Enterprises.

Document

Notes

Application to delete the company, its branch or representative office from the Register of Enterprises (Form no.9), signed by the liquidator or a person authorized in the meeting (or by the decision) of shareholders.

Minutes of the meeting of shareholders, where a decision to start the liquidation procedure is taken or in case of the undertaking of one owner a decision on liquidation.

Information regarding name, surname, identity code and address of the liquidator to be provided for in this document and in case where the liquidator is a legal person its name, registration number and legal address ass well as the above mentioned information of its representatives to be provided.

A notarized sample of signature of the liquidator

In case where a notarized sample of signature of the liquidator already exists in the registration file of the relevant company, it must not be submitted repeatedly.

A receipt confirming the payment of state fee for registration record in the amount of 5 LVL

The state fees to the Register of Enterprises are payable at:

The State Treasury

Taxpayers' reg. No. 90000050138
The Treasury
Code: TRELLV22
Account: LV84TREL1060190913200

For registration of any changes regarding information on liquidators, the following documents must be submitted to the Register of Enterprises:Appointment of another liquidator

Document

Notes

Application (Form no.9) signed by the liquidator

Minutes of the meeting of shareholders, where a decision to start the liquidation procedure is taken or in case of the undertaking of one owner a decision on liquidation.

A notarized sample of signature of the liquidator

A receipt confirming the payment of state fee for registration record in the amount of 5 LVL

The state fees to the Register of Enterprises are payable at:

The State Treasury

Taxpayers' reg. No. 90000050138
The Treasury
Code: TRELLV22
Account: LV84TREL1060190913200

Change of liquidator's surname

Document

Notes

Application (Form no.9) signed by the liquidator

A notarized sample of signature of the liquidator

A receipt confirming the payment of state fee for registration record in the amount of 5 LVL

The state fees to the Register of Enterprises are payable at:

The State Treasury

Taxpayers' reg. No. 90000050138
The Treasury
Code: TRELLV22
Account: LV84TREL1060190913200

Change of the liquidator"s address

Document

Notes

Application (Form no.9) signed by the liquidator

A receipt confirming the payment of state fee for registration record in the amount of 5 LVL

The state fees to the Register of Enterprises are payable at:

The State Treasury

Taxpayers' reg. No. 90000050138
The Treasury
Code: TRELLV22
Account: LV84TREL1060190913200

Publication in the newspaper "Latvijas Vēstnesis" of information regarding the commencement of liquidation and appointment of a liquidator is free of charge and the Register of Enterprises forwards it to the newspaper after the entry of the commencement of liquidation and appointment of the liquidator. The creditors of the company shall be invited to submit their claims within three months after the day of publication of the notice regarding the commencement of liquidation.A liquidator shall perform the necessary activities for the organization of the company documents and their transfer to the State archives.A liquidator values property of an company and compiles a liquidation balance sheet.If it is found during the course of the liquidation that the property of the company is not sufficient to satisfy all the legitimate claims of creditors, the liquidator has a duty to submit an insolvency petition in accordance with the procedures specified by law.The remaining property after the claims of creditors and payments to the employees shall be divided among the shareholders in proportion to the shares owned by each shareholder.In order to delete the company from the Register of Enterprises after the completion of liquidation procedure the following documents must be submitted:

Document

Notes

Application to delete the company, its branch or representative office from the Register of Enterprises (Form no.11), signed by the liquidator

Original Registration Certificate

In case where the Registration Certificate is lost, an application regarding this fact must be prepared

A reference from the State Revenue Service confirming that the State Revenue Service agrees with liquidation and that there are no debts to the state budget

The reference is valid 10 days from the date of issuance

A receipt confirming the payment of state fee for deletion of the company from the Register of Enterprises in the amount of 5 LVL

The state fees to the Register of Enterprises are payable at:

The State Treasury

Taxpayers' reg. No. 90000050138
The Treasury
Code: TRELLV22
Account: LV84TREL1060190913200

Insolvency of the company

form no.10

Companies

Individual company

Process of registration

Registration in the Register of Enterprises

Documents to be submitted

Agricultural Farm

Process of registration

Registration in the Register of Enterprises

Documents to be submitted

Fishermen’s household

Process of registration

Registration in the Register of Enterprises

Documents to be submitted

Cooperative society

Process of registration

Registration in the Register of Enterprises

Documents to be submitted

Concerns

Liquidation of companies

In order to start a liquidation procedure, the following documents must be submitted to the Register of Enterprises:

For registration of any changes regarding information on liquidators, the following documents must be submitted to the Register of Enterprises:

In order to delete the company from the Register of Enterprises after the completion of liquidation procedure the following documents must be submitted:

Insolvency of the company

Documents to be submitted

Documents to be submitted

Documents to be submitted

Documents to be submitted