Considering that the Commercial Register of Enterprises also registers the capital companies of a public person (State and local government capital companies) - capital companies, in which all shares of capital or voting rights belong to one public person, the following shall be indicated.
In accordance with Section 1, Sub-paragraphs 1 and 2 of the Law on State Administration Equipment, a public person shall be the Republic of Latvia as an initial legal person of public law and derived public persons. They operate in accordance with the principles of public law, while a derived public person - a local government or another public person established by law or on the basis of the law, who is granted his or her own autonomous competence by law, which also includes the formation and approval of his or her budget and may have his or her own property.
In the light of this, taking into account in particular the definition of a public person, if the State and local government capital company operates in conformity with regulatory enactments, it is not possible to identify the true beneficiary thereof. If the true beneficiary of State and local government capital companies cannot be identified, the application for the true beneficiary must certify that it is not possible to identify the true beneficiary by taking responsibility for the veracity of the information provided.