The minimum amount of fixed capital up to which the share capital may be reduced shall be EUR 2 800. The share capital may be reduced by deleting the shares or reducing the nominal value of the share. The reduction of fixed capital is carried out in two stages.

We note that under commercial Law, participants/shareholders have the right to participate and vote in the meeting remotely, or to vote before the meeting. Read more in the Explanatory Notes on Remote participation in meetings of Members, shareholders and Members section.

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

Documents to be submitted:

• application form KR18;
• minutes or decision of the meeting of participants (signatures must be certified - or notarially, or with a secure e-signature in order to submit electronically);
• a questionnaire for inclusion of information in the Register of natural persons (to be signed by the foreigner himself or herself with a secure electronic signature in order to submit electronically; if there is no secure electronic signature, this document shall not be submitted) of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and obligations in the field of commercial activities and taxes are formed or have developed, but no personal identity number of the Republic of Latvia has been granted;
• provisions for reduction of fixed capital.

Deadline for submission of documents in the Enterprise Register: immediately after the decision has been taken.