The share capital may be increased only on the basis of a decision of the meeting of shareholders laying down the rules for the increase of the share capital. The board of directors shall submit an application for the increase of the equity capital after the expiry of the term of payment indicated in the terms of the increase of equity capital or after all the declared equity capital has been paid up (if the equity capital has been paid up before the end of the relevant term). Fixed capital shall be regarded as increased and rights arising from new shares shall arise from the day when the new fixed capital value is entered in the commercial Register.

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);
• new version of the Statutes (signatures to be certified - or notarially or with a secure e-signature to be submitted electronically);
• the text of the amendments to the Statutes;
• the provisions for the increase of fixed capital;
• applications by participants or third parties for the acquisition of shares;
• a division of the register of participants (signatures shall be certified - or notarially, or with a secure e-signature in order to submit electronically);
• a statement of the payment service provider or another document regarding payment of the share, if the share capital is increased by a cash injection already made;
• questionnaire for inclusion of information in the Register of natural persons of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and duties in the field of commercial activities and taxation are formed or have developed, but personal identity number of the Republic of Latvia has not been granted (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)
• if the application is submitted via postal services, information regarding payment of the State fee shall be appended (receipt or a copy thereof, or printout of an Internet bank payment or free text information).

Deadline for submission of documents in the Enterprise Register: 3 days from signing of the partition in the Register of Participants.

If the share capital is increased, including the positive difference or the mandatory reserve, documents certifying their inclusion in the share capital need not be submitted