Due to the introduction of the euro in Latvia, each capital company must carry out a nominal capital (changes in the share capital to the euro). Companies that had not carried out a fixed capital denomination by 30 June 2016, notifying the Commercial Register Authority of any changes to the records of the Commercial Register or registration of documents (adding to the registration file), must at the same time apply for changes in the share capital to the euro.
We point out that, according to the Commercial Law, members/shareholders have the right to participate and vote at the meeting remotely or to vote before the meeting. Read more in the Explanatory to Remote Participation in Meetings of Members, Shareholders and Members.
Documents to be submitted:
Deadline for the submission of documents in the Enterprise Register: 3 days from the signature of the partition of the Register of Members.
Changes to the share capital may be unannounced in the following cases:
- a capital company which has not performed the denomination of the fixed capital shall apply for the termination of its activities and shall submit all applications relating to the liquidation. If it is decided to re-establish the activity of a capital company, an application for denomination will also be submitted at the same time as this application;
- undertakings for which insolvency proceedings have been initiated;
- those undertakings which will be wound up without liquidation in the reorganisation process.