The share capital may be increased only on the basis of a decision of the meeting of stockholders (if the articles of association do not authorise the board of directors to take the relevant decision), which determines the provisions 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). The share capital shall be regarded as increased and the rights arising from the new shares shall arise from the moment when the new amount of the share capital 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;
• an extract from the minutes of the meeting of stockholders (signatures to be certified);
• an extract from the minutes of the meeting of the Board of Directors by a decision on the increase of the share capital in the case referred to in Section 249, Paragraph four of the commercial Law and an extract from the minutes of the meeting of the Board by a decision to allow the Board to increase the share capital;
• the provisions for the increase of fixed capital;
• the new version of the Statutes (signatures to be certified);
• the text of the amendments to the Statutes;
• the last division of the register of stockholders, if the company has registered shares (signatures must be certified);
• a certificate issued by the Central Securities Depository regarding registration of dematerialised shares, if the company has dematerialised shares;
• a statement of the payment service provider or another document regarding payment of the part (if payment has been made with a monetary investment);
• an opinion regarding the value of the property investment, if the equity capital is paid up with the property investment;
• a document certifying the transfer of the financial contribution to the company, if the share capital is paid up with the financial contribution and it has already been transferred to the company;
• if the property investment is performed with transferable securities and money market instruments, which are included in a regulated market registered (licensed) in a European Union Member State or a European Economic area State at least two years prior to the taking of a decision to increase the equity capital, a certification that no significant circumstances have arisen which affect the value of the property investment;
• 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;
• 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: 14 days from the decision.