The second phase of the reduction of the share capital may be initiated after the expiry of the period of application of creditors' claims and the claims have been secured. The application may be made not less than one month from the date of publication of the notification on the https://info.ur.gov.lv information website of the Enterprise Register and not later than 6 months after the adoption of the decision on the reduction of share capital.

Documents to be submitted:

• application form KR18;
• new version of the Statute (to be certified);
• text of amendments to the Statute;
• the last division of the shareholder register if the company has registered shares (the signatures must be certified);
• a third-country national (alien) who has a legal relationship with Latvia on the basis of which mutual rights and duties in the field of commercial activity and taxes are formed or have been established, but has not been granted the personal identity code of the Republic of Latvia, a questionnaire for the inclusion of information in the Register of Natural Persons (to be signed by the third-country national with a secure electronic signature in order to submit electronically;, this document shall not be submitted);
• if it is not possible to submit to the service portal, a receipt or a copy thereof, or a printout of an online bank payment, or information on the payment of the State fee, must be attached.

Deadline for the submission of documents to the Enterprise Register: 14 days after the expiry of the deadline for the application of creditors' claims and the claims have been secured, not later than 6 months from the date of the decision on the reduction of share capital.