The second stage of reduction of fixed capital may be commenced when the time period for submission of creditors' claims has expired and the claims have been secured. The application may be submitted not earlier than one month from the day of publication of the notification on the information website of the Enterprise Register in https://info.ur.gov.lv and not later than 6 months after the decision to reduce fixed capital has been taken.

^{* 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;
• 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 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 he 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 after the expiry of the time period for the submission of creditors' claims and the claims have been secured, not later than after 6 months from the day when the decision to reduce the fixed capital has been taken.