Due to the introduction of the euro in Latvia, each capital company must perform the denomination of equity capital (changes in equity capital for the transition to the euro). Companies that had not performed a denomination by 30 June 2016, applying to the commercial Register Office for any changes in the entries in the commercial Register or registration of documents (addition to the registration file), shall at the same time apply for changes in fixed capital for the transition to the euro.

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 of the meeting of stockholders (signatures to be certified);
• 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 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.

Changes in fixed capital to the euro may not be reported in the following cases:

• a capital company which has not denominated fixed capital shall apply for the termination of its activities and submit all applications in relation to liquidation. If it is decided to renew the activities of the capital company, an application for denomination will have to be submitted at the same time as this application;
• those companies which are the subject of insolvency proceedings;
• those companies which will be wound up without being wound up in reorganisation proceedings.