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 entered the denomination by 30 June 2016, by applying to the Commercial Register Authority 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:

• Application Form KR18
• Minutes of the meeting of shareholders (to be certified)
• New version of the Statute (to be certified)
• Text of amendments to the Statute
• A receipt or a copy thereof, or a printout of an online bank payment, or information on the payment of the State fee

Time limit for the submission of documents in the Enterprise Register: 14 days from the adoption of the decision.

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 restore the activity of a capital company, an application for denomination will also have to be submitted at the same time as this application.
• undertakings for which insolvency proceedings have been initiated
• undertakings which will be dissolved without reorganisation proceedings