Chinese get residence permit by investing in Cesis, Latvia

Chinese got Temporary residence permits (TRP) to Latvia by investing in real estate

Cesis is small town, but it was advertised in China television and possible that it was reason why interest of chinese investors grow up about Latvia.
Some of new Latvian TRP obtainers already showed interest to put in order real estates which they bought - it shows that these people are not interested just to get residence permit to travel via Schengen, but it shows that people like Latvia and they really wish to stay here.

There are more than 150 millions invested in Latvia real estate sector since july 2010.

You can get more information about immigration and residence permits in our webpage.

Short stay visa in The Schengen

The Schengen short-stay visa

The Schengen visa is a short-stay visa which is issued by all countries in the Schengen area.

Possibilities allowed to do with Schengen visa 

With a Schengen visa one can travel to any or all of the 26 Schengen area countries for the period of validity of one's visa, but maximum period is three months within a six-month period. It is not necessary to obtain an individual visa for each country, and one do not have to show one's passport when crossing borders between countries within the Schengen area. Only at the Schengen area's external borders - the borders with non-Schengen area countries - all travel documents are carefully checked.

Other conditions of entry into the Schengen area are

- You must be able to explain why you want to enter the Schengen area and to prove the conditions of your stay. You must also be able to show that you have sufficient financial means for the duration of the stay and for your return;
- You must not be considered to be a threat to public policy, internal security, public health or the international relations of any of the Schengen area countries;
- You must not have an alert issued in the Schengen Information System* for the purposes of refusing entry.

If you hold a residence permit or a long-stay visa issued by a Schengen area country, you will have the same freedom of travel as a Schengen short-stay visa holder.
If you have a Schengen visa and you wish to visit any of the five EU countries which are outside the Schengen area (Bulgaria, Romania, Cyprus, Ireland, the United Kingdom), you will need to apply for a separate national visa for each country. These 5 countries have different rules on immigration.

* An information system for the EU and the EU countries that enables the relevant authorities to have access to notifications on persons and property via an automated search procedure. It is mainly used for the purposes of border checks and other police and customs checks. In some cases, it is also used for issuing visas, residence permits and for the administration of legislation in the context of the Schengen Convention.
More information you can read in section on Immigration.

Immigration to Latvia for European Union (EU) citizens

Immigration to Latvia for European Union (EU) citizens

European Union (EU) citizens have the right to stay in Latvia with a valid travel document (passport or ID card) for the period of up to 3 months within half a year counting from the first day of entrance. If the person (EU citizen) wishes to stay in Latvia for longer time, then one must apply for the temporary residence permit (TRP).

EU citizen who has resided in Latvia permanently for 5 years on the basis of temporary residence can obtain the right of permanent residence.

 Temporary residence permit to Latvia

 In order to obtain the temporary residence permit in Latvia the following documents will be required:
- the copy of the persons passport;
- person marriage dates, information about spouse, parents, children, brothers, sisters, languages knowledge, education, serving in military services, residence in countries abroad indicated in official Application form;
- information about the person's possible place of residence in Latvia;
- document confirming ones reason to stay in Latvia (for example, labor agreement for employee)

The person must have income at least 200 LVL (approx. 285 EUR) per month.

State fees:
Per registration of the address 3 LVL (~5 EUR)
Documents must be submitted personally in Latvia, in Immigration department.
More information you can get in section on immigration.

Immigration to EU, Canada, USA and Australia

If you have EU citizenship or visa (with work permit) it brings you full freedom for traveling, work, studies and doing all what you wish in EU countries.

With EU citizenship you will be able to enter not only in all Schengen countries, but also to Canada without visa, but to Australia and USA you will need just pre-travel internet registration and visa will be issued on arrival.

More about visas you can find in section About visas.

Is visa necessary?

Traveling document visa


If one is a citizen of a country outside the European Union (EU), it may be necessary visa to travel to any EU country for different purposes, including business, work or holiday.

A visa is a sticker in your travel document which is given to you by an EU country and which allows you to enter and remain in that country for a certain period of time. It may also give you the right to travel to other EU countries.

Concerning the length of validity, there are two types of visa: short-stay visa and long-stay visa.

For details on the visa requirements in Latvia please read more in section: immigration into Latvia.

Standard & Poor’s has increased Latvia’s credit rating by one unit

Latvia has been given a positive outlook. The value of short-term obligations in national and foreign currency has been increased from BBB-/A-3 to BBB/A-2. The value of the free money flow and conversion is now increased from A- to A.

This is a very important evaluation of the Latvian economy and an important signal for foreign investors.

Latvia’s macroeconomic and fiscal indexes also are much better than expected. According to the Finance Ministry, Standard & Poor’s explains its decision by saying that Latvia’s political situation has become much better; the government has introduced fiscal discipline by reducing the budget deficit from 8.2% of GDP in 2010 to 1.6% of GDP in 2012.

The agency’s announcement states that Latvia’s economy is one of the most flexible and dependable in the EU. The decision to increase the country’s credit rating was made thanks to a swift recovery of Latvia’s economy after the social-economic crisis.

Standard & Poor’s also predicts that Latvia’s state debt will reduce in the future; fiscal indexes will improve, and the country’s economic growth will be less dependent on the financing of the external debt. 

If any investor has decided to set up business in Latvia here can find more information about company formation.

Investments in Latvia

One of the most important reasons why to invest in Latvia is accessibility to large markets.

Latvia has a unique geographical, providing a strategic location for business operations targeting developed economies of the EU and emerging markets of eastern neighbors. Latvia is a natural gateway between the US, EU and Asia (especially Russia/CIS). Advantages enabling successful trade include:

Advanced transport infrastructure: Located on the Baltic Sea, Latvia has three major, ice-free international ports—Riga, Liepaja and Ventspils—that are closely linked into the country’s land-based infrastructure, including an extensive rail, road and pipeline system. The largest airport in the Baltics is Riga International Airport—with over 70 international direct destinations, it serves almost two-thirds of all flights in the region.

Free trade: Latvia’s external trade and customs policy is based on free trade principles. Latvia is an EU country, a member of Schengen and an active participant of the World Trade Organization, enjoying all the benefits of free and open trade in the world’s markets. Customs and border procedures have been made for effective planning and coordination with trade partners around the world.

Export experience and support: Domestic companies continue to develop their exports, creating an environment of knowledge and ability that enable firms to grow their businesses in Latvia and abroad. Latvia’s history has prepared its workforce with knowledge of business and cultural norms that enable partnership with Western European countries, and particularly with Russia and other CIS countries. LIAA provides a host of services for assisting locally-registered companies to find and cultivate new markets.

In case if businessman is non european citizen, then there can be necessary visa, business visa as traveling documents to Latvia. You can get more information about immigration in section Scheme of immigration.

* The government, the Latvian Investment and Development Agency (LIDA), and the Ministry of Economics propose various changes in legislation, including financing foreign visits, to promote the involvement of foreign investors in Latvia. Since 1999, Latvia is a member of the WTO, but in 2004 it joined the EU and NATO. Latvia has concluded bilateral investment promotion and protection agreements with all of its most important partners.

* The business environment is favorable for foreign investments and entrepreneurship: our laws are in line with the legislation of the EU; besides import duties and taxes, there are no additional limitations for the free movement of capital and goods. In transactions with the EU countries, there are no such restrictions at all.

* The government has prepared a draft investment promotion strategy, in accordance with which Latvia’s main goal is to attract investment in export-oriented manufacturing and services sectors. The strategy identifies target sectors for attracting investment – the forestry and wood industries, metalworking and machine-building, transport and logistics, information technology, life sciences, health care and green technologies.

If you are interested to start business in Latvia then you must visit section on company formation. Sometimes there can be necessity to start business as soon as possible, in such case there is possibility to buy ready made company.

VAT registration

General information about VAT registration

Persons from the Republic of Latvia are registered in the Register of VAT Taxable persons by the following conditions:

- natural persons according to the declared place of residence;
- legal persons according to the legal address.

In order to register in the SRS Register of VAT Taxable Persons, the person has to submit to the respective   SRS local office the registration form  "Registration Application in Register of VAT Taxable Persons".

All clients are registered as VAT payers accoridng to Law on Value Added Tax. When submitting the registration application, one must either a personal identification document or a driver’s licence. If the registration application is signed and submitted by an authorized person, this person should also submit the Power of attorney. A person is registered in the SRS Register of VAT Taxable Persons within 15 working days from the day of the submission of the application.

A person is considered registered in SRS Register of VAT Taxable Persons as of the day when the registration certificate of a VAT taxable person has been issued to them.

In case the person cannot be contacted at the declared legal address or at the declared permanent place of residence, or if the person does not submit information on a SRS request, or the information provided about the material and technical capacity and financial scope to undertake the declared economic activities of the applicant are false, the SRS takes a decision to reject the registration application. When a person receives a rejection of the registration application, the person has the right to add more precise information in the application and to submit it to the SRS again.

In case any person from a EU member state or a person not registered in the territory of the EU undertakes one or more VAT transactions in Latvia, then the SRS registers in SRS Register of VAT Taxable Persons one of the following persons:

- any person from an EU member state or a person not registered in the territory of the EU - at one of the places where the respective transaction has taken place in the Republic of Latvia;
- their authorized person in the Republic of Latvia - according to the legal address or the declared place of residence of the respective person.

To be registered in the SRS Register of VAT Taxable Persons, the person has to submit the registration application "Registration Application in Register of VAT Taxable Persons from EU member state and for persons not registered in the territory of the EU".

When submitting the registration application, one must present either a personal identification document or a driver’s licence. In case the application is submitted by an authorized person, then the authorization also has to be presented.

A person is considered registered in the SRS Register of VAT Taxable Persons within 15 working days from the day of the submission of the application.

A person is considered registered in the SRS Register of VAT Taxable Persons as of the day when they have been issued a registration certificate of a VAT taxable person.

If the person from EU member state or a person not registered in the territory of the EU has not entered all the requested information into the registration application, SRS takes a decision about the rejection of the registration. When a person receives a rejection of the registration, the person has the right to add more precise information in the application and to submit it to the SRS repeatedly. More information you can get in  section Taxes in Latvia.

General terms:

1. Persons registered in the Republic of Latvia, should personally submit the registration application to the respective SRS local office by presenting the personal identification documents or driver’s license. If the registration application is signed and submitted by an authorized person, this person should also submit the corresponding authorization.

Person from an EU member state or person not registered in the territory of the EU submitting the registration application should present a document confirming the identity of the person or a driver’s license. If the registration application is signed and submitted by authorized person, this person should also submit the corresponding authorization;

2. After registration in the SRS Register of VAT Taxable Persons, the registered person regardless it is registered in Latvia, in EU or it is not registered in the territory of the EU, according to Chapter 1 of Article 11 of the law ‘On Value Added Tax’ have the obligation to submit to SRS a tax declaration with tax calculations for the taxation period within 15 working days after the end of the taxation period;

3. Chapter 3 of Article 11 of the law "On Value Added Tax" foresees that tax declarations should be submitted also in cases, when the taxable person in taxation period hasn’t performed taxable transactions. In accordance with the provisions of Chapter 1 of the Article 9 of the law "On Value Added Tax" the taxation period is one calendar month;

4. If the taxable person during one month after the date, when the tax declaration should have been submitted as established in the law, doesn’t submit the declaration or provide false information, or after sending written request by tax administration, hasn’t submitted documents of audit tax calculations or the taxable person is not available at its legal address or the declared place of residence or the address doesn’t exist, according to Chapter 81 of Article 3 of the law "On Value Added Tax" in the order, established by the Cabinet of Ministers, the person could be excluded from the Register of VAT Taxed Persons.
More information you get in section: Accounting services.

Micro-company tax

Micro-company tax

Micro-company Tax - on 9 August 2010 Saeima of the Republic of Latvia has been accepted "Law on micro-company tax." The new tax took effect from 01 September 2010.

Company formation and registration as a new business at the same time have the opportunity to apply for the micro-company tax payer.

An undertaking to this tax purposes would be considered as micro-company must meet the following criteria:

- Company members must be individuals who have the company's board;

- Turnover during the year can not exceed 70 000 lats;

- Number of employees at the same time is not more than 5 employees.

The micro-companies are considered to be both a sole proprietorship and farms, and limited liability companies (LLC). In case if a company deploys a successful year and its turnover exceeds the amount of 70 000 LVL, there is an additional 20% tax rate part that has exceeded the maximum. For example, if the company's turnover was 80 000 Ls, the excess part of the example is 10 000 is suitable for the 20% tax rate.

A company that wants to be micro-company taxpayer may employ up to 5 employees, each of which can cost up to 500 LVL / month large salary for paying any additional taxes and / or social contributions. In the event an employee's salary is higher than 500 LVL / month applies to an extra 20% tax rate on the wage share, which is over 500 LVL. For example, if the salary is 700 LVL, then an additional 20% rate is applied to LVL 200 or the amount of the excess over the maximum salary. If a situation arises where a micro-business while employing more than 5 persons, the turnover tax is further increased by another 2%. For example, if the company employs 6 people, then mikoruzņēmuma tax will be 11% (9% + 2%). Micro-company tax payment companies should do on a quarterly basis following the previous quarter's sales.

More information can be found in Accounting services.

Scheme of Immigration to Latvia

Immigration services » Scheme of immigration to Latvia

1.      Collection of all necessary information about Latvia, about emigration to Latvia and then taking decision about emigration.

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2.      Signing a contract with visas.lv about registering a company in Latvia and providing us with documents we need for starting the process of registration Latvian company and immigration to Latvia. Client must provide:

–        Passport for traveling abroad;

–        Home address written in English;

–        Police clearance certificate proving that a client hasn’t committed any crime in his native country;

–        Preferable name for future company;

–        Division of shares in case if it is provided two or more share holders to company.

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3.      Advance payment 50% of the contract.  Then visas.lv prepares powers of attorney that Client has to sign in Latvian consulate in presence of notary and with their help we start the procedure of registration your company according to Commercial law of Latvia. Some documents must be legalized. For more information see: Legalization of documents.

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4.      After we get documents in one week your Latvian company will be registered and you will get proof that you are its 100% owner board member.

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5.      We prepare pack of documents need for residence permit (including proof of accommodation, company’s registration certificate, and translated necessary documents);

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6.      Scanned copies of all certificates are sent to a client and Client pays remaining 50% of our fees according to contract.

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7.      Originals of all needed documents are sent by currier (DHL or TNT) to a client.

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8. Client applies in Latvian consulate (Latvian embassy) for multiple residence permit with purpose of running business. Residence permit gives right to travel in all Schengen countries (note: UK and Ireland are not part of Schengen).

 

www.visas.lv

Residence Permit

  Immigration services » Residence permit

A residence permit – it is a document which provides to a foreigner the rights to reside in the Republic of Latvia for a period time exceeding 90 days within half a year starting from the first day of entrance.

  There are two types of residence permits:

 1. Temporary residence permit – it is residence permit for fixed period of time;

 2. Permanent residence permit – it is residence permit to stay permanently.



 Foreigner must have a valid health insurance policy before one receipt temporary residence permit.

A residence permit may be issued to a foreigner as a citizen of a third country:

1) Due to the family unification:

As a spouse of a citizen, a non-citizen of the Republic of Latvia or a foreigner who has received a permanent residence permit:
At the first submission of documents – a temporary residence permit for one year;
The second submission of documents – a temporary residence permit for four years;
At the third submission of documents – a permanent residence permit;
!!! Minor children or children under maintenance of a foreigner can also receive a residence permit for the above mentioned terms.

As a minor child of a citizen, a non-citizen of the Republic of Latvia and a foreigner holding a permanent residence permit:
a permanent residence permit;
Up to the third step relative vertically or the second step relative horizontally or a brother/sister-in-law up to the second step to a citizen or a non-citizen of Latvia or to a foreigner holding a permanent residence permit:
once in a calendar year for a period of time not exceeding six months;
As parents or spouses of a citizen of Latvia, a non-citizen of Latvia who have reached the retirement age (62 years) set in the Republic of Latvia:
At the first submission of documents – a temporary residence permit for one year;
At the second submission of documents – a temporary residence permit for four years;
At the third submission of documents – a permanent residence permit;
As a child of age, a spouse or minor children of a citizen of Latvia:
At the first submission of documents – a temporary residence permit for one year;
At the second submission of documents – a temporary residence permit for four years;
At the third submission of documents – a permanent residence permit;
2) Due to a labour agreement:
- For the period of employment however not exceeding five years;

3) As an individual merchant registered in the Commercial Register:
- For the period of employment not exceeding five years;

4) As a member of a partnership with rights to represent a partnership, member of the board or the council, managing clerk, executive, liquidator or a person authorized to represent a merchant (a foreign merchant) in activities related to the branch office:
- For the period of office term however not exceeding five years;

5) As a self-employed person:
- For a period of time not exceeding one year;

6) As a representative of a foreign merchant:
- For a period of time not exceeding four years;

7) Due to scientific collaboration:
- For the period of time stipulated in the scientific cooperation plan however not exceeding five years;

8) Due to the implementation of an international treaty or a project where the Republic of Latvia is a partner:
- For the period of time necessary for the implementation of the agreement or the project;

9) Due to providing assistance to public or municipal institutions of the Republic of Latvia:
- For the period of time necessary for providing assistance however not exceeding one year;

10) Due to treatment in inpatient medical establishment:
- for the period of time indicated in the treatment contract;

11) Due to religious activities:
- For the period of time required for religious activities however not exceeding one year;

12) Due to joining a monastery registered at the Religious Matters Department:
- For the period of time not exceeding three years;

13) Due to studies at an accredited educational establishment:
- For the time period of studies however not longer than one year;

14) Due to studies practice, student exchange or traineeship:
- For the period of time stipulated in the cooperation agreement however not exceeding one year;

15) If a marriage is annulled and if in the marriage there is a child, who is Latvian citizen or a non-citizen of Latvia:
- For period of time till the date a court decree of a divorce and a judgment of a settlement of a residence place of a child coming into force, however not longer than one year;

16) If pre-trial investigation institutions or the court require the foreigner stays in the Republic of Latvia till the investigation of the criminal case will be completed or till its litigation at the court:
- For period of time not exceeding one year;

17) Due to acquiring citizenship of another state, if the foreigner resides in the Republic of Latvia and has been a citizen of Latvia or a non-citizen of Latvia prior to the acquisition of the citizenship of the other state:
- A permanent residence permit;

18) If a secondary education certificate is received in the Republic of Latvia by completing a programme of the secondary education thereto by studying in the official language:
- A permanent residence permit;

19) If a foreigner was a citizen of the Republic of Latvia on 17 June 1940 or if one of his or her parents is a citizen of the Republic of Latvia:
- At the first submission of documents – a temporary residence permit for one year;
- At the third submission of documents – a temporary residence permit for four years;
- At the third submission of documents – a permanent residence permit;

20) If a foreigner has been continuously residing in the Republic of Latvia with a temporary residence permit at least for 5 years (this provision does not apply to a foreigner who has received a temporary residence permit for the period of studies):
- A permanent residence permit.

!!! A citizen of the European Union is eligible to receive a registration certificate, if he or she:
1. Is employed as an employee in the Republic of Latvia;
2. Is a self-employed person in the Republic of Latvia;
3. Is a service provider or an employee with a merchant registered in a Member State of the European Union or the European Economic Zone, or the Switzerland Confederation, who is a service provider in the Republic of Latvia according to an agreement;
4. Acquires education at an educational establishment accredited in the Republic of Latvia and has sufficient financial means in order not to encumber the social assistance system, and a valid health insurance card in Europe, a statement issued by a Member State of the European Union or the European Economic Zone certifying that the individual is eligible to receive, in the Republic of Latvia, medical assistance to extent guaranteed by the state, or a health insurance policy. For the present regulation, sufficient financial means is monthly income exceeding 50% of a minimum wage valid in a relevant period;
5. Has sufficient financial means in order not to encumber the social assistance system, and a valid health insurance card in Europe, a statement issued by a Member State of the European Union or the European Economic Zone certifying that the individual is eligible to receive, in the Republic of Latvia, medical assistance to extent guaranteed by the state, or a valid health insurance policy;
6. Is a spouse of a citizen of Latvia, a non-citizen of Latvia or a foreigner holding a permanent residence permit in the Republic of Latvia and has sufficient financial means in order not to encumber the social assistance system, and a valid health insurance card in Europe, a statement issued by a Member State of the European Union or the European Economic Zone certifying that the individual is eligible to receive, in the Republic of Latvia, medical assistance to extent guaranteed by the state, or a valid health insurance policy;
7. Trusteeship or guardianship status has been established for him or her in the Republic of Latvia.

!!! A citizen of the European Union is eligible to receive a permanent residence permit, if he or she:
1. Has continuously resided in the territory of the Republic of Latvia for five years, in accordance with the conditions stated in Article 20 of Cabinet of Ministers Regulation No. 586 of 18.07.2006;
2. Before acquiring citizenship in a Member State of the European Union or the European Economic Zone, or the Switzerland Confederation, has been a citizen of Latvia or a non-citizen of Latvia and has submitted documents for requesting a permanent residence certificate within 30 days from a making a decision on revocation of the status of a citizen of Latvia or a non-citizen of Latvia;
3. Is a minor child of a citizen of Latvia or a non-citizen of Latvia, or a foreigner holding a permanent residence permit.

!!! A citizen of the European Union, who has resided in the territory of the Republic of Latvia as an employee or a self-employed person for a period less than five subsequent years, for five years, is eligible to receive a permanent residence permit, if he or she:
1. At the moment of completion of his or her professional activity, has reached the pension age determined in regulations of the Republic of Latvia or terminates paid employment for early retirement, if he or she has worked in the Republic of Latvia at least for the previous 12 months and has continuously resided in the Republic of Latvia for more than three years. Continuous residing in the Republic of Latvia includes a period of employment in another Member State of the Republic of Latvia, the European Economic Zone, or the Switzerland Confederation;
2. Has continuously resided in the Republic of Latvia for more than two years and has terminated work in the Republic of Latvia due to permanent disability. In case, if such disability was caused by an accident at work or occupational disease, for which the individual is eligible to a benefit in the Republic of Latvia, the provision of period of residing is not applicable. Continuous residing in the Republic of Latvia includes a period of employment in another Member State of the Republic of Latvia, the European Economic Zone, or the Switzerland Confederation;
3. After three years long continuous employment relations and residing in the Republic of Latvia, is an employee or a self-employed person in another Member State of the Republic of Latvia, the European Economic Zone, or the Switzerland Confederation, by retaining his or her place of residence in the Republic of Latvia and by returning to it daily or at least weekly.

!!! A family member of a citizen of the European Union is entitled to reside permanently in the Republic of Latvia after continuous legal residing in the Republic of Latvia for five years.

!!! A family member of a citizen of the European Union, who is not a citizen of the European Union, is eligible to receive a residence permit:
1. For five years or shorter period, if envisaged period of stay of the citizen of the European Union is less than five years;
2. For 10 years, if the family member of the citizen of the European Union has been granted the right to reside permanently in the Republic of Latvia.

More information about residence permits: http://www.pmlp.gov.lv/en/pakalpojumi/uzturesanas.html


www.visas.lv

Immigration to Latvia

Why do you need immigration layer to Latvia (European Union)?

Immigration lawyer can help you in following:

» Analyze the facts of your immigration European Union (EU) case;

» Find the best way for you to immigrate to European Union (EU);

» Explain all the benefits of your immigration to European Union (EU);

» Explain immigration law and other regulations which can affect you;

» Avoid delays and problems of your immigration case;

» Avail the system to your advantage because immigration layer has such experience.

Find your immigration lawyer here: www.visas.lv

Company Formation

  Latvian company formation                     

   One of our main services is formation (establishing) companies in republic of Latvia in State Register of enterprises. Our employees according to your needs are ready to give you all necessary information and consultations about establishing Latvian company and necessary documents, as well as drawing up all required documents for registering of Latvian company.

 There are several company types in Latvia – Limited Liability Company, Joint Stock Company, individual businessman, limited partnership etc. Here you can find main necessary information about formation of most popular company type in Latvia– Limited Liability Company as well as our offered services related with changes in foundation documents of company.

 Requirements:

     - Minimum share capital – LVL 2000 (€3090), at least half to be paid up;

     - Minimum directors: one required;

     - No restrictions on foreign shareholders or directors;

     - Registered office address (Legal address);

     - A visit to Latvia is necessary to open a bank account, to sign documents and to discuss accounting requirements or there is also possibility to register company without visiting Latvia by making power of attorney to register company and open bank account and filling some necessary documents

Please feel free to contact us for additional information about these or alternative arrangements and possibilities.

 Benefits of limited liability company (LLC or SIA) in Latvia:

-          company is legal entity;

-          all company liabilities are limited with the share capital;

-          simply procedure of registration of company;

-          it is not necessary to visit Latvia for registering of limited liability company in Latvian state register of enterprises;

-          owner of limited liability company can be any person (legal entity and physical person) and also offshore company;

-          simply managing (can managed by one person);

-          there is not necessary for local (resident) director of company;

-          Corporate income tax of Limited Liability Company is 15%.

 Required information for registering LLC

-          company name (there can used letters of Latvian or Latin alphabet, must be different from name of already registered company);

-          legal address of LLC (legal address must be located in Republic of Latvia, we offer service of legal address);

-          information about founders of company;

-          information about board of members;

-    information about share capital;

 

 

www.visas.lv

Immigration services

Immigration to Latvia (European Union & Schengen)

 Visas.lv is a Latvian company providing a wide range of services relating also to emigration and integration into European market.

 

 We guarantee a high quality of service provision. Our company makes it possible for you to obtain a multi-entry visa and get legalized in the country, start a company which operates in a way which corresponds to your profile, open a bank account, purchase real estate in Latvia and establish contacts with business partners in all countries in the European Union.

 

 We will prepare tax documents and register your company with the governmental institutions. We will work together with you to develop and implement a plan which will enable you to achieve the relevant status.

 

 

 Here you can get all necessary information our services related to immigration to Latvia.

 » About Latvia

 » Latvia in European Union, Schengen

 » Latvia in Baltic states

 » Advantages of immigration to Latvia

 » Scheme of immigration to Latvia

 » Information about Visa

 » Short term Visa

 » Long term Visa

 » Invitation

 » Work permit

 » Residence permit

 » Study in Europe - Latvia

 » Legalization of documents

 

www.visas.lv

 Accounting services

   Company Visas.lv offers accounting services and accounting consultations concerning with accountancy of tax and personnel. We realize full financial analysis of accountancy and timely notification to manager about any risk

which endanger successful development of business. Company Visas.lv also manages making accounting reports, all necessary accounting documents and delivering them to State revenue service, Central Statistical Bureau and

other institutions of the Republic of Latvia.

  If you choose accounting services in Company Visas.lv we take consequences for accuracy and punctuality of accounting services in your Company and in accordance with all regulations of accounting. Delegating accounting

services to us you will save up on personnel, taxes as well as on working place and qualification courses in accounting for employee, without which professional accounting is impossible.

   

    Accounting services we offer include:

 - Accountancy in accordance with the legislation of the Republic of Latvia;

 - Analysis of the primary documentation;

 - Drawing up of all necessary reports (declaration) and submitting them to the territorial office of the State revenue service;

 - Representation in State revenue service;

 - Drawing up bookkeeping organization documents;

 - Verification of payments with dealing partners;

 - Calculation of the salary;

 - Working with source documents, entering them into registers;

 - Consultations on questions about accounting;

 - Drawing up of all internal documents according to legislation;

 - Tax optimization.

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Legalization of Documents

      Immigration services » Legalization of documents

 Certification of document authenticity or legalization means verification of signature and seal of a document, it means that Consular Officer certifies signature and seal of document made in one country and then document becomes effective in another one. Legalization implies confirmation of the legal status and authority of the signatory.

 Certification of document authenticity or legalization is not notarial act.

   If document is issued abroad and must be in force in Republic of Latvia

 1. If the document is made in a country which is joined to the Hague Convention of Abolishing the Requirement of Legalization for Foreign Public Documents of 1961 (hereinafter Hague Convention-1961), authenticity of that document must be certified with an Apostille by the competent institution of the respective state abroad according to regulations of the Convention. There is no necessity for confirmation by another Latvian diplomatic/consular mission if document is certified with an Apostille.

 2. If the document is issued in a country which is not joined to Hague Convention-1961, that document must be legalized by Latvian diplomatic/consular mission in the respective country, or document must be legalized by the diplomatic/consular mission of the respective country in Latvia or the nearest neighbour country, and then by Latvian Ministry of Foreign Affairs Consular Department.

   If a document issued in Latvia and it must be in force outside Republic of Latvia

 1. If the document is provided for using abroad and must be in force in a country which is joined to Hague Convention-1961, authenticity of that document must be certified by the Consular Department of Republic of Latvia with an Apostille. There is no necessity for confirmation by another diplomatic/consular mission of the respective foreign country.

 2. If the document is provided for using abroad and must be in force in a country which is not joined Hague Convention-1961, authenticity of that document must be legalized by Latvian Consular Department and/or diplomatic/consular mission in the respective country, and then by a diplomatic/consular mission of the respective country.

   Certification of document authenticity is not necessary

 Regarding to countries that have concluded bilateral and multilateral agreements on legal assistance and legal relations in civil, family and criminal matters with Latvia, documents that are made or certified by a court or an official within its competence, and adhering to the established form, and are marked with the official seal in the territory of one contracting party, are accepted in the territory of the other party without any further certification. Documents considered as public in the territory of one contracting party are also considered as public in the territory of the other contracting party.

 Latvia has concluded treaties on legal assistance and legal relations in civil, family and criminal affairs with such countries:

 Belarus, Estonia, Kyrgyzstan, Lithuania, Russia, Moldova, Poland, Ukraine, Uzbekistan

 Documents are legalized after confirmation of respective institution of Republic of Latvia in which there are shown surname and position of official. Signature, print of stamp and seal must be clearly seen. If there is more than one page in document they must be stringed through.

 If it is necessary to legalize copy of document, it must be confirmed by notary. If there are more pages in document, those must be stringed through and stamped together. Copy of document can be without confirmation of notary if this copy is issued in institution which have issued also original.

 If it is necessary to legalize translation of document it must be confirmed by notary. If there are more pages in document, those must be stringed through and stamped together.

 Legalizing of copy of documents, extract and / or public confirmation of translation is made if only it is possible to confirm also authenticity of original document.

 Before submitting documents for legalizing we advise you to clarify in respective consulate what documents you have to legalize:

-          only original of document / copy of document which is confirmed by notary;

-          only translation of document;

-          both original document / and copy of document which is confirmed by notary, and translation of document.

 It is not possible to legalize documents if there are not sample of signature of official which sign the document and print of stamp of competent authority in Consular department of Ministry of Foreign affairs of Republic of Latvia.

 

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Advantages of Immigration to Latvia

Immigration services » Advantages of immigration to Latvia

Advantages of immigration to Latvia

 In this article we want to show you why Republic of Latvia is one of the best counties in Europe for immigration process.

 

  Immigration laws of European Union are getting same for all its members (The 25 Schengen countries are: Austria, Belgium, Czech, Denmark, Estonia, Finland, France, Germany,  Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. With Latvian residence permit you can live and work in any of these countries- members of European Union). Each country have its own specific character of immigration laws but its main features that allow its citizens and holders of residence permit to live and work legally in Europe are maintained in all European countries. United Kingdom and Ireland are not included in Schengen zone.

 

  There is a certain period after which a person can get permanent residence permit in all European countries after official immigration. This period may not exceed 5 years after official immigration of foreign citizen.

 

  We think that Latvia is one of the most attractive countries from the immigration point of view and simplicity of preparing documents needed for immigration. If you want to live and work abroad, Latvia is the best for you: Immigration to Latvia is really simple – you don’t need to satisfy strict age requirements, have higher education, know Latvian language or wait for several years without knowing result.

 

  If we talk about simplicity of immigration process you should understand that it is a bit simpler to get residence permit and to satisfy all immigration laws in Latvia in comparison with other countries, but anyway it is not an easy thing to do.

 

 Advantages of immigration to Republic of Latvia in comparison with other European countries:

 1. Tax weight

Total tax weight in Latvia which forms from all the taxes including Social insurance tax is just 30,5% from GDP. It is one the lowest index via 27 EU countries. Average tax weight in Europe is 39,8% from GDP. The highest tax weight are in Denmark - 48,7%, Sweden - 48,3%, Belgium - 44%, France and Italy - 43,3% from GDP.

Value added tax (VAT)

Most of goods and services are taxed with 21% but there are exceptions and some specific goods and services are taxed with 10% VAT.

Personal income tax

Personal income tax is 23% from private incomes.

Corporate income tax

Corporate income tax to companies is 15%.

   2. Latvia is a member of European Union and part of Schengen zone

Latvia became a member of European Union in 2004 and from 21^st of December 2007 Latvia is part of Schengen zone. It means that after your immigration to Latvia you will get Schengen visa and can go to any European country (Schengen country) without additional visa. Article about Latvia in European Union, Schengen.

   3. Very highly developed bank infrastructure

There are more than 20 banks what operates in territory of Latvia. Mostly they are controlled by Sweden, Norway, Germany and Denmark. They make financial system of the country stable and allow keeping money on the accounts without being scared about it.

   4. Geographical position.

Latvia, officially Republic of Latvia is one of the three Baltic States in Northern Europe in the Baltic region. It is bordered to the north by the Baltic state Estonia, to the south by the Baltic state Lithuania, and to the east both by Belarus and the Russian Federation. Across the Baltic Sea to the west lies Sweden. Article about Latvia in Baltic States.

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