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.