About Latvia

(image from Google maps)

     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.

    

    The Latvian government and local authorities have worked diligently to streamline procedures for doing business in Latvia, for instance, companies can be established just in one day. As a member of the EU, Latvia operates under Europe-wide legislation. To further stimulate investments, Latvian Government is implementing many state support programs via EU Structural funds for private business development.

    

    The most popular business entity is the limited liability company (LLC or in Latvian - SIA). Corporate tax rate is fixed at 15%, one of the lowest in the EU.

   

    A Latvian company is well positioned to be an effective EU intermediary for trade between Western and Eastern, “Russian- speaking” countries. Latvia is a multi-lingual society where Latvian, Russian and English languages are commonly spoken and professionals are adept at working with both Western and Eastern business cultures.

   

  Tax weight

 

    Total tax weight in Latvia which forms from all the taxes including Social insurance tax is 30,5% from GDP. It is one the lowest index via 27 EU countries. Average tax weight 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. More information about taxes in Latvia. 

   Latvia facts:

 Capital: Riga

 Official language: Latvian

 Population: 2.2 million

 Political system: Parliamentary democracy

 EU Membership: since 2004

 Official currency: Latvian Lats (Ls); (LVL)

 The Republic of Latvia, international abbreviation LV

 The Republic of Latvia is founded on November 18, 1918

 Location: Latvia is situated in Northern Europe, on the coast of the Baltic Sea.

 The Territory of Latvia: 64,589 square kilometers (24,938 square miles).

 National anthem: "Dievs, svētī Latviju!" (God Bless Latvia)

 International code: LV

 Constitution: democratic parliamentary republic

 The parliament, called the Saeima consists of 100 elected MPs.

 Official language: Latvian

 Total population:  2 224 230 (on year 2011)

 Capital city: Riga (with 723931 inhabitants)

 Administrative organization: 7 cities, 65 towns, 26 regions, 11 districts, 467 parishes

 Traditionally divided into 4 regions: Vidzeme, Latgale, Kurzeme and Zemgale

 Largest Latvia cities apart from Riga: Daugavpils, Jelgava, Jurmala, Liepaja, Rezekne, Ventspils

 Major ports in Latvia: Ventspils, Riga, Liepaja

 Ethnic composition: Latvians -59.0% (1348344) , Russians – 28.3% (646567), Byelorussians – 3.7% (85434), Ukrainians – 2.5% (57794), Poles- 2.4% (54831), Lithuanians – 1.4% (31034), Others – 2.1% ( uz 01.04.2007)
 

 Religion: Non-religious – 35%, Lutheran – 24%, Catholic – 18%, Orthodox – 15%, Others – 8%
 

 Currency: Lats (LVL), 1 lats = 100 santimi

 Time: GMT +2, from April to November GMT +3

 Internet domain: .lv

 International telephone code: +371

If You need immigration services or other legal services, please contact us

 Tel.             (371) 29 112 333      

 e-mail: visas@visas.lv