Discover Latvia as a great business opportunity. Latvia, one of the European Union member states, located at the heart of the NordicBaltic region, with its skilled and multilingual labour force, friendly taxation rates, various natural resources, and strategic location is a foundation for the country’s growing economy and makes Latvia the perfect place to develop or start your European Union business.
Latvia attracts investors with particular characteristics, quickly adapting to the constantly evolving economic and innovative solutions.
1. Latvia has developed infrastructure that services and companies need to meet European standards.
Latvia has three major, ice-free international ports in Riga, Liepaja and Ventspils, that are connected into the country's infrastructure via rail, road and pipeline. Latvia has three special economic zones (Liepaja, Latgale, Rezekne) and two free ports (Riga and Ventspils) that offer favourable conditions for foreign investments.
The main benefits for companies operating in Free Ports and SEZ are:
• Up to 80% rebate on real estate tax (1.5% in Latvia)
• 80% rebate on corporate income tax*
• 80% rebate on withholding tax for dividends, management fees and payments for the use of intellectual property for non-residents (rates for each type of withholding tax vary)
*Applies in case of withdrawal of dividends. Otherwise CIT in Latvia is 0%.
Please note that this example is of informative nature only. Exact tax calculations shall be calculated in each individual case by State Revenue Service.
Riga airport is the biggest airport in the Baltic region, flying to more than 80 destinations, providing a great opportunity for trade, business travel and infrastructure of the country, since the airport is located 15 minutes from Riga, the capital city and is connected directly to major roads.
Latvia is an ideal EU country, having a direct-access border with Russia. Baltic Highway connects Moscow with Riga, making it ideal to trade.
2. Enterpreneurship support.
Latvia provides special incentives for companies to help them establish their business, such as corporate tax allowance, organizational and administrative support, and grants for staff training and infrastructure development.
Regional business incubators are established, to raise the competitiveness of small and medium-sized enterprises and help them to succeed in Latvian and foreign markets.
If you are a non-EU startup founder, willing to start their startup in Latvia - Startup visa in EU is offered to you. One startup can have up to 5 founders with a startup visa in Latvia. The application process usually takes approximately one month. Startup visa is given for the period of maximum 3 years and it is spouse and children-friendly.
What is required is a startup idea in a short form, no interviews and business plan required. Later on, you can apply for EU residence permit in Latvia.
The establishment of Latvian EU company on your own takes 3-4 business days, no business plan required. You can establish your company remotely and start expanding your business in European Union now.
3. Business environment.
Latvia has one of the fastest Internet connections in the world, variety of coworking spaces, business training and workshops, that allows companies to connect with customers and partners abroad.
Latvian Internet connection in 2019 was ranked as 16th fastest internet speed in the world, that outperforms locations as France, Germany, Canada, Great Britain and various other countries.
This makes Latvia a perfect business country for digital nomads and remote workers.
The cheap accommodation and office rent prices, as well as green zones and parks around the capital city make it great to do your business in Latvia.
Latvia has highely skilled multilingual young workers, willing to engage in projects, promote company nationally and on international level.
4. European Union.
From 2004 Latvia is a proud member of the European Union, therefore having all the benefits of European Economic Zone and European legislation, to protect your rights and your company on European level.
If you are a non-EU national, you can apply for EU visa and EU residence permit for one of the cheapest programmes in the European Union, thus reside and travel freely in the EU.
EU LAW FIRM, one of the leading Latvia-based immigration & business law firm provides legal support for businesses, wishing to expand to Latvia. Our highely qualified lawyers with years of experience in commercial, immigration, business and maritime law can find the best legal solution for your business in Latvia.
To establish your company, get a visa, EU blue card or residence permit in Latvia and find an answer to your legal question, do not hesitate to contact our lawyers - info@eulawfirm.eu
You can also contact us via Whatsapp, Viber, Telegram +37126742086
