Latvia international corporations

Limited liability company (LLC) - Sabiedríba ar ierobezotu atbildíbu (SIA)

Limited Liability Company is legal person which fixed capital consists of sum of nominal value parts of fixed capital and its shares are not traded publicly. LLC is considered to be established and has a status of a legal person starting from the day when it is registered in the Commercial Register. Application includes documents of incorporation (an incorporation agreement and articles of association). Document for establishment of management bodies are and appointment of an auditor must be included with application. There must be a certain amount of the equity capital is paid-up (minimum 2800 euro). The LLC's management bodies are shareholder meeting, board of directors and council (if established). LLC is responsible with property that it belongs for it its liabilities. Company shareholders are not responsible for liabilities of LLC. Company is not responsible for liabilities of shareholders. The owners of the shares of company can be legal or physical persons. Minimal number of shareholders is one. There are no restrictions for foreign individuals and legal entities to become shareholders of Latvian company.

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