How to Start a Business in Latvia as a Non-EU Citizen in 2025

Thinking of launching your business in Europe?

Latvia is one of the easiest and most cost-effective entry points to the EU market — and here’s why:

• 0% corporate tax on reinvested profits
• Full EU market access
• Digital-first government — remote-friendly and efficient

Here is you step-by-step guide how to start a company in Latvia:

Choose company type

• Most founders opt for SIA (Limited Liability Company)
• Share capital: €2,800 or just €1 (micro SIA)

Prepare documents

• Passport, articles of association, Latvian address
• Power of attorney if registering remotely

Register your company

• Submit documents to Latvia’s Register of Enterprises
• Get your company ID and tax number

Open a bank or fintech account

• Choose from local banks or services like Wise, Payoneer, etc.

Register for taxes

• Corporate tax registration
• VAT if turnover exceeds €40,000

Want to Live in Latvia Too?

Yes, it’s possible! You will have to qualify for business residence permit and get a startup visa (ideal for tech entrepreneurs). These options allow you to live and work in Latvia and move freely within the EU.

Common Challenges for Non-EU Founders:

• Not physically in Latvia? → Use a power of attorney
• Bank rejection? → Go fintech + get legal address support
• Complex paperwork? → Let Oceans Baltics handle it all

Why Oceans Baltics is your best choice? We help non-EU founders:

• Register Latvian companies remotely
• Manage tax, accounting, and payroll
• Set up virtual offices
• Apply for residence permits