How to Start a Business in Latvia as a Non-EU Citizen in 2026
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:
Last updated 2026, March 1
