Considerations for Company Formation in Latvia
Latvia offers numerous major advantages in terms of cost reduction for any Western European country.
Most of Western and Central European countries have higher level of tax rate, employment costs and bureaucracy than in Latvia; therefore it is worth to consider delocalising a structure(s) of a company or to create a subsidiary in Latvia.
Our clients to which we have established their grounds in Latvia have continued to sell their services and maintained their partner’s network in their home jurisdiction as before but with reduced costs and more effective possibilities to trade with Eastern and Scandinavian markets.
What structure of the company to delocalise? (Based on workforce qualification indicators and previous experience)
- IT department;
- Marketing/web marketing;
- Sales (working with Russian & English speaking markets);
- Logistics (best in case of market development to East and Scandinavia);
- Production (chemistry, pharmacy, textile, construction…)
If you want to expand your market reach to East and Scandinavia, we advise you form a subsidiary in Latvia.
The advantages of company formation in Latvia
- Reduced bureaucracy
- Ease of doing business
- Low corporate tax (15%), low income tax (23%) and other entities with to 0% tax reduction possibilities;
- Low workforce costs (average net salary 633 EUR).
Please contact us, to obtain more information about Latvia corporate structures and your possibilities for company formation in Latvia.