Business Setup Latvia

Latvia has recently joined the Euro area and it is a designated Schengen country. Because of its moderate size not many people in the emerging market economies know its potential as a gateway into the European Union.
We have set up business in Riga and developed our presence in Latvia, we have followed the progress of the country very closely. Latvia is a very favourable jurisdiction for foreign direct investment, has the most favourable tax environment in Europe and represents the natural gateway of goods between Europe and Russia given its railway link matching Russian standards.

Latvian corporate tax stands at a flat 15% and its simplified tax code makes it very easy to maintain a business presence with minimal to no administration costs. Please note that Latvia has established a free zone as well that enables companies that focus on re-export to/from Russia and Scandinavia to do business without being levied local taxes.

Latvia has largest ice free ports in the entire Northern Europe and Baltic Sea, and only 2 hours flight away from all European capitals.
Furthermore investors can find plenty of local talent to rely on in all economic sectors. In fact, Latvia has one of the highest university enrolment rates in the world and any typical Latvian citizen speaks routinely three languages: Latvian, English and Russian.
Latvian citizen have also shown over the years one of the highest productivity rates in the EU in many sectors, especially the high value added ones.
Latvia fosters a very developed banking system, the largest pharmaceutical company in the Baltic and has several homegrown high tech companies producing components for Kenwood, Panasonic, NASA and more. It has the 4th fastest broadband connection in the world to support the high tech industry development.

Last but not least, Latvia presents all that is needed to enjoy an excellent quality of life. It is one of the greenest countries in the world, features one of the best opera houses in Riga for the music lovers, and Riga (the capital) offers a wide array of entertainment and nightlife in the best historical surroundings ever.

Affinitas sets up businesses in all Latvian cities with a bias towards Riga, the capital of the country and headquarters of most of the large companies.
Affinitas business set up in Riga or Ventspils can be performed using all pertinent legal structured allowed under the Latvian law.

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Read more about Latvia Economy.

Please inquire with our expert staff to outline your needs and get a free advice on how to best set up your business.

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Business setup latvia

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