LLC share capital rules in Latvia

What is share capital?
Capital is money and other monetary value invested in a capital company for the commencement and continuation of the business.

Rules:

• The share capital and the nominal value of a unit are to be expressed in euros and no cents;
• The minimum share capital is 2800 EUR;
• The share capital is paid by the founders, it can be paid by cash or property;
• Up to the submission of the application, the share capital shall be paid at least 50%;
• The share capital is fully paid in the memorandum or within the term specified in the agreement, but not later than within a year from the date of registration in the commercial register;
• When making a monetary contribution, the founders open a bank account in the name of the company being established, arrange the payment of money into it and receive a certificate from the commercial register office of the bank or another document issued by the bank certifying the amount of the paid-up share capital;
• When making a financial contribution, an opinion on the property investment made by the founders should be provided if the total value of the investments does not exceed EUR 5700 and the total investment is less than half of the share capital of the company or the person included in the list of valuers of property investment in the Register of Enterprises;