What is Individual enterprise?
An individual company is a legal entity established for the organization of the property of one natural person for the purpose of carrying on an economic activity.
What is a family company?
A family company is a legal entity established for the organization of a joint family property for the purpose of carrying on an economic activity. The property invested in such a company belongs to the family members involved in the family business.
As all of the legal entities, An individual company must register with the Enterprise Register to start a business.
It usually takes up to 3 working days, costs around 81,50Eur - 232,50Eur and you can register it electronically.
Documents to be submitted:
- Application Form 3
- Founding contract (if a family business is established)
- Statutes governing the basic principles of the company's operation (if any)
- The signature of each signatory is a sample because the documents are submitted in paper form
- A voucher or a copy of it, or an internet bank payment, or information about payment of the state fee
- A voucher or a copy thereof, or an internet bank payment, or information about the publication in the "Latvijas Vēstnesis".
Conditions for registering a business address:
- The legal address must coincide with the address entered in the National Address Book. Checking the free address in the national address register information system kadastrs.lv
- If the real estate consists of several groups of premises, it is necessary to specify the exact room number of the group where the registered office
If you have any questions about this topic, feel free to contact us and we will provide you with our solutions!
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