Individual merchant in Latvia

What is an Individual merchant?

An individual merchant is a natural person entered in the commercial register.

A natural person is obliged to register himself in the Commercial Register as an individual merchant if it meets one of the following characteristics:

the annual turnover exceeds EUR 284,600 from the economic activities carried out;

the economic activity performed by it corresponds to the operation of the commercial agent (Section 45 of the Commercial Law) or the operation of the broker;

its annual turnover from economic activities exceeds EUR 28 500, and also employs more than five employees at the same time to carry out its economic activities;

A natural person may also apply for entry in the Commercial Register if it does not meet the above requirements.

Registering Individual merchant  in Latvia

An individual merchant is a natural person who carries out an economic activity. An individual merchant responds with all his belongings to his obligations.

• The process takes around 1- 3 working days;
• The cost is around 45,50 - 52,50 EUR;
• Can be settled electronically.

What kind of documents do you need to fill?

Application Form KR2 (must be signed);

Accepted by the owner of the real estate for registration of the merchant's legal address (not to be provided if the owner is one of the signatories of the application;

A voucher or a copy of it, or an internet bank payment, or information about payment of the state fee;

Quotation or a copy of it, or an Internet bank payment, or information on the publication in the "Latvijas Vēstnesis".

If you need any help with registering a company, feel free to contact us!