What is Cooperative society?

What is Cooperative society?
A cooperative society is a voluntary association of natural and legal persons whose purpose is to provide services to increase the efficiency of its members' economic activities.
A cooperative company is a legal entity.

Rules:

• The cooperative company has the status of a merchant, with the exception of agricultural services, forestry services, apartment owners, car garage owners, boat garage owners and horticultural cooperatives;
• The minimum number of founders of a cooperative society is three, but in the agricultural services and forestry service companies - five
• The founders and members can be both natural and legal persons.

Cooperative companies must be registered in the Register of Enterprises in order to start their activities, and it takes up to 3 working of Consideration, it costs from 162,03 Eur to 481,03 Eur and you can register it through the internet.

Documents to be submitted:

• Application Form 1
• The Treaty establishing the
• Statute
• Meeting minutes of the meeting
• Signature of signature of each signatory (must be signed)
• Bank's statement on the payment of share capital (if the share capital is paid in cash)
• Document proving the value of a property investment (if a property contribution is made)
• 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 more information about company registration, contact us!