Lex & Finance: residence permit in Latvia, company formation and accounting

At least EUR 50,000 in a company with no more than 50 employees and an annual turnover or balance sheet total of up to EUR 10 million (no more than 10 foreign nationals, each making their own investment, can obtain a permit through one such company), or at least EUR 100,000 in a company that, alone or together with its subsidiaries registered in Latvia, employs more than 50 people, with an annual turnover or balance sheet total above EUR 10 million. When applying for a first permit on this basis, you also pay EUR 10,000 into the state budget. The permit stays valid only if, according to tax returns, the company pays at least EUR 40,000 (smaller company) or EUR 100,000 together with its Latvian subsidiaries (larger company) in taxes to the state and local budgets each reporting year; taxes refunded or due to be refunded do not count. The investment is made by founding a new company or increasing the share capital of an existing one. Citizens of Russia and Belarus are not entitled to apply on this basis (Immigration Law, Section 27, Paragraphs seven and eight). These are the main conditions (Section 27, Paragraph one, Clause 10, in force since 15 September 2026); the law sets further requirements, so we will review your case on the basis of your documents.

Yes. We help you register with the State Revenue Service, keep your books and file your annual income tax return.

Usually when the total value of goods and services supplied within Latvia, excluding VAT, exceeds EUR 50,000 in a calendar year (Value Added Tax Law, Section 59, Paragraph 1). The right not to register below EUR 50,000 does not apply if you supply services to a taxable person in another EU Member State and the place of supply is determined under Section 19, Paragraph 1 of the same law: you must then register regardless of turnover (Section 59, Paragraph 8). Whether this applies to your company depends on your transactions, and we can go through them with you.

Yes. Within the EU we help with company registration in Slovakia and Sweden, and outside it in Armenia and the United Arab Emirates.

Our office is at Kalpaka bulvāris 10, Riga. Call +371 27053232, email consulting@lexfinance.lv or fill in the request form on this page.