To open a company in Latvia, it is necessary to pay the equity capital. The standard process requires opening a temporary bank account and then depositing funds into it. However, for non-residents, especially those who do not have a residence permit in Latvia, this requirement has now become an almost insurmountable obstacle. Strict banking requirements make the process of opening a temporary bank account and setting up a company in Latvia extremely difficult, if not impossible, for foreign entrepreneurs.
Alternative solution: property contribution
There is a solution to this problem – making equity capital in the form of a property contribution. The company’s equity capital can be paid not with money, but with property that can be used in the company’s economic activities. Property contributions can be various things, such as computers, smartphones, office equipment and other assets acquired by the company founder with personal funds.
Valuation of property contribution
To make a property contribution, it is necessary to attract a specialized appraiser who will assess the value of the contributed property. Although this slightly increases the cost of setting up a company, this method of paying for equity capital avoids the need to open a temporary bank account. As a result, the process of opening a company in Latvia becomes easier and more accessible for foreign entrepreneurs.
Support from the Law Office Inlatplus
Law Office Inlatplus is ready to provide full support in establishing a company in Latvia, including assistance in organizing the assessment of property contributions, as well as providing further legal support for the established company.
If necessary, we will also assist in obtaining a temporary residence permit based on employment in an established company.
Our team of professionals will ensure the company registration process and help you overcome all the obstacles associated with starting a business and obtaining a residence permit in Latvia.
Law Office Inlatplus will offer optimal solutions and provide comprehensive legal support on any issues.
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