10.11.12
Micro Company tax
Micro-enterprise tax
Micro-enterprise Tax - on 9 August 2010 Saeima of the Republic of Latvia has been accepted "Law on micro-tax." The new tax took effect from 01 September 2010.
Company formation and registration as a new business at the same time have the opportunity to apply for the micro-enterprise tax payer. But the company, which already operates can apply or can be refused as a micro-enterprise tax payer until December month of a current year and starting from next year it shall be registered as a micro-enterprise taxpayer or the company may be terminated at the micro-enterprise tax status.
An undertaking to this tax purposes would be considered micro must meet the following criteria:
- Company members must be individuals who have the company's board;
- Turnover during the year can not exceed 70 000 lats;
- Number of employees at the same time is not more than 5 employees.
The micro-enterprises are considered to be both a sole proprietorship and farms, and limited liability companies. In case a company deploys a successful year and its turnover exceeds the amount of 70 000 LVL, there is an additional 20% tax rate part that has exceeded the maximum. For example, if the company's turnover was 100 000 Ls, the excess part of the example is 30 000 is suitable for the 20% tax rate.
A company that wants to be micro-enterprise taxpayer may employ up to 5 employees, each of which can cost up to 500 LVL / month large salary for paying any additional taxes and / or social contributions. In the event an employee's salary is higher than 500 LVL / month applies to an extra 20% tax rate on the wage share, which is over 500 LVL. For example, if the salary is 600 LVL, then an additional 20% rate is applied to LVL 100 or the amount of the excess over the maximum salary. If a situation arises where a micro-business while employing more than 5 persons, the turnover tax is further increased by another 2%. For example, if the company employs 6 people, then mikoruzņēmuma tax will be 11% (9% + 2%). Micro-enterprises tax payment companies should do on a quarterly basis following the previous quarter's sales.
More information can be found in Accounting services.
09.11.12
Information about Visas
Visas and invitations
| - Lithuania; |
There are two types of Visa:
If You need legal services or accounting services, please contact us
Tel. (371) 29 112 333
e-mail: info@register-company.lv
08.11.12
Scheme of immigration
Scheme of emigration to Latvia (European union)
1. Collection of all necessary information about Latvia, about emigration to Latvia and then taking decision about emigration.
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2. Signing a contract with register-company.lv about registering a company in Latvia and providing us with documents we need for starting the process of registration Latvian company and emigration to Latvia. Client must provide:
– Passport for traveling abroad;
– Home address written in English;
– Police clearance certificate proving that a client hasn’t committed any crime in his native country;
– Preferable name for future company;
– Division of shares in case if it is provided two or more share holders to company.
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3. Advance payment 50% of the contract. Then register-company.lv prepares powers of attorney that Client has to sign in Latvian consulate in presence of notary and with their help we start the procedure of registration your company according to Commercial law of Latvia. Some documents must be legalized. For more information see: Legalization of documents.
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4. After we get documents in one week your Latvian company will be registered and you will get proof that you are its 100% owner board member.
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5. We prepare pack of documents need for residence permit (including proof of accommodation, company’s registration certificate, and translated necessary documents);
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6. Scanned copies of all certificates are sent to a client and Client pays remaining 50% of our fees according to contract.
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7. Originals of all needed documents are sent by currier (DHL or TNT) to a client.
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8. Client applies in Latvian consulate (Latvian embassy) for multiple residence permit with purpose of running business. Residence permit gives right to travel in all Schengen countries (note: UK and Ireland are not part of Schengen).
If You need legal services or accounting services, please contact us
Tel. (371) 29 112 333
e-mail: info@register-company.lv
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