The society (community) with limited liability (Ltd) is closed society(community), which share is not object of a public revolution.
Ltd - Legal person, which authorized capital, consists of the sum of nominal size of a share.
 

Ltd for the obligations is liable by all property. The responsibility Ltd and proprietors of a share is differentiated. The proprietors of a share have the right to agree, that the minimum one participant is liable by all property. Ltd has a legal address.
 

The founders can be the legal and physical persons, and the founder can be one person.
 

The operative management carries out board of administration (or circumspect director), which is selected by(with) the proprietors of a share. Not less than 50 % of the members of board of administration should have a constant place of residence in Latvia. Ltd may have a supervisory body advisory board which supervises work of board of administration and executes other functions.
 

The authorized capital should be not less than 2000 Latvian lats. Before application for registration it is necessary to pay a minimum 50 % from the authorized capital.
 

Ltd, on the basis of the normative acts of Latvia, is the payer of the taxes and duties.
 

For registration Ltd it is necessary
 

Data about the founders
If the founder is physical person - name, surname, personal code, residence, (for the members of government - number of the passport, place, date of distribution and name of organization, which has given out the passport)
If the founder is legal person - name, registration number, legal address, name, surname, personal code, residence, post of the person, which participates in establishment Ltd.? To confirm the right to represent the legal person in establishment Ltd, the participants of the legal person need to accept the appropriate decision.
 

Name (firm) of Ltd. The name should is clear and obviously to differ from registered (declared on registration) firms. In the name it is authorized to use only Latvian (Latin) letters.
 

Information on size of the authorized capital, quantity (amount) of a share, nominal size of a share, distribution between the founders. Whether the information on that a part of the authorized capital will be paid by the property contribution. If yes, the information on each subject of the property contribution, proprietor and cost of a subject. If general(common) size of the property contributions no more than 4000 Latvian lats and property contribution less than half of authorized capital, an estimation of subjects are made by (with) founders.
 

To the auditor, each member of board of administration and board of advice (board of advice to form not necessarily) - a name, surname, personal code, residence, number of the passport, place, date of distribution and name of organization, which has given out the passport.
 

The consent of each member of board of administration and board of advice to carry out functions, accordingly, member of board of government and board of advice.
 

To the members of board of government and board of advice to assure the signatures at the jury notary.
 

To open the account in bank and to bring in the sum of the authorized capital according to the constituent contract (decision), and to receive the bank information (addressed to the Commercial register) about payment of the authorized capital.

Expenses.

> State Tax for entering into the commercial register - 100 lats*

> Payment for the announcement of record in the commercial register - 24 lats

> Payment for services of the notary - not less than 30 lats

> Payment for drawing up of the constituent documents - 30 lats

> Payment for services of bank

* Registration in 14 working days.