Registering a SIA in Latvia: Step by Step Guide, Documents, and Costs in 2026

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SIA (Sabiedrība ar ierobežotu atbildību) is Latvia's limited liability company, equivalent to an LLC. It is the most popular business form in Latvia: over 90% of all commercial companies are registered as SIA. The registration procedure is fast and relatively affordable: under the standard option, a company can be registered in 1 to 3 business days with costs ranging from 150 to 350 euros. In this guide, we will cover the complete SIA registration procedure in Latvia in 2026.

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What Is a SIA and Why It Is the Best Choice for Business in Latvia

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A SIA is a legal entity with limited liability. The founder is responsible for the company's debts only up to the amount of contributed share capital, not with personal assets. SIA can engage in virtually any legal activity. Founders can be individuals or legal entities, residents or non-residents of Latvia.

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Minimum Share Capital for SIA in 2026

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The standard minimum share capital is 2,800 euros. A simplified option exists: SIA with share capital starting from 1 euro (with the obligation to allocate at least 25% of net profit annually to a reserve fund until capital reaches 2,800 euros). Most serious enterprises choose the standard 2,800 euro option.

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Documents Required for SIA Registration

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• Registration application (available at ur.gov.lv)
• Decision to establish SIA: for a sole founder, this is a sole participant decision; for multiple founders, a founding meeting protocol
• Company articles of association (statūti)
• Statement of share capital contribution: confirmation that capital has been deposited in a bank account
• Board member data: name, personal code or date of birth, place of residence
• Board member consent to the position (signature notarized or electronically signed)
• State fee payment receipt
• Legal address confirmation: premises owner consent or rental agreement

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Step by Step SIA Registration Procedure

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Step 1: Choose a company name

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The SIA name must be unique. Availability can be checked free at the Enterprise Register website (ur.gov.lv).

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Step 2: Determine the legal address

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Every SIA must have a legal address in Latvia. This can be rented premises, own office, or even an apartment with owner consent.

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Step 3: Deposit share capital

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For a standard SIA, open an accumulation account at a Latvian bank and deposit at least 2,800 euros. Account opening may take 1 to 4 weeks depending on the bank and KYC procedures.

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Step 4: Prepare founding documents

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Articles of association and the founding decision can be prepared independently or with a lawyer. The Enterprise Register offers standard template articles.

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Step 5: Submit documents to the Enterprise Register

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Documents are submitted electronically through ur.gov.lv (using eParaksts) or on paper at the Register office in Riga. Standard processing: 3 business days. Expedited: 1 business day for an additional fee.

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Step 6: Receive the registration number

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After a positive decision, the company receives a unique registration number and is entered in the Commercial Register. From this moment, the SIA is a legal entity and may commence business activity.

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SIA Registration Costs: Complete Breakdown

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• State registration fee: 150 euros (standard, 3 days) or 300 euros (expedited, 1 day)
• Notarization of board member signature (if filing on paper): 15 to 30 euros
• Share capital: minimum 2,800 euros (remains in the company account)
• Legal services for document preparation: 100 to 300 euros
• Bank account opening: free or 50 to 150 euros

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Total excluding share capital: 265 to 780 euros.

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What Must Be Done Immediately After SIA Registration

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Open a settlement account

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Open a settlement account at a Latvian bank (Swedbank, SEB, Citadele, Luminor). KYC for new SIA may take 1 to 4 weeks.

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Register with VID

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Registration with the State Revenue Service (VID) is mandatory. If turnover exceeds 40,000 euros in 12 months, VAT (PVN) registration is also required.

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Find an accountant

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From the moment of registration, SIA must maintain accounting records. Licensed accountant services for a new micro-SIA cost 100 to 200 euros per month. The accountant will set up the accounting system and prevent penalties for missed declaration deadlines.

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Set up electronic invoices

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From January 1, 2026, all enterprises must issue domestic invoices as structured e-invoices.

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Issue EDS power of attorney

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For filing declarations through VID EDS, the director needs Smart-ID, eID, or eParaksts. If the accountant will file, a power of attorney must be issued through EDS.

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SIA Registration for Foreigners

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• Foreign nationals may register SIA in Latvia without restrictions. No residence permit or citizenship required
• Notarization requires personal presence at a Latvian notary or a power of attorney with apostille from abroad
• Bank account opening for SIA with foreign founders may take longer due to enhanced KYC
• If the foreigner plans to serve as director and work in Latvia, a work visa or residence permit is needed
• SIA registration and operation with genuine activity can serve as grounds for a business residence permit

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Common Mistakes in SIA Registration

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• Name matches an already registered enterprise: registration will be rejected
• No premises owner consent for the legal address
• Share capital not deposited before document submission
• Articles contain errors or do not comply with the Commercial Law
• Bank account not opened after registration
• No accountant found in the first month: declaration deadlines missed, penalties incurred

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Frequently Asked Questions

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How long does SIA registration take?

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Standard registration: 3 business days. Expedited: 1 business day. Including bank account opening and document preparation, the entire process takes 1 to 3 weeks.

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What is the minimum share capital for SIA?

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Standard option: 2,800 euros. Simplified option: from 1 euro (with obligation to allocate 25% of profit to reserve fund until 2,800 euros is reached).

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Can a foreigner register a SIA in Latvia?

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Yes, without restrictions. No residence permit or citizenship required. To work in Latvia as director, a work visa or residence permit is needed.

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How much does SIA registration cost?

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State fee: 150 euros (standard) or 300 euros (expedited). Legal services: 100 to 300 euros. Total excluding share capital: 265 to 780 euros.

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Is an accountant needed immediately after SIA registration?

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Yes. From the moment of registration, SIA must file monthly declarations with VID even without activity. Accounting services for a new micro-SIA: 100 to 200 euros per month.

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How Lex&Finance Specialists Can Help With SIA Registration

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Lex&Finance provides complete SIA registration support in Latvia: from founding document preparation to receiving the registration number. Our lawyers will verify name availability, prepare articles of association and all required applications, arrange notarization, and file documents electronically. For foreign clients, we organize the entire process remotely through a power of attorney.

After registration, we connect accounting services: set up bookkeeping, register the enterprise with VID, issue the EDS power of attorney, configure e-invoices, and begin filing declarations. This ensures a seamless transition from registration to actual business activity. Contact us for a free initial consultation through our website lexfinance.lv or by phone.