LATVIA

About Latvia jurisdiction

Latvia, located in northern Europe, is one of the three Baltic states, bordered by Lithuania and Estonia. Latvia has almost 2.5 million inhabitants and has a strong cultural diversity, which is reflected in the linguistic diversity of its communities: Russian is spoken by 33.5% of the population; 4.1% speak Belorussian; Ukrainian is practiced by 3% of the population; 2.2% speak Polish and 1.7% speak Lithuanian. Russian and English are the main languages ​​used in business.

Quality of services 

Latvia offers a high quality in its services. In practice, it has been shown that the time required for administrative formalities is the lowest in Latvia, compared to the countries of Eastern Europe, Central Asia, Germany and United States. Moreover, according to the World Trade Organization, the exports in services of Latvia are twice as high as in imports. Pour plus de détails, n’hésitez pas à nous contacter.

Latvia and the European Union 

Since the 1th of May, 2004, Latvia is a member of the European Union, which is a guarantee of security. Therefore the currency of the country is the euro. The last years has been influenced by a stabilization policy that has allowed a sustained GDP growth of the country. The Latvian economy now has stable indicators and an environment that is favorable to the exercise of a professional activity.

Taxation in Latvia 

Latvia has an interesting tax system, but the country is not a tax haven. The VAT, called PVN (Pievienotas Vertibas Nodokli) in Latvian is 21%. For certain categories of goods or services, the percent may fall to 12%.

The tax rate on foreign or resident companies is 15%, and 9% for microenterprises.

Thus, Latvia is paying attention to issues of tax fraud. It is also linked to France by a double taxation convention since 1997, to avoid tax evasion.

Latvia offshore Bank account 

– Free account management and very low withdrawal fees

– Extremely competitive rates for all services

– A comprehensive range of international banking services

– Extremely competitive investment solutions

– A Visa card available upon opening your account

– Very high cash withdrawal ceilings

– Multi-currency accounts

Open an offshore Bnak Account with FBS Banking™

FBS Banking has many offshore banking partners. The privileged relationship we have with our Latvian banking partner gives us the opportunity to reduce red tape when opening a bank account. For more informations,  do no hesitate to contact us.

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