The simplest way to do this is digital registration through

All persons related to the company (Members of the Management Board, Founders, Members of the Supervisory Council) must be able to give a digital signature. More about digital signature here.

How to register your business?

1. Choosing the type of legal person

First, you must choose the type of company you wish to establish.

2. Choosing a name for your company

When you are establishing a new company, you should create a name for it. The name must be unique and specific to help create a company's profile and distinguish it from other companies. More information you can find here.

3. Business

When presenting the company's registered office, it should be noted that this particular address will be used for future official communications. Find out the requirements for registration on the website of the Register of Enterprises of the Republic of Latvia

Read more here.

4. Resolution on establishment or establishment agreement

In case of a single founder, the resolution on establishment will suffice. If there are two or more founders, they must enter into an establishment agreement. The resolution on establishment shall be signed by the founder, whereas the establishment agreement is signed by all founders. 

5. The Charter

The Charter outlines the core principles underlying the operational activities of the company. They shall be signed by the company’s founder or all founders. 

6. Opening a temporary account

You need a temporary account to be able to register your company in the Register of Enterprises. The temporary account is for paying the share capital and registering the company.
Apply for a temporary account

7. Fixed capital

Fixed capital means monetary funds or cash equivalent of other assets that are invested in the company to commence and continue its operations.  

8. Shareholders’ register section

The shareholders’ register section represents a document that lists all shareholders and shares owned by each shareholder. It is signed by the chairman of the Management Board or the member of the Board of Directors acting by virtue of the power of authority signed by all members of the Board of Directors. 

9. Fill out the registration form

The application form KR4 should be signed by all founders, or the application is signed by any other person authorised by the founders subject to submission of notarised power of attorney. 

10. Micro company’s taxpayer status

If the company simultaneously with its registration wants to acquire the micro company’s taxpayer status, it can apply for it by indicating the fact in Section 8 of the application form KR4 or by submitting an application to acquire such status. 

11. Attest the signature

Where submitting paper-based documents, the signature must be attested on the following documents: application forms KR4, the shareholders’ register section, consent of the Management Board member to fill the position (where not included in the application). 

12. Pay the duties

The state duty must be paid prior to submission of registration application. Registration is only made after the Register of Enterprises has ascertained crediting of the state duty on the State Treasury account.

13. Submit the documents

Application and appendices thereto can be submitted by the founder or any other person authorised by the founders by using:

  • Regional office of the Register of Enterprises
  • E-service
  • E-mail to submit an electronically signed document
  • Mail

14. Register with the SRS VAT-payers’ register

Where the company wants to apply for the value added tax-payer’s status, simultaneously with the application to be entered in the Commercial Register it may submit the application on registration with the VAT-payers’ register. 

15. Congratulations, you are a company owner!

Congratulations, you are a company owner!

Whatever happens, we’re here by your side. Now you can open a Luminor business account via video call.

More detailed information you can get here

How to plan your business?