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SIA establishment
We offer quick and professional preparation of all necessary documents for establishment the SIA.
Economical
- Preparation of all necessary documents
- Organizing your signature verification procedure
- Submitting documents to the Register of Enterprises
- Receiving documents at the Register of Enterprises
- Assistance with opening a bank account
- Registration at the SRS
- Document delivery within Riga
Comfort
Most popular- Preparation of all necessary documents
- Organizing your signature verification procedure
- Submitting documents to the Register of Enterprises
- Receiving documents at the Register of Enterprises
- Assistance with opening a bank account
- Registration at the SRS -Document delivery within Riga
VIP
- Preparation of all necessary documents
- Organizing your signature verification procedure
- Submitting documents to the Register of Enterprises
- Receiving documents at the Register of Enterprises
- Assistance with opening a bank account
- Registration at the SRS
- Document delivery within Riga
Establishing the SIA consists of several stages:
Document preparation
Temporary bank account opening
Depositing the money into bank account
Verification of signatures
Submitting documents to the Register of Enterprises
Receiving documents at the Register of Enterprises
Registration at the SRS
When ordering the service of establishing the SIA, it is very important to prepare 2-3 potential options of SIA names. The establishment of the SIA will also require information about the members (business owners), the number of shares and their distribution, the composition of the board of the company (operational management of the company) and the legal address of the company.
Note: We will prepare all necessary documents for the establishment of SIA only after the invoice is paid.
SIA establishing costs
- State fee for registration of SIA: 142,29
- Publication in “Latvijas Vestnesis”: 27,03 EUR
- Verification of signatures: At the Register of Enterprises – from 14,22 EUR (depending on the number of founders and board members), at the notary – from 40 EUR (depending on the number of founders and board members)
- Opening the bank account (according to the price list of chosen bank)
Total: approx. 185 – 210 EUR
Fees for the establishment of SIA can be paid by bank transfer before submitting the documents to the Register of Enterprises or with a payment card at the Register of Enterprises when you will submit the SIA establishing documents
How long does it take to establish a SIA?
If SIA establishment is carried out by 1 person – 1-3 business days.
If SIA establishment is carried out by 2 (or more) persons – 3 business days.
Paying the state fee in triple amount (426,87 EUR) – 1 business day.
What is SIA?
Limited Liability Company (SIA) is a closed capital company whose shares are not subject to public trading. Legal status of SIA – a legal person. Liability of SIA is limited
SIA is responsible for its obligations with all its property;
SIA is not responsible for participant’s obligations;
The participant is not responsible for the liabilities of SIA.
Establishing a SIA is the most popular way of starting a business
The establishment of SIA goes in the following order
Preparation of SIA establishment documents
Send us information about establishment of SIA and we will prepare all documents for submission to the Register of Enterprises.
Opening of a temporary account at the bank for SIA establishment
The founders of must open a temporary account in bank they choose, in which fixed capital must be deposited.
Submission of establishment documents to the Register of Enterprises
The prepared documents shall be brought to the Register of Enterprises, verify the signatures and submit the documents.
Decision on establishment of new SIA
Within 1-5 business days, the decision on establishing the SIA will be available at the Register of Enterprises.
Documents required for establishing the SIA
Decision of establishing the SIA (if there is one founder) or the founding agreement of SIA (if there are several founders)
SIA statutes (in one copy)
Document certifying the payment of the share capital to the bank account
Notice of the legal address of SIA
The consent of the owner to the registration of legal address of the company in the relevant building or apartment property
Shareholders’ registry
Application for establishing the SIA
Who can establish SIA?
One or more participants may start the establishment of SIA. Both physical person and legal person can establish the SIA. The physical person must be of legal age and legal capacity. A foreign citizen (foreigner) or a foreign legal person may also be shareholder of the SIA.
Share capital of SIA
Establishment of SIA can be performed if the share capital is at least 2800 EUR. At least half (50%) of the share capital of SIA must be deposited before submitting the necessary documents to the Register of Enterprises for establishing of the Company, while the remaining part has to be paid within one year. The establishing share capital of SIA can be paid both in cash and in property.
Legal address for establishing the SIA
To establish the SIA a legal address of the company must be indicated. Registration of the legal address also requires the consent of the owner – to establish the SIA in the respective building or apartment ownership. The consent shall include the cadastral number of the property, the name and last name and personal identification number of the owner or, if the owner is a legal person, the name and registration number. If the application is signed by the person who owns the property indicated in the legal address, the consent is not required.
Rent of legal address
If you do not have a legal address, we offer to rent a legal address for the establishment of your SIA. We promise to regularly check incoming correspondence and report to you.
Decided to start the establishment of SIA, what next?
If a decision has been made about the establishment of SIA, we invite you to send us an application, which must contain information about establishment of SIA:
2-3 options of the name
legal address (the official address to be used for the establishment of the SIA)
each participant's passport image, declared address, the total number of shares and their distribution
image of each member of the board, address and scope of authority (with signature rights, without signature rights)
types of planned activities of SIA
the name of our service (economic, comfort or VIP)
your contact phone number so we can contact you
Upon receipt of the application for establishment of SIA, we will contact you during one working day and will send an invoice for our service package depending on your choice (economic, comfort or VIP). You can pay the invoice from any Internet bank or branch of the bank. After paying the invoice, you will receive an e-mail with all prepared documents for submitting to the Register of Enterprises, as well as information about the further submission process. You can also receive the documents at our office or they can be delivered to you by courier.