Can You Register a Company in Latvia Without Visiting?

A US-based software founder registered his Latvian SIA in February 2025 without setting foot in Europe. His lawyer in Riga handled everything -- from name reservation to filing with the Register of Enterprises -- using a notarized power of attorney that the founder signed at a notary's office in Austin, Texas. Total elapsed time from signing the power of attorney to receiving the company registration number: 18 days.

Yes, you can register a company in Latvia without visiting. The mechanism is straightforward, though it involves more paperwork than registering in person.

Quick Summary

Remote SIA registration in Latvia is fully legal and commonly used by international entrepreneurs. The process requires a notarized and apostilled power of attorney authorizing a Latvian representative to handle registration. Total timeline is 4-8 weeks including document preparation (3-7 days), registration (1-3 days), and bank account opening (2-4 weeks). Costs range EUR 1,500-3,000 for professional assistance plus state fees. The main challenge is banking - most banks require in-person or video-KYC meetings with beneficial owners. Fintech solutions can provide temporary banking while establishing traditional accounts. Complete remote operation is possible but one brief visit to Riga often streamlines banking significantly.

How It Works

Step 1: Prepare and sign a power of attorney (POA). This document authorizes a Latvian representative -- typically a lawyer or accounting firm -- to act on your behalf in the registration process. The POA must be:

• Notarized in your country of residence
• Apostilled (if your country is a Hague Convention member) or legalized through the embassy chain (if not)
• Translated into Latvian by a certified translator

Step 2: Prepare founding documents. Your representative drafts the articles of association, founding decision, and board member consent forms. You review and approve them remotely. Some documents require your notarized signature; others can be signed by your authorized representative.

Step 3: Share capital deposit. The EUR 2,800 share capital must be deposited in a Latvian bank account. Your representative can open a temporary accumulation account for this purpose. Transferring EUR 2,800 from abroad is straightforward -- international wire transfer to the accumulation account.

Step 4: Submission and registration. Your representative submits the documents to the Register of Enterprises. Electronic submission costs EUR 50; paper submission EUR 150. Processing takes 1-3 business days.

Step 5: Post-registration setup. Your representative registers the company with VID (tax authority), sets up EDS (electronic declaration system) access, and begins the bank account opening process.

The Banking Challenge

Registration is the easy part. Opening a full business bank account without visiting Latvia is harder. Most Latvian banks require at least one in-person meeting with the beneficial owner during the KYC process. Some banks accept video identification as an alternative, but this varies by institution and is not guaranteed.

Practical options:

• Plan one trip to Riga after registration for bank meetings (2-3 days is sufficient)
• Use a fintech provider (Wise Business, for example) for initial operations while working on traditional bank access
• Ask your representative to arrange video-KYC with a bank that accepts it

The bank account typically takes 2-4 weeks after the initial meeting or video call. During this period, your company exists legally but cannot transact through a Latvian bank.

Timeline and Costs

Step	Timeline	Cost
POA notarization + apostille	3-7 days	EUR 100-300 (varies by country)
POA delivery to Latvia	3-10 days (courier)	EUR 50-100
Document preparation	3-5 days	Included in legal fees
Registration	1-3 days	EUR 50-150 (state fee)
Bank account	2-4 weeks	EUR 0-200 (bank fees vary)
Total legal/advisory fees		EUR 1,500-3,000

The entire process, from signing the POA to having a registered company with a bank account, realistically takes 4-8 weeks. The bottleneck is almost always banking, not registration.

What You Cannot Do Remotely

• Sign certain documents that Latvian notaries require in person (rare, but possible for complex share structures)
• Attend an in-person bank meeting (if the bank insists -- most do for non-resident beneficial owners)
• Collect a residence permit card (if applicable -- must be picked up at PMLP in Riga)

For everything else, a good Latvian representative handles the process as efficiently as if you were standing next to them.

FAQ

What documents need apostille for remote registration, and how does this work for different countries? The power of attorney is the primary document requiring apostille for Hague Convention countries (US, UK, EU, Australia, etc.) or embassy legalization for non-Hague countries (China, UAE, some African nations). The apostille process typically takes 1-3 business days in most countries and costs EUR 20-100. Some countries offer expedited apostille services for higher fees. Non-Hague countries must use the embassy legalization chain, which can take 2-3 weeks and cost EUR 100-300. Your founding documents may also need notarization and apostille depending on complexity, but the POA is always required.

Can I handle banking completely remotely, or is an in-person visit really necessary? About 70% of Latvian banks require at least one in-person meeting with beneficial owners for KYC compliance, especially for non-EU residents. Some banks (Citadele, occasionally others) accept high-quality video identification, but this isn't guaranteed and depends on your business type and risk profile. Fintech alternatives like Wise Business can be opened completely remotely and work for most day-to-day operations, though they may not satisfy all VID requirements for certain filings. A single 2-3 day trip to Riga for bank meetings often proves more efficient than extended remote negotiations.

How much does remote registration really cost compared to doing it myself in Latvia? Remote registration costs EUR 1,500-3,000 in professional fees plus EUR 100-400 for apostille/courier services, compared to EUR 200-500 if handling it personally in Latvia. However, the cost comparison doesn't include your travel expenses (flights, accommodation, time away from business) which often exceed EUR 1,000-2,000. The professional fees also include document preparation, legal address services, VID registration, and banking assistance - services you'd likely need regardless. For most international entrepreneurs, remote registration proves more cost-effective when factoring in total time and opportunity costs.

What's the most common reason remote registrations face delays or complications? Incomplete or improperly prepared power of attorney documents cause 60% of delays. Common issues include missing apostille, incorrect notary formats, or POA lacking specific powers required for registration. Banking delays are the second major factor - many applicants underestimate the enhanced due diligence requirements for non-resident beneficial owners. Document translation requirements and legal address setup also cause delays if not handled professionally. Using experienced Latvian representatives familiar with these pitfalls eliminates most common complications and reduces timeline uncertainty.

After remote registration, what ongoing obligations can I handle remotely versus requiring local presence? Most ongoing compliance - monthly tax declarations, VAT filings, annual reports, beneficial owner confirmations - can be handled remotely through the EDS (electronic declaration system) and professional accounting services. However, certain situations may require physical presence: serious VID audits, court proceedings, complex banking changes, or residence permit renewals. Banking relationships also benefit from occasional in-person contact. Many successful remote operators visit Latvia 1-2 times annually to maintain relationships and handle any matters requiring physical presence, while managing day-to-day operations completely remotely.

SIA "CORVUS ACCOUNTING & TAX" provides remote company registration services for international clients. We handle the full process from document preparation through banking. Get in touch to discuss your situation.