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.

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.

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.