SIA Registration Step-by-Step: Documents, Costs, Timeline

You've decided on a SIA. Good choice — it's the most registered business form in Latvia for a reason. Now comes the part that either takes three days or three weeks, depending entirely on how well you prepare. The state registration itself is fast (1–3 business days, as of 2026). The bottleneck is almost always document preparation and the bank account that follows.

Here's exactly what happens, in order, with the real costs and the gotchas nobody mentions on government websites.

Before You File: The Preparation Phase

Three things need to be ready before you touch any registration forms.

1. Company name. Check availability through the Register of Enterprises (Uzņēmumu reģistrs) online database. The name must be unique, can't include protected terms (like "bank" or "insurance" without appropriate licenses), and shouldn't be misleadingly similar to existing companies. Have two backup names ready — our clients get their first choice rejected about 15% of the time.

2. Legal address. Every SIA needs a registered address in Latvia where official correspondence can be delivered. Options range from your own rented office to a virtual office service (typically EUR 25–50 per month, or EUR 300–600 annually). The address goes into the public register, so many founders prefer a business address over their home. If using a third-party address, you'll need the property owner's written consent.

3. Share capital decision. Standard: EUR 2,800, deposited before registration. Micro-capital: as low as EUR 1, but with profit distribution restrictions until you reach the EUR 2,800 threshold. Most first-time founders in our experience opt for standard capital — the restrictions on micro-capital SIAs create more friction than the savings justify.

The Registration Steps

Step 1: Draft founding documents.

For a single-shareholder SIA, you need:

• Application for registration (standard form)
• Articles of association (statūti) — the company's constitutional document
• Founder's decision — establishing the company, approving statutes, appointing the board member

For multiple shareholders, add a founders' agreement and meeting protocol. The Register of Enterprises provides templates for the simplest structures, which many founders use as-is.

Step 2: Handle the share capital.

Open a temporary accumulation account at a Latvian bank (this is separate from your future operating account). Deposit the share capital — EUR 2,800 for standard, or your chosen amount for micro-capital. The bank issues a certificate confirming the deposit.

A subtlety worth knowing: non-monetary contributions (equipment, intellectual property) are possible for standard-capital SIAs but require an independent valuation. This adds cost and time. Cash is simpler.

Step 3: Notarize if necessary.

Single-shareholder SIAs using the standard template can often avoid the notary entirely by submitting electronically with a qualified electronic signature. Multi-shareholder companies or those with non-standard articles typically need notarization (EUR 50–150, depending on complexity).

Step 4: Submit to the Register of Enterprises.

File your package — application, articles of association, founder's decision, capital deposit certificate, and proof of legal address. You can submit:

• Electronically via the Register's portal (requires e-signature)
• In person at the Register's office in Riga (Pērses iela 2)
• By mail (adds transit time)

Pay the state fee: EUR 150 for standard processing (1–3 business days) or EUR 250 for express (same or next business day).

Step 5: Receive your registration.

The Register reviews your documents, and if everything is in order, assigns your unified registration number. This number is your company's identity for all official purposes — tax filings, contracts, bank accounts, everything.

You'll also receive your entry in the Commercial Register, accessible publicly online. From this moment, the SIA exists as a legal entity.

What Trips People Up

In our experience, three issues cause the most delays.

Incomplete documents. The Register returns applications with missing signatures, incorrect address formats, or articles of association that don't meet legal requirements. Each round of corrections adds 2–5 business days. Have a lawyer or experienced accountant review your documents before submission — the EUR 100–200 review fee pays for itself in time saved.

Capital deposit confusion. Some founders try to deposit share capital into an existing personal account or a foreign bank. The deposit must go into a dedicated accumulation account at a Latvian bank, opened specifically for the company-in-formation. Call the bank first to confirm their process — each bank handles this slightly differently.

Electronic signature issues. If you're submitting electronically but your e-signature isn't properly configured, the system rejects the filing without a particularly helpful error message. Test your e-signature on a simpler document first.

The entire process — from the moment you begin preparing documents to holding a registered SIA — realistically takes 5–10 business days. The fastest we've seen: two days, with a founder who came to us with everything pre-prepared and used express processing.

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Need Help Registering Your SIA?

Getting the documents right on the first try saves days of back-and-forth with the Register. Our team at Corvus Accounting & Tax prepares your full registration package, handles the filing, and guides you through the post-registration steps that follow.

Book a free consultation →