When choosing where to establish a business, entrepreneurs typically compare tax regimes, incorporation costs, and the ongoing cost of maintaining a company. Latvia remains one of the most attractive business jurisdictions in the European Union thanks to its transparent corporate framework, modern legislation, and a corporate tax system designed to encourage business growth.
However, the government registration fee is only one part of the overall cost of starting a business. Foreign investors should also budget for legal support, accounting services, a registered office, and other mandatory compliance costs.
This guide explains the key expenses involved in establishing a Latvian private limited liability company (SIA) in 2026.
How Much Does It Usually Cost to Start a Business?
For most foreign entrepreneurs establishing a Latvian private limited liability company (SIA), the initial budget typically looks like this.
Example
Registration of a Latvian SIA by a single foreign shareholder in August 2026.
| Item | Estimated cost |
| Company registration with legal support (including the government registration fee) | from €450 |
| Registered office through the end of 2026 | €350 |
| Accounting services through the end of 2026 (dormant company) | approximately €330 |
Estimated minimum budget to launch a business through the end of 2026: from €1,130.
This example is provided for illustrative purposes only. The final cost depends on the ownership structure, the composition of shareholders and management bodies, document execution requirements, the need for certified translations or legalization, VAT registration, and other project-specific circumstances.
Let’s look at what makes up these costs.
Government Registration Fees
A government registration fee is payable when incorporating a company in Latvia. The amount depends on the legal form of the business and generally ranges from €20 to €85.
Latvian law also provides for an expedited registration procedure, in which case the government registration fee is tripled.
It is important to note that the government registration fee represents only a small part of the overall cost of establishing a business. In practice, the main expenses are associated with preparing corporate documentation, legal support, arranging a registered office, and ongoing accounting services.
Legal Support for Company Registration
The Latvian market offers company registration packages starting from €100–200. These services are generally intended for straightforward company incorporations using standard template documents and include only a limited level of legal support.
For foreign investors, this is often insufficient. Depending on the ownership structure and the nature of the project, it may be necessary to prepare bespoke corporate documentation, coordinate document signing across multiple jurisdictions, arrange certified translations, legalize documents where required, and manage the entire incorporation process.
At BBCRiga, professional company registration services start at €450. For projects involving multiple shareholders, foreign corporate shareholders, holding structures, or more complex governance arrangements, the cost of legal support typically ranges from €450 to €900.
A fixed quotation can only be provided after reviewing the ownership structure, management arrangements, document signing requirements, and other project-specific factors.
Notarisation and Legalisation of Documents
Where incorporation documents are signed in paper form, signatures must be notarized. Depending on the country where the documents are executed, certified translations, an apostille, or consular legalization may also be required.
Where documents are signed using a qualified electronic signature recognised in Latvia, notarization is generally not required.
The costs of notarization, translations, apostilles, and legalization are not included in the minimum business start-up budget, as they depend on the number of documents involved and the country in which they are signed.
Registered Office
Every Latvian company must have a registered office located in Latvia.
The cost of this service typically ranges from €300 to €600 per year.
When selecting a provider, it is advisable to ensure that the service includes receiving official correspondence, scanning incoming documents, and forwarding them without delay.
Accounting Services
Once a company has been incorporated, accounting becomes an essential part of its ongoing legal compliance.
The cost of accounting services depends primarily on the level of business activity, the number of accounting records, VAT registration, the number of employees, and the overall complexity of the business.
At BBCRiga, accounting services are priced as follows:
- Dormant company – €800 per year
- Company with limited business activity – €1,200 per year
- Active company – from €100 per month (excluding VAT) or from €260 per month (including VAT)
As this article is published in August 2026, the estimated accounting costs through the end of the year are:
- Dormant company – approximately €330
- Company with limited business activity – approximately €500
- Active company – from €500 (excluding VAT) or from €1,300 (including VAT)
When choosing an accounting provider, businesses should consider not only pricing but also experience in supporting foreign-owned companies, VAT-registered businesses, and international operations.
Annual Financial Statements
Preparation of the annual financial statements is usually charged separately. In many cases, the fee is broadly comparable to one month’s accounting services.
Where required by law, the annual financial statements must be audited by a Latvian sworn auditor. In such cases, the overall cost of preparing and filing the annual financial statements may increase significantly.
Tax Compliance
All tax returns in Latvia are submitted electronically through the Electronic Declaration System (EDS) of the State Revenue Service.
Foreign business owners who do not have a local accountant on staff typically authorize an accounting firm or tax representative to submit mandatory filings and communicate with the tax authorities on their behalf.
Conclusion
Government registration fees in Latvia are relatively modest. When budgeting for a new business, however, entrepreneurs should take into account not only official government charges but also the costs of legal support, accounting services, a registered office, and ongoing compliance.
One of Latvia’s principal advantages is its corporate income tax system. Corporate income tax is payable only when profits are distributed, allowing businesses to reinvest earnings without immediate taxation. Over the long term, this has a far greater impact on the overall cost of doing business in Latvia than the government registration fee itself.
