The SIA (Sabiedriba ar ierobezotu atbildibu) is the Latvian equivalent of a limited liability company. It is the most common legal form for foreign entrepreneurs setting up in Latvia. Thanks to the Latvian commercial register's digital system, the formation process has become remarkably fast. Here are the 5 steps to create your SIA in 2026.
What is a SIA?
A SIA is a limited liability company under Latvian law. The shareholder(s) are only liable up to the amount of their share capital contribution. It can be owned by one or more individuals or legal entities, of any nationality. It is the recommended structure for entrepreneurs wishing to benefit from Latvia's advantageous tax regime (0% corporate tax on reinvested profits).
Step 1: Prepare the founding documents
Before any other procedure, you need to prepare the following documents:
- The articles of association (in Latvian), defining the business purpose, governance structure and operating rules.
- The founding decision, a formal incorporation act signed by the founder(s).
- Proof of identity of the founder(s) (passport or European ID card).
- Proof of registered office address, such as a lease agreement or property owner's certificate.
All documents must be in Latvian or accompanied by a certified translation. Balt Partners prepares all of these documents for you as part of our SIA formation service.
Step 2: Choose the company name and registered office address
Your SIA's name must be unique in the Latvian commercial register. You can check availability online through the Lursoft portal or directly via the commercial register. The registered office address must be a physical address in Latvia. A simple PO box is not sufficient.
Step 3: Deposit the share capital
The minimum share capital for a SIA is €2,800. This amount must be deposited into a temporary bank account opened in the name of the company being formed. Once the company is registered, the account is converted into a permanent current account.
Good news: since 2021, it is possible to create a SIA with a reduced share capital of €1 if the company has a single individual shareholder and projected turnover below certain thresholds. However, the €2,800 capital remains recommended for banking and commercial credibility.
Step 4: Submit the file to the commercial register
Since 2025, the registration process has been largely digitised. The complete file can be submitted online via the Latvian commercial register portal. The required documents are:
- Registration application form (online).
- Signed and notarised articles of association.
- Founding decision.
- Bank certificate of capital deposit.
- Proof of registered office address.
The commercial register filing fees are approximately €150. For an expedited request (processing in 1 business day), an additional €100 fee applies.
Step 5: Obtain the registration number and start operating
The commercial register processes applications within a standard timeframe of 1 to 3 business days. Once approved, your SIA receives a unique registration number. You can then:
- Activate the company's bank account.
- Register with the SRS (State Revenue Service) for VAT and tax obligations.
- Begin your commercial activity.
Summary: costs and timelines
- Minimum share capital: €2,800 (or €1 in simplified form).
- Registration fees: €150 (€250 for expedited processing).
- Notary and translation fees: €200 to €400.
- Total timeline: 2 to 5 business days, depending on the chosen procedure.
With Balt Partners, we handle the entire process: drafting the articles of association, coordinating with the notary, filing with the register, opening the bank account and tax registration. All in English, without you needing to speak Latvian. See our pricing for more details.