Individual merchant is natural person, who is registered in commercial register of the Register of Enterprises. Individual merchant according to Latvian legislation is responsible for his obligations by all his property, it means – unlimited financial and legal responsibility. Owner or Individual merchant who is registered in commercial register of register of enterprises is the same person.

Individual businessman must register his business in the Register of Enterprises as Latvian Individual merchant if at least one of following point is executed:

  • Annual turnover of commercial activities exceeds 284.600,- Euros or;
  • Commercial activities conform with activities of commercial agent or;
  • Commercial activities conform with activities of realtor estate agent or;
  • Annual turnover of commercial activities exceeds 28.000,- Euros and
  • Person at any time employs more than five employees.

Key Features of Latvia Individual Merchant (IK)

  • Legal Liabilities

Unlimited

  • Share or Equity capital

No

  • Management

Individual merchant is managed by owner-Himself

  • Legal Status

Natural Person

  • Annual Report

He is required to submit once per year

 Advantages of Latvia Individual Merchant (IK)

  • Tax benefits
  • Short time registration of a new company
  • Any foreign person can be a founder of Latvian company
  • Your attendance is not necessary
  • Easier order of entering and residence in EU 

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support