A Latvian general partnership is a partnership the aim of which is doing business by two or more persons joining together based on the partnership agreement not limiting their liability towards creditors.
Latvian General Partnership is registered in the Commercial Register. The application for registration must include the name, surname, personal ID number, address of the place of residence of every member of the company or in case of a legal person, a name, registration number, registered address, name and registered address of the company, information on type of company and types of business activities pursued.
All partners are personally liable for the companyâs obligations as co-debtors with their whole property. After taxes in Latvia the profit and losses are divided amongst members in proportion to their investments in the partnership.
Advantages of Latvia General Partnership
- Nominee Services are permissible
- The Latvia has numerous Double Taxation treaties
- Access to various trade markets in the European Union (EU)
- A Limited company legitimizes itself for many business activities
- Business expenses can be claimed against tax
The Valsen Advantage
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.