Business
The SIA private limited company at the Register of Enterprises
The limited liability company (SIA) is the dominant form, registered with the Register of Enterprises. A micro-capital SIA can be formed with a nominal amount, while the standard minimum is EUR 2,800.
Key rules
- A standard SIA has EUR 2,800 minimum capital; a reduced-capital SIA allows less with conditions.
- Registration is with the Register of Enterprises (Uzņēmumu reģistrs).
- Beneficial owners must be declared to the register.
Governing law
- Commercial Law (Komerclikums)
In practice
The reduced-capital SIA is popular with micro-businesses but caps the number of shareholders and requires reserves to be built up.