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Business Friendliness

As a small country in today’s globalized world, Latvia recognizes the importance of attracting
foreign investment in order to sustain economic development!

As a thriving democracy, Latvia has consistently pursued liberal economic policies and welcomes investments that foster principles and benefits associated with free markets. Indeed, World Bank’s report Doing Business 2019 ranks Latvia as 19th out of 190 countries for ease of doing business. In recent years Latvia has improved its` position and the change has come thanks to an improved accessibility to credit information and reforms that have made paying taxes easier.

Bisiness-frindliness-Latvia

  • Latvia ranked 19th in the World for ease of doing business (World Bank Report, “Doing Business”, 2019).
  • With only 7 payments necessary to pay all taxes, Latvia is ranked as No.13 in Tax Payments out of 190 countries globally (by PwC and the World Bank, 2019)
  • Transparent legal and judicial system, lawful treatment of foreign investors (by law foreign investors have the same rights and duties as local investors).
  • Competitive tax system (CIT 0% for re-invested profits and CIT 20% for distributed profits).
  • Five Special Economic Zones *:
  • Corporate tax discounts (as high as 80%, CIT in SEZ – 3%)
  • 0% VAT and no customs duties
  • Five Latvian cities ranked in top 10 in a variety of categories of the annual fDi Intelligence report, “fDi European Cities and Regions of the Future 2018/19 Rankings”. The capital of Latvia – Riga, along with Jelgava, Rezekne, Valmiera and the port city Ventspils convincingly occupy top spots in the categories for cost-effectiveness, connectivity and foreign direct investment (FDI) strategy.

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