Latvia Offshore Company FAQs

1.What is an Offshore Company?

An offshore company can be described as companies that conduct zero volume of business within their jurisdiction of incorporation.

2.What will be the basis of the entire legal system?

The entire company will come under the Common Law.

3.Do I need to be physically present while opening a bank account?

This depends upon the rules and requirements of the bank.

4.Will the use of a company secretary necessary by the Offshore Company in Latvia?

No, the use of a company secretary is not necessary.

5.What is a nominee director?

A nominee director can be used if the client is unable to meet the local requirements. The name of the nominee director will be mentioned in all the necessary documents of the company.

6.Does opening an offshore company mean that the bank account will automatically open?

No. for opening a bank account you need to mention the requirements of the company in the form.

7.What are the primary documents which will be required to set up an offshore company?

The primary documents required are:
● Incorporation Forms
● Relevant License
● Memorandum of Association
● Article of Association

8.How long will it take for an offshore company to setup?

The company can be set up within 3-4 days.