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Baltic Commercial Office

As everybody sure have noticed, the partnership agreement announced a month ago finally ends in a very promising new company. Baltic Commercial Office was established the last 24.07.2012 and registered in the Commercial Registry of Latvia on 08.08.2012. Baltic Commercial Office will be from now the source to direct all our work and efforts to accomplish our goals. "Balticco" will be the commercial brand for the new company which has already closed several agency agreements with Spanish companies and is working in several more in what undoubtely constitutes a very succesful starting. Please be welcome to contact with us if you want to know more about this new adventure.


Latvia introduces tax incentives for international holding companies

Starting 2013 Latvia exempts from corporate income tax: 


• Dividends paid to non-residents; 

• Dividends received from non-residents. 

In addition from 2013 capital gains on sale of shares in subsidiaries will not be counted in calculating the taxable income of a Latvian company. 

In turn starting 2014 will be exempt from corporate income tax: 

• Interests paid to non-residents after 31 December 2013; 

• Royalties paid to non-residents after 31 December 2013. 

Application of above incentives is unconditioned (the size of stake, period of holding, type of business, etc. are irrelevant). This would be a very strong advantage of the Latvian tax regime. 

Latvian corporate income tax is imposed at a single fixed rate of 15%. 

The above exemptions do not apply to income paid to or received from off-shore companies blacklisted by the Government. 

In 2012 Latvia has valid Tax treaties with 50+ countries. Tax treaty with Russia is also signed; the expected start of application – year 2013.

These are very good news for Latvia and its Foreign Investment Policy. Latvia, like its Baltic neighbours, Estonia and Lithuania, is making an extraordinary effort to overcome the world economic and financial crisis. These new changes in the Tax Law will suppose a very interesting source of opportunities for foreing companies operating in Latvia. 

Criado Business Services and Baltic Commercial Office offer their services to any foreign company looking for starting business in Latvia. Please contact us for further information.

(Thanks to Dmitrijs Petrovs for the information. Posted on LinkedIn on 30.08.2012)

New Partnership Agreement

Criado Business Services is negotiating a new partnership agreement. This will bring a better structure for our company and it will allow us to improve our services.  

This new partnership will bring a change of denomination. At the present time we are still negotiating the terms of the partnership and the better denomination for our company. 

The new agreement will bring for us the opportunity to cover bigger area of influence and a faster answer to our client's requirements.

We will make an announcement as soon as everything is determined.