In December 2016, 1Office Group opened its new office in Latvia, Riga. The new office in Riga marks the firm’s fifth location in the Northern Europe region.

The new office was formally opened last autumn, when Ragnar Everest, the CEO of 1Office Group, saw the need to bring our business services to this region. The Latvian branch is led by the CEO himself to guarantee great service and international competence.

With the new office, 1Office starts its second wave of expansion. “Our goal is to open one new office in Northern Europe each year to make our services accessible to our international clients,” says Everest.

Business services in Riga city centre

The decision to open a new branch in Latvia was easy to make. The number of customers asking for business services in Latvia has been increasing during the past two years. The biggest need is for registering a Latvian company (SIA), opening a local bank account, getting VAT registration, understanding the tax system and getting the monthly accounting organized. 1Office team can provide these services in English, Russian and Latvian.

To help our customers, we have put together a team that can serve international entrepreneurs best interests in Latvia.

Starting business in Latvia

The four biggest challenges for a non-resident who wants to start a business in Latvia are as follows:

1. There are very few online services that allow communication with governmental departments. This means you should plan several visits to Latvia and allow plenty of time to complete the formalities.
2. To submit your application to the Latvian Commercial Register, you need to visit a public notary and consult with a local accountant or lawyer, who will help to prepare your documents. All documents have to be in Latvian.
3. It is difficult to find accurate information in any language other than Latvian. Both the public and private sector prefer to communicate with you in either Latvian or Russian, so it is necessary to use a translator/interpreter.
4. Even though the Latvian government has been taking steps to decrease the amount of bureaucracy, there is still a lot. Be prepared for it to take you a couple of months longer than expected to get started with your business.

1Office Latvia team is at your service. Let us know of your business plans and wishes by clicking on the button below. You can also call +371 6616 3162 or email riga@1office.co.