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  • Registration of VAT payers in LatviaDatum11.04.2024 17:39
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    In Latvia, registration of Value Added Tax (VAT) payers by the State Revenue Service (SRS) in the Register of VAT Taxable Persons is governed by the following provisions:

    Article 3 and paragraphs 1 and 9 of the Article 26 of the Law 'On Value Added Tax'.
    Cabinet Regulations No. 933 'Procedures for the Application of Provisions of the Law On Value Added Tax adopted on 14 November 2006.
    Due to the accession to the EU some provisions have been added stipulating that non-taxable persons pursuing economic activities and purchasing goods in the EU area the value of which reaches or exceeds EUR 50 000 (tax not included) in the current calendar year must be registered by the State Revenue Service in the Register of VAT Taxable Persons within 30 days after reaching or exceeding the said amount. After registration this person can voluntarily request removal from the register 2 years after the day of registration at the earliest.

    Registration applies to the following persons and entities:

    natural persons - registered according to their declared places of residence;
    legal persons - registered according to their registered addresses;
    partnerships - registered according to their registered addresses entered in the Commercial Register;
    if a group of persons conducts joint economic activity on the basis of a contract, the natural person authorised to represent this group must be registered according to the declared place of residence;
    if a person of another Member State or a person not registered in the EU territory conducts one or more taxable inland transactions.
    Only undertakings, for example, general partnerships, limited partnerships, individual undertakings, limited liability companies (SIA) and joint stock companies (AS) are obliged to submit VAT applications to the Register of Enterprises of the Republic of Latvia.

    Registration as a VAT payer is compulsory if the total value of taxable transactions conducted by a natural or legal person, whose declared place of residence or registered address is situated in the Republic of Latvia, has reached or exceeded LVL 10,000 during the last 12 months. 12 months are not to be regarded as a calendar year, but they can concern any period of 12 months. Registration must take place within 30 days after reaching or exceeding the said amount.

    The SRS reviews the registration application and decides on registration of a person in the Register of VAT Taxable Persons within 15 working days after receipt of the application.

    If the SRS has decided to refuse the registration, it will send this decision to the respective person by post within five working days stating the reason for refusal. A person who has received a decision on refusal of registration is entitled to adjust the registration application and submit it to the SRS again.

    A person is considered registered in the SRS Register of VAT Taxable Persons as of the day when the registration certificate of a VAT taxable person is issued to this person.

  • Thema von BalticLegal im Forum Dies ist ein Forum in...

    Official Name: Hellenic Republic
    Capital: Athens
    Total area: 131 957 km2
    GDP per capita: $24,505
    Native Language: Greek
    Government: Unitary parliamentary constitutional republic
    Population: 10,815,197
    Major Religion: Greek Orthodox Church Christianity
    Monetary Unit: Euro (EUR)
    Located near the crossroads of Europe and Asia, Greece forms the southern extremity of the Balkan peninsula in south-east Europe. Its territory includes more than 2 000 islands in the Aegean and Ionian seas, of which only around 165 are inhabited. Mount Olympus is the highest point in the country.

    Greece is one of the cradles of European civilisation, whose ancient scholars made great advances in philosophy, medicine, mathematics and astronomy. Their city-states were pioneers in developing democratic forms of government. The historical and cultural heritage of Greece continues to resonate throughout the modern world - in literature, art, philosophy and politics.

    Modern Greece has a republican structure based on the constitution of 1975. The 300 members of the single-chamber parliament are elected for a period of four years. The country is divided into 13 administrative regions.

    More than 50% of Greek industry is located in the Greater Athens area, the main economic sectors being agriculture, tourism, construction and shipping.

    The best-known contemporary Greeks include the film-maker Kostas Gavras, the Nobel Prize winner Odysseus Elitis and composer Mikis Theodorakis.

    Greek cuisine is based on goat meat and mutton. Fish dishes are also popular. Olive oil, which is produced in large quantities, adds to the distinctive taste of Greek food.

    Health & Welfare
    National free health care service. Public insurance funds the national health care system. In some cases you might have to pay for prescription. Social insurance is comprehensive including sickness, disability, accident, old-age, and unemployment benefits, allowances for families with children, and rent aid.

    Economy & Jobs
    Tourism, manufacturing, construction, forestry, fishing, and mining.

    Main Attractions
    Athens, Crete city, Dodecanese Islands, Ionian Islands, Meteora monasteries, Northeastern Aegean Islands, and Saronic Gulf Islands.

    The economy of Greece is the 34th or 42nd largest in the world at $299[99] or $304 billion by nominal gross domestic product or purchasing power parity (PPP) respectively, according to World Bank statistics for the year 2011. Additionally, Greece is the 15th largest economy in the 27-member European Union. In terms of per capita income, Greece is ranked 29th or 33rd in the world at $27,875 and $27,624 for nominal GDP and PPP respectively.

    Greece is a developed country with high standards of living. Its economy mainly comprises the service sector (85.0%) and industry (12.0%), while agriculture makes up 3.0% of the national economic output. Important Greek industries include tourism (with 14.9 million international tourists in 2009, it is ranked as the 7th most visited country in the European Union and 16th in the world[103] by the United Nations World Tourism Organization) and merchant shipping (at 16.2% of the world's total capacity, the Greek merchant marine is the largest in the world), while the country is also a considerable agricultural producer (including fisheries) within the union.

    With an economy larger than all the Balkan economies combined, Greece is the largest economy in the Balkans, and an important regional investor. Greece is the number-two foreign investor of capital in Albania, the number-three foreign investor in Bulgaria, at the top-three foreign investors in Romania and Serbia and the most important trading partner and largest foreign investor of the Republic of Macedonia. Greek banks open a new branch somewhere in the Balkans on an almost weekly basis. The Greek telecommunications company OTE has become a strong investor in Yugoslavia and other Balkan countries.

    The Greek economy is classified as advanced and high-income. Greece was a founding member of the Organisation for Economic Co-operation and Development (OECD) and the Organization of the Black Sea Economic Cooperation (BSEC). In 1979 the accession of the country in the European Communities and the single market was signed, and the process was completed in 1982. In January 2001 Greece adopted the Euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachma to the Euro. Greece is also a member of the International Monetary Fund and the World Trade Organization, and is ranked 31st on the KOF Globalization Index for 2010.

  • Doing Business in LithuaniaDatum06.03.2024 15:24
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Lithuania presents opportunities for businesses exporting abroad. Sectors include information technology, client support centres, and renewable energy as well as transportation, logistics and bio-plastics production.

    Located between the Northern and Eastern Europe, Lithuania is the largest of the 3 Baltic States.

    Lithuania has benefited from the EU assistance and development funds, amounting to 180 million EUR per annum, since joining the EU. This has helped modernise the economy. Lithuania is a member of the Schengen Area as well.

    Lithuania is ranked 24th in the World Bank Ease of Doing Business report. Lithuania joined the Eurozone in 2015.

    Benefits for businesses exporting to Lithuania include:

    English as business language
    political and economic stability
    Strengths of the Lithuanian market include:

    strategic location
    funding and support for businesses
    transport infrastructure
    multilingual, educated population
    information Communications Technology infrastructure
    Popular industries
    There is a number of popular industries in Lithuania that have the advantage of being more developed, sponsored and invested in. Because of that, they are the most likely choice for businessmen, who wish to incorporate a business in Lithuania.

    Information and communication
    Information and communication technologies industry is the largest in the Baltics. There are 25,000 employees working in this sector. Modern technologies are available, such as EDGE technology, 3G mobile communications infrastructure with data speeds of 3.6 Mbps and mobile WiMAX 4G Internet, the fastest Internet upload in Europe and the greatest GSM penetration in the EU. These factors make Lithuania attractive for offshore services. Engineering industry has been constantly growing by approximately 18% every year. This industry is competitive in terms of cost and quality and it is well-integrated into the global supply chains. Products by the Lithuanian engineers are adapted by such companies and organisations as NASA, Boeing, U.S. Army, BMW, Volkswagen, Hitachi, Siemens and Mitsubishi.

    Biotechnologies industry has been recognised as one of the most developed in the Central and Eastern Europe. Biotechnology research takes place in Lithuania, and the developed techniques and products are applied in the fields of medicine, pharmacy, chemistry, agriculture, environment, etc. Biotechnology products are recognised as 70% of them are exported to over 70 countries. Different incentives are offered to the development of biotechnology sector in Lithuania.

    Laser technologies
    Another industry that is highyl developed in Lithuania is laser technologies. Every tenth laser sold worldwide is made in Lithuania. World class quality of laser production has been recognised by nearly 100 countries. Companies and organisations as NATO, Pentagon, Nuclear Research Centre in Israel, Rezerford Laboratories in England, Berkley University, Livermore National Laboratory are the clients of the Lithuanian companies producing lasers.

    Renewable energy
    Renewable energy development is becoming important for the Lithuanian export. Potential of clean technology industry is supported by business valleys, the pool of 18,000 local scientists and researchers, world class achievements in electronics, and interest of businesses in the development of this industry.

    Free economic zones
    A free economic zone is a territory designated for the economic, commercial and financial activities where companies enjoy great economic and legal conditions for their operation. Each FEZ is established by the government and defined in a corresponding law. In 1996, two FEZs were established in Lithuania: in Kaunas and in Klaipėda. They already have been in use for 49 years. As of 1 January 2012, five more FEZs were established in Akmenė, Kėdainiai, Marijampolė, Panevėžys and Šiauliai.

  • Work in NetherlandsDatum06.03.2024 15:23
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Getting a job and working in Netherlands is one of the reasons why one might want to acquire a residence permit in Europe (an example of this would be a residence permit in Latvia). Working in Netherlands also allows you to enjoy all the benefits of residing in the EU, such as freedom of moving in the Schengen area, the chance to be employed and do business in the member-states with fewer requirement, as well as travel to European destinations without the need for a visa (with some exceptions).

    As of now, there are approximately 290 900 vacancies available in Netherlands. That is 3.4% of all the job positions, both occupied and vacant, in the country.

    Wages and expenses
    In Netherlands the minimum wage is EUR 1635.6, while the average salary is EUR 2855.

    A single person in Netherlands spends an average of EUR 864 per month, not including rent.

  • Types of temporary residency:Datum09.02.2024 22:52
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Business migration in Latvia and Lithuania
    What are the possibilities to obtain a residency permit in Latvia or Lithuania (both are in European Union)?

    Lithuanian Immigration Law provides ability to apply for residence permit up to 1 year through investments in business. In order to obtain temporary residence permit in Lithuania, the investment must fulfil following conditions:

    a company has at least EUR 28,000 share capital;
    a company has genuine economical activities and pays minimum taxes;
    the presence of investor is necessary for business activities of a company.
    Latvian Immigration Law provides ability to obtain residence permit if the foreigner`s activities are related to business. Residence permit might be granted for:

    Official of the company: Manager Director, Chief Executive, Board Member, Proxy, Representative of Branch, Representative of foreign merchant
    Shareholder of existing or newly established company: Residence permit through investment in share capital in the status of shareholder, for example, company formation and registration or acceding to existing company with significant investment
    Residence permit through investments in subordinated capital of credit institution
    Conditions for officials in the company
    Foreigner is entitled to residence permit if he holds a position of:

    Board member (Manager Director, Chief Executive), Proxy, Representative of Branch, Representative of foreign merchant
    Please note! Although the residence permit is issued for 5 years, it must be registered each year. At the moment of registration, the following should be established:

    Company must run actual business and generate taxes at least EUR 21,350 / year (this provision is not applicable to a new company)
    Conditions on investing in the equity capital of an enterprise
    According to Latvian Immigration Law there are two options:

    The amount of investment must be at least EUR 35,000
    Temporary residence permit is issued for up to 5 years though the foreigner is obliged to register the residence permit each year. Failure to do this might be basis for annulment of residence permit. For the second and following years, the foreigner shall approve his contribution to Latvian economy:

    Company must run actual business and generate taxes at least EUR 40,000 / year
    Conditions for investing in Latvian credit institutions:
    the amount of financial investments must be at least EUR 280,000;
    the term of transaction must be at least five years without the right to terminate it prior to the term of repayment of the deposit. Conditions on investing in the equity capital of an enterprise.

  • Business environment in LatviaDatum03.06.2023 10:42
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    According to the World Bank Group, Latvia ranks 22nd out of 189 countries in terms of ease of doing business. The country ranks in the top 20 for corporate credit acquisition; in the top 30: starting a business, real estate construction and registration, easy and efficient tax payment, international trade and enforcement of contracts; and among the top 50 for bankruptcy resolution and minority investor protection. The weakest point of Latvia's business environment is by far the basic power supply for newly built properties, where the country ranks 65th.

    Overall, Latvia is the most favorable for companies that do not plan to participate in the construction of new infrastructure. Ease of starting a business, paying taxes and getting credit makes a good combination with cheap but skilled and educated labor and low infrastructure and facility costs. Because of this, Latvia is a very popular country for starting a business, especially for entrepreneurs from outside the EU, as overall it takes a lot less investment to start a business in Latvia than in most other EU Member States, while the bottom line (in terms of the quality) is the same. The business risks for such entrepreneurs are comparatively low if they take into account the possible competition in the local market.

    Legal framework
    Since Latvia joined the European Union in 2004, it has adopted most of the Union's laws and directives. One of the examples is the Schengen Agreement, which allows free international trade with other EU member states (more on Latvian market access from the EU here).

    Latvian politics favors the free market and consistency with EU policies. Some analyzes classify Latvian legislation as conservative, meaning that new policies take a long time to be accepted by the government and are generally treated with caution. Legislative initiatives of the EU are excluded from this. Latvia aspires to be an active member of the European Economic Area and tries to adapt its policies to European standards.

    economic geography
    Most of the companies are concentrated in the Latvian capital Riga and the surrounding cities. Other major cities often specialize in certain market sectors, e.g. The port cities of Ventspils and Liepāja offer ice-free ports (read more about logistics in Latvia), while Daugavpils is a major rail hub.

    Cities of regional importance also play a role in Latvia's economic environment. For example, in the city of Rezekne is the Rezekne Free Economic Zone. The FEZ contributes to the development of the region and attracts companies with a real estate tax break of up to 100%, a corporate income tax break of 80% and a return on investment through tax incentives of up to 55%. Rezekne is also an important railway junction.

    The most urbanized regions of Latvia are the central, eastern and western regions. However, it must be noted that while the central region is urban through and through, the east and west are urban in the sense that the majority of the population lives near major cities, with small rural areas in between. The southern and north-eastern regions are largely rural.

    Market freedom
    Latvia is a free market economy, which means that economic policies are aimed at reducing state intervention and preventing the emergence of monopolies. According to the Wall Street Journal and the Heritage Foundation, Latvia is the 37th freest economy in the world. Latvia's score in this case is supported by high levels of tax, trade, investment and business freedoms, but is somewhat hampered by corruption and government spending.

    In Europe, Latvia ranks 17th in the market freedom ranking. This position is getting stronger every year as Latvia takes steps to integrate into the European Economic Zone and catch up with the main member states.

  • Work in FinlandDatum03.06.2023 10:39
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Getting a job and working in Finland is one of the reasons why one might want to acquire a residence permit in Europe (an example of this would be a residence permit in Latvia). Working in Finland also allows you to enjoy all the benefits of residing in the EU, such as freedom of moving in the Schengen area, the chance to be employed and do business in the member-states with fewer requirement, as well as travel to European destinations without the need for a visa (with some exceptions).

    As of now, there are approximately 49 497 vacancies available in Finland. That is 2.1% of all the job positions, both occupied and vacant, in the country.

    Wages and expenses
    In Finland the average salary is EUR 3371.

    A single person in Finland spends an average of EUR 787 per month, not including rent.

    The standard workweek in Finland is 8 hours a day or 40 hours a week.

    Useful resources
    If you are planning to work in Finland, it is useful to know the following information and contacts of organizations.

  • British Virgin Islands OffshoreDatum18.02.2023 15:53
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    The British Virgin Islands are a British Overseas Territory in the Caribbean. The islands form part of the Virgin Islands archipelago. The official language is English. The British Virgin Islands are not part of the EU, but local citizens are considered citizens of the European Union.

    Business needs
    The type of company incorporated in the British Virgin Islands is a trading company. These types of companies are very popular as offshore companies due to their tax-free status, ease of administration and flexibility. The main reasons for choosing British Virgin Island Business Company as offshore are:

    No corporate tax
    Company formation in the British Virgin Islands takes approximately 2-5 days
    Shelf companies are available
    The director need not be a resident of or reside in the BVI
    A local office must be maintained
    Board meetings can be held anywhere in the world
    Secretary is optional
    The minimum share capital is EUR 0.73 and the usual number of shares issued is 50,000
    operation of a company
    The annual license fee is to be paid according to the following rules:

    Companies with fewer than 50,001 issued shares pay EUR 260 per year.
    Companies with more than 50,001 issued shares pay the sum of EUR 805 per
    Annual documentation is not required to be submitted to the authorities, but a company must keep reliable accounting records for at least five years. The documentation must be sufficient to determine the precise financial position of the company.

    Control system
    No corporation tax is paid to the BVI authorities in the British Virgin Islands on worldwide profits. The British Virgin Islands have double taxation treaties with Japan and Switzerland, although they have almost no benefit and are not applicable to offshore transactions.

    Company Restrictions
    Companies must not engage in transactions that may relate to the banking or insurance industry. Company shares cannot be sold publicly. Trading in and owning real estate within the BVI is not permitted. For more information on the British Virgin Islands please contact us.

  • Thema von BalticLegal im Forum Dies ist ein Forum in...

    Official Name: Grand Duchy of Luxembourg
    Capital: Luxembourg
    Total area: 2 586 km2
    GDP per capita: $107,206
    Native Language: French, German, Luxembourgish
    Government: Unitary parliamentary constitutional monarchy
    Population: 537,853
    Major Religion: Roman Catholicism
    Monetary Unit: Euro (EUR)

    A small country surrounded by Belgium, France and Germany, the Grand Duchy of Luxembourg has a history that is inseparable from that of its larger neighbours. It mainly consists of hills and forests.

    Luxembourg has been under the control of many states and dynasties throughout its long history, but since the 10th century it has been a separate, if not always autonomous, political entity. Today, Luxembourg is a hereditary grand duchy with a unicameral parliamentary system.

    Luxembourgish, the national language, is related to German. German is the first foreign language for most Luxembourgers and is used in the media. French is the administrative language.

    The economic structure of Luxembourg is mainly based on banks, insurance companies and the steel industry. Agriculture and viticulture are also important.

    Many Luxembourgish specialties are of the kind you would expect to find in a woodland. These include roasted rabbit and Ardennes ham. Trout and pike, freshly caught from the country's rivers, are also regularly on the menu here.

    Luxembourg shares the Moselle valley with Germany and local white wines are well known and popular. Like other Nordic countries, Luxembourg also produces popular beer brands.

    Health and well-being
    A comprehensive program of benefits for all citizens, including free medicines, free prescriptions, provider choice, and other benefits.

    Economy and work
    banks, industry and tourism.

    Main attraction
    Luxembourg, Ardennes, Moselle Valley.

    Luxembourg's stable and profitable market economy is characterized by moderate growth, low inflation and a high degree of innovation. The unemployment rate is traditionally low, although it had risen to 6.1% by May 2012, mainly due to the impact of the 2008 global financial crisis. Consequently, the Luxembourg economy is expected to grow slightly in 2012. According to the IMF, Luxembourg was the second richest country in the world in 2011 with a per capita GDP in Purchasing Power Parity (PPP) of USD 80,119. Luxembourg ranks 13th in the Heritage Foundation's Index of Economic Freedom, 24th in the United Nations Human Development Index and 4th in the Economist Intelligence Unit's Quality of Life Index.

  • State Revenue Service Datum19.12.2022 11:37
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    The duties of the SRS in the implementation of the customs policy are defined in Article 11 of the Law “On the State Revenue Service”. The competence of the customs authorities of the State Revenue Service, in accordance with the law "On the State Revenue Service", includes the following duties:

    customs control of goods and other items, the collection of customs tax and customs duties in respect of these goods, the collection of customs tax, customs duties and the implementation of customs control, as well as the protection of economic borders, are exclusively within the competence of the customs;
    control compliance with regulatory legal acts adopted in the field of customs;
    apply customs tariffs, control compliance with the permit system for the import and export of goods and other items, levy taxes established by the state, customs duties and customs duties, as well as other established duties established by the state, payable at the customs border in accordance with regulatory enactments;
    cooperate with foreign customs authorities when seizing consignments of illegal goods, as well as when importing and exporting conditionally restricted goods;
    submit reports on the activities of customs authorities and statistical data in the manner prescribed by law;
    provide information on customs matters to state institutions, enterprises (economic companies), organizations and individuals;
    training of specialists and advanced training of specialists in customs matters;
    cooperate with law enforcement agencies, state control and public administration bodies, as well as with other institutions on compliance with regulatory legal acts adopted in the field of customs;
    fulfill international obligations assumed by the state in relation to the customs business;
    ensure the management and construction of new border checkpoints;
    investigate smuggling cases.

  • Escrow account in LatviaDatum18.11.2022 13:26
    Thema von BalticLegal im Forum Dies ist ein Forum in...

    Escrow – is a contractual arrangement between transaction parties whereby an independent trusted third party (usually a bank) receives and disburses money or documents on behalf of the transaction parties, with the timing of this disbursement by the third party depending on the fulfillment of the contractually agreed terms of the contracting parties. It is widely used to support sale/purchase transactions such as buying a property, minimizing risk between parties and providing a mechanism that ensures trust and trust.

    The buyer, seller, and bank sign an agreement in which they agree on the necessary documents, terms, and other terms needed to close the deal, as well as all the key milestones along the way. A trustee – the bank – acts as an impartial custodian of the money or documents, keeping the risk of fraud, for example, to a minimum for both parties.

    Although escrow accounts are generally used during a real estate transaction, in practice they can be used in any transaction where there is a desire to reduce the risks for all parties, for example:

    Buying a used car where the money can be released at the end of a warranty period.
    Deposit for renting an apartment where the money is released after the tenant moves out according to the condition of the apartment.
    Provision of construction services where all or part of the money can be released when the construction work is completed to a defined standard or when defined phases (milestones) of the work are completed.

  • Thema von BalticLegal im Forum Dies ist ein Forum in...

    Baltic Legal provides useful advice and quality legal support for obtaining temporary residence permits in Latvia and Lithuania through investments. It is possible to obtain a residence permit for up to 5 years in Latvia and for up to 1 year in Lithuania, which can be renewed at the end of this period. Obtaining a residence permit in a member state of the Shengen Agreement grants its holder the opportunity to travel visa-free within the Shengen area under the same conditions as for citizens of said member state. Latvia and Lithuania are current member states of the Schengen Agreement. Along with the main investor, the residence permit can also be obtained by his spouse and minor children.

    The process of obtaining a residence permit is relatively complicated and requires knowledge of local legal and procedural issues. Our lawyers provide the necessary advice to choose the best type of investment and take care of preparing all the necessary documents and obtaining the residence permit.

    The Latvian Immigration Law provides several ways for foreign investors to obtain a residence permit in Latvia.
    The most common options are:

    Residence permit through investment in real estate, e.g. B. Buying a home. Continue reading
    Residence permit for managing directors, e.g. B. Managing director, managing director, member of the board of directors, authorized signatory
    Residence permit by investing in share capital with shareholder status, e.g. B. Company formation and registration or joining an existing company with significant investments
    Residence permit through investments in subordinated capital of the bank
    Other options (non-investment related):
    Student Visa: The Latvian Immigration Law also provides for a stay for students. Residence permit for students.
    EU Blue Card: If you are highly qualified, you can apply for the Blue Card.
    The Lithuanian Immigration Law provides the possibility to apply for a residence permit for up to 1 year by investing in companies. In order to obtain a temporary residence permit in Lithuania, the investment must meet the following conditions:

    a company has at least EUR 28 000 share capital;
    a company has real economic activities and pays minimum taxes;
    The presence of an investor is necessary for a company to operate.
    Are you still wondering?
    If you are still considering immigration options and wondering how to apply for a residence permit, what the conditions are and how long it takes, visit this website and find all the necessary information in one step!

  • Thema von BalticLegal im Forum Dies ist ein Forum in...

    Ready-made Company, also known as Shell Company, previously formed company, seasoned company or aged company, describes a limited liability company (LLC) or partnership that had no activity, metaphorically put on the shelf to age or how to be an empty shell. As a rule, a complete company is subject to VAT.

    Advantages of the shelf company
    process of business purchase
    Change of company name and/or address
    Recent practice

    Advantages of the shelf company are:
    time saving. The incorporation process takes time, faster registration costs more money due to higher government fees. It's faster to change ownership of an existing business.
    longevity in the company. Some partners or credit institutions may check the registration date before proceeding with the cooperation. Potential customers will trust older companies that could be used for advertising.
    history of your company. Boosts the company's image with age and increases credibility.
    Need a bank loan. It may be easier if you have proof of your inclusion history.
    Baltic Legal provides legal support in the purchase of ready-made companies and offers first-class services and useful advice in related matters.

    Process of business purchase
    The business purchase takes only a few days. Due to the reliability and cooperation with our partners, we are able to arrange a turnkey company for you in one day! Registration with the commercial register takes 4 working days (can be shortened to up to 2 days).

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