Latvia SIA

SIA is a legal entity within the territory of Latvia, with the full name Sabiedrība ar ierobežotu atbildību. The ownership of SIA is consolidative, and it is a limited liability entity. SIA does not publicly participate in the market, and it requires at least one shareholder and at least one director. SIA does not need to appoint a legal representative, and its board members need not be Latvian residents. Additionally, SIA does not require a company secretary. The standard minimum registered capital for SIA is 2,800 euros (a reduced-capital SIA may have less while the Commercial Law's conditions are met), and it does not require verification of the capital. Overall, SIA is a relatively simple legal entity, suitable for use by small businesses or individual entrepreneurs.