Latvia is European Union (EU) member state since 2004 and is a well-known EU jurisdiction. With the 2013 changes and amendments in the Law on Enterprise Income Tax Latvia has become a key element for successful business establishment worldwide, and more particularly very attractive jurisdiction for Holding Company establishment, as income form subsidiaries is no longer taxed. Latvia can actually be considered an offshore, if looked at from an Eastern perspective.
Many clients often enquire and ask if it is possible to buy “off the shelf” company and don’t always know which type of company they really need. I thought I could write this blog explaining approved name companies, shelf companies and aged companies, to help you understand the differences.
International foundations were introduced approximately 100 years ago, first in Western Europe, when in 1926 the Principality of Liechtenstein created the “Law of Persons & Companies”. International foundations are the type of product that is found mostly in civil law jurisdictions as an alternative to common law jurisdiction trusts. Nevertheless many common law jurisdictions have accommodated foundations laws into their offshore legislation as well, for the reason that foundation formation is rapidly becoming very popular vehicle for asset protection and other purposes.
Effective Monday, 8 December, Certificates of Good Standing produced by the Registry of Corporate Affairs can be issued electronically for companies and limited partnerships.
On 28, 29 October 2014, more than 300 delegates form 101 jurisdiction and 14 international organizations and regional groups came together in Berlin for the 7th "Global Forum", 1 during which on 29 October 2014 , 51 jurisdictions signed the first ever multilateral competent authority agreement (MCAA) to automatically exchange information, committing to implement the new standard on Automatic Exchange of Information (AEOI) 2 by 2017 or 2018.
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