Latvia is a jurisdiction that enjoys great economic and political stability, in turn it has a great tourist growth. There is currently a presence of Spanish companies in the country, some of them in the service sector: logistics, travel, languages, food distribution and industrial consulting.
There are great opportunities for medium and small projects, aimed at external markets, with a technological element, which can benefit from their transport network and geographical location between the European Union and Russia, which is favorable for the fiscal field and can be considered as a sufficiently striking factor for investors.
The economy has not returned to pre-crisis levels despite strong growth, especially in the export sector in 2011-14. The IMF, the EU, and other international donors provided substantial financial assistance to Latvia as part of an agreement to defend currency parity with the euro in exchange for the government's commitment to strict austerity measures.

Latvia unites east and west, providing strategic access to both the EU market and those of Russia and Central Asia to the east. Latvia's three ice-free ports are connected to the country's rail and road networks and to the largest international airport in the Baltic region. The road network is connected to the road networks of Europe and Central Asia. Railways connect Latvia with the other Baltic states, Russia and Belarus, with more connections extending to Central Asia and China. Workforce:
Latvia's workforce is highly educated, multilingual and their culture promotes hard work and reliability. Labor costs in Latvia are the 4th lowest in the EU.

The Government of Latvia has established special incentives for investment, both foreign and domestic.
There are four Special Economic Zones (SEZs) in Latvia: The Free Port of Riga, the Free Port of Ventspils, the Special Economic Zone of Liepaja and the Special Economic Zone of Rezekne, which offer various tax benefits to investors.

Latvia's tax system is one of the most flexible in the European Union. The corporate tax rate is one of the lowest. The tax system of the Latvian jurisdiction sets the tax rate on earnings at 15%. Capital gains taxation is applied at the same rate. Microenterprises in Latvia pay taxes at a reduced rate, only 9%.

If you would like more information on how to make companies, investments and bank accounts in Latvia, Foster Swiss can advise you. We help you in practically everything: we provide advice from the moment you choose a corporate structure for your company until even one year after you have formed your company. And of course we take care of the whole process for you.
For more information on this topic or any requirement related to our services, you can contact directly through info@fosterswiss.com