Significant changes every existing company has to make after the EURO introduction

Registered equity, Articles of Association, the Shareholders Register and the Register of Enterprises after the introduction of Euro in Latvia

There are two parallel processes which every company has to consider and to finalise after the introduction of the EUR.  A new form of shareholders register as a ”Division of the Register of Shareholders” is stipulated, which has to be submitted to the Register of Enterprises untill the 30th of June 2015

The other process is, of course, Latvia`s changeover to the Euro, which requires a company`s registered equity to be expressed in EUR in the Articles of Association and it`s Division of the Register of Shareholders. This change for existing companies is possible starting from the 1st of January 2014 and has to be done until the 30th of June 2016.   It has been possible to register the shareholder`s capital in EUR already from 9th of July 2013 and it is advised to do so for all new registrations during the rest of 2013 in order to avoid reregisterings after the EUR has been introduced. When establishing new companies after the 1st of January 2014, the company`s registered equity is to be expressed only in EUR and the minimum total equity is EUR 2800 for a LLC and EUR 35000 for an AS.

It is recommended to perform these two activities simultaneously. There are, however, situations in which they can be separated. Anyway the Register of Enterprises will not accept notifications of changes without the simultaneous change of the values of equity capital to the Euro after the 1st of July 2014.     

Leinonen Latvia would be happy to help you in performing any of the above mentioned changes.

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