Please note important changes in AML Law of Latvia.

As of December 1st 2017 all Latvian legal entities must declare Ultimate Beneficial Owner at the Register of Enterprises of Latvia. 

The new regulations concern basically any type of legal entity: limited companies, joint stocks, partnerships, organizations, etc.

According to the Latvian Law, an Ultimate Beneficial Owner is a private person, who owns in direct or indirect way over 25% of shares, interests or voting rights and/or has significant influence over the company.

Each legal entity in Latvia must submit to the Register of Enterprises a Declaration with the following data:

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• Name and last name

• Personal code for Latvian residents

• Date of birth and passport date for non-residents

• Citizenship

• Country of residence

• In what way the UBO has significant control over the company (if through another legal entity, then specify its name, registration number and registered office)

 

The UBO Declaration must be submitted to the Register of Enterprises from December 1st 2017 until March 1st 2018.

Information on UBO will become accessible to any third person upon request from April 1st 2018.