The Joint stock company in Latvia is an open commercial company, the authorized capital of which consists of nominal values of shares (contributions of shareholders). The company is a legal entity. Shares may be subject to public trading.
The owners of the shares (stockholders)
Similarly as owners of shares of PLC/LLC, the owners of shares of the Joint stock company may be legal entities and individuals. Minimum number - one. The maximum number of shareholders is unlimited. Foreign individuals and legal entities also can be shareholders (but be due to certain activities there may the nuances). The rights of shareholders depends on the category of shares. Shareholders (shareholders' meeting) to decide on the appointment of the council, the distribution of profit, appointment of remuneration for board of directors and council.
The authorized capital of JSC
The minimum amount of capital - 35 000 euro (until 31 December 2013, - 25 000 lats). Before the registration of joint stock company the sum of paid up capital shall be not less than the minimum share capital (i.e. 35 000 euro). But for certain types of activities the minimum share capital much higher (for example, for life insurance companies).
Requirements to the legal address are the same for all types of merchants. Legal address must be in Latvia.
Board of members of directors (valde)
The Board is the operational management institution of the company. The minimum number of members of board of directors - one individual (natural person). However, if the shares are in public circulation, then the minimum number of members of board of directors - three individuals.
The Council is a supervisory institution of the company and also represents the interests of shareholders in the interval between meetings of shareholders. The Council appoints the member of board of directors and oversees (supervises) the work of the board. The council must consist from not less than three individuals (if the shares are in public circulation, then the minimum number - five individuals). The maximum number of members of council - 20.
Major (more common) requirements with respect to the name: in the name must be used only Latin and Latvian letters, as well - the name must differ from the names already registered.
Documents received after the registration
Certificate of registration, Articles of association (approved by the state notary) and a decision of the state notary of the Register of Enterprises. All documents are in the Latvian language.
Information required for the preparation of documents for registration
Name of the Joint stock company
Commercial Activities of the Joint stock company
Amount of the equity capital of JSC, way and terms of payment
Information on the categories of shares (if more than one category)
Information about shareholders (first name, surname, place of residence, date of birth, passport data)
Information about members of the board of directors and council of JSC
Procedure of registration
Obtaining of the necessary information
Preparation of documents for registration
Preparatory actions (payment of capital) and the signing of documents
Payment of registration fees
Filling in the Register of Enterprises of the Republic of Latvia
Receiving of the reviewed documents.
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