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LEADELL Vītols Law Office welcomes Attorney at Law Māris Paipa to our team of professionals. In his new role, Māris will ensure excellence in the office’s legal performance, focusing particularly on: Personal data protection and compliance with General Data Protection Regulation requirements; Corporate and labor law; Contract preparation and...
Read moreWork disputes are a prevalent issue in both local and international labor markets. Our employment law specialists most frequently provide legal assistance in situations where the cause of the dispute is a breach of contract or workplace regulations, termination or dismissal of employment, or where disagreements often arise from...
Read moreStorm damage and the need to mitigate it is an issue is an issue faced not only by rescue services and those who have suffered physical or material harm in Latvia. It also affects the relationships between employers and employees and is here to stay. What should be done...
Read more1. Registration data of the business partner, information about persons authorized to represent the business partner, and limitations on representation The first step should be to check the company registration status. It is essential to check whether the company even exists. Moreover, checking authorized signatories is essential to identify...
Read more2. Sanctions screening Adherence to international sanctions is crucial for preserving integrity and legality in business transactions. Screening Latvian companies and their stakeholders against reputable sanctions lists helps prevent unwitting involvement in prohibited activities or associations with entities engaged in illicit practices. When beneficial owners and directors of the...
Read more3. Type of commercial activity, turnover, changes in share capital, liabilities, volume of material and technical resources, and average number of employees of the company. Information is available in published annual reports, which can be obtained for a fee using private Latvian Enterprise Register database providers: lursoft.lv and firmas.lv....
Read more4. Tax debts administered by the State Revenue Service for the business partner. Unpaid tax debts can indicate potential financial instability and can lead to suspension or termination of business activities. Latest information can be obtained at https://www.vid.gov.lv/lv/nodoklu-paradnieki (available only in Latvian*) 8 Steps for Trusting a New Business...
Read more5. Bankruptcy proceedings and status, including historical information about terminated proceedings. Companies can undergo suspension or termination by either the tax authority or the commercial register office under various circumstances. In the event of activity termination, the Latvian company undergoes liquidation proceedings. It is prohibited by law for any...
Read more6. Licenses and Permits If the company’s operations involve excise goods such as alcohol, tobacco products, or petroleum, it’s prudent to verify any licenses held by the company. It’s crucial to check if a company has the right licenses to avoid potential legal issues and keep all operations running...
Read more7. Information on payments made by businesses to the state budget This includes information on the total amount of taxes paid by taxpayers (businesses) to the State Revenue Service in the previous years, including the total amount of personal income tax and mandatory state social insurance contributions, as well...
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