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6. Licenses and Permits | 8 Step Guide
6. 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 smoothly. If required licenses are not obtained, it may indicate a lack of adherence to regulatory requirements and raise questions about the company’s legitimacy and reliability as a business partner.
Information on what types of licenses a company holds can be obtained at https://www.vid.gov.lv/lv/specialas-atlaujas-licences-komercdarbibai-ar-akcizes-precem (available only in Latvian*)
8 Steps for Trusting a New Business Partner from Latvia | Cross Border Deals
By obtaining publicly available information in this manner a company can make better-informed decisions and avoid potential risks. Checking registrations, evaluating financial stability, and even doing a quick online search can infuse further confidence in the transaction’s and business partner’s integrity and suitability. Switching to English on websites of state institutions might limit access to the same comprehensive databases available in Latvian, resulting in less information and poorer functionality.
What to do in case of uncertainties?
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