About Latvia

Latvia is Member of EU since 2004 , Member of the WTO since 1999, member of EUR zone from 2014.,  located on the Eastern coast of the Baltic Sea (North Europe), bordering with Russia to the east. For centuries the geographic location has determined Latvia to be a gateway for international commerce. Population - 2,23 million. Capital-Riga

 


Latvia has a unique geographical and cultural position, providing a strategic location for business operations targeting developed economies of the EU and emerging markets of eastern neighbors. Latvia is a natural gateway between the US, EU and Asia (especially Russia/CIS).

Advanced transport infrastructure: Located on the Baltic Sea, Latvia has three major, international ports—Riga, Liepaja and Ventspils ice-free, —that are closely linked into the country’s land-based infrastructure, including an extensive rail, road and pipeline system. The largest airport in the Baltics is Riga International Airport—with over 70 international direct destinations, it serves almost two-thirds of all flights in the region.

Free trade: Latvia’s external trade and customs policy is based on free trade principles. Latvia is an EU country, a member of Schengen and an active participant of the World Trade Organization, enjoying all the benefits of free and open trade in the world’s markets. Customs and border procedures have been standardized for effective planning and coordination with trade partners around the world

 

Macroeconomic security

In the wake of the economic crisis of 2008, Latvia has implemented several pro-business reforms and focused policy on being a true partner for investors. The government successfully implemented difficult measures that led the country out of the crisis and include: laid the groundwork for sustained growth (GDP in 2012 year increased about 5,6%). According to exchange rate between EUR and CNY, then it is 1 EUR = 8.2708 CNY 

Protection of investments: Latvia has bilateral agreements with over 40 countries for the promotion and mutual protection of investments. The agreements grant safety and protection to investments made in real estate, intellectual property, shares or any other form of investment.

WTO: Latvia’s external trade and customs policy is based on free trade principles. It is an active participant of the World Trade Organization , enjoying all the benefits of free and open trade in the world’s markets.

Eurozone: Latvia is on track to join the Euro in 2014, enabling more advantageous interest rates and further improving the investment environment.

Central bank stability: Latvia’s central bank, the Bank of Latvia , is a participant in the European System of Central Banks, cooperating with other institutions of the EU and creating a secure and favorable environment for business and investment.

Political and legal stability

Latvia is a democratic republic that abides by the rule of law. It is fully integrated into the European Union, applying EU laws and regulations within its legal system. This stability includes:

Lawful treatment of foreign investors: By law, investors from other countries have the same rights and duties as local investors. Any foreign investor may be sole founder and owner of a company. International companies registered in Latvia are entitled to buy land ( without agrocultural land ) and property. Foreign investors (as individual persons) can be provided temporary residence permits.

Intelectual property protection: Latvia has all the same intellectual property (IP) rights and protection demands applicable as any other EU member state. Latvia is not on the Special 301 Report , indicating that Latvia provides effective protection of IP rights as assessed by the Office of the United States Trade Representative.

Schengen: Latvia is a member of the Schengen zone, which allows passport-free travel across most of Europe.