Latvian law is a part of a legal system of Latvia. It is largely civil, as opposed to a common, law system, based on epitomes in the German and French systems. The Latvian legal system is grounded on the principles laid out in the Constitution of the Republic of Latvia and safeguarded by the Constitutional Court of the Republic of Latvia.
Formation of Limited Liability Company in Latvia:
Package includes the following set of corporate documents:
– Nominee Directors:
The appointment of nominee directors has to do with people who will be managing the company, considering any kind of business.
– Nominee Shareholders:
Nominee Shareholders will be holding the Company’s shared documents for the avail of the clients.
-General Power of Attorney:
It is issued by the administrator for the benefit of the clients and it is valid for 12 months.
A General Power of Attorney grants the client with broad powers, represents and acts for the Company before third parties, institutions and authorities.
-Special Power of Attorney:
It is emerged by the director for the benefit of the clients, which is valid for 12 months.
A Special Power of Attorney, also known as Limited Power of Attorney, grants the client with particular authority to represent and act the Company for particular matter. For instance, it is useful for the opening of a bank account.