Ease of Doing Business in


Latvia Download Profile (1740.9KB, pdf)
Region Europe & Central Asia
Income Category High income
Population 1,978,440
GNI Per Capita (US$) 14,900
City covered Riga



DB 2017 Rank



DB 2017 DTF (% points)

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Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 14 17 up
80.61 79.14 down
Starting a Business 22 20 down
94.15 94.15
Dealing with Construction Permits 23 20 down
78.93 78.94 down
Getting Electricity 42 57 up
82.14 78.99 up
Registering Property 23 23
81.87 81.87
Getting Credit 7 19 up
85.00 75.00 up
Protecting Minority Investors 42 40 down
63.33 63.33
Paying Taxes 15 16 up
89.79 88.84 up
Trading across Borders 25 25
95.26 95.26
Enforcing Contracts 23 23
71.66 71.66
Resolving Insolvency 44 43 down
63.95 63.39 up

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

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DB 2017 Rank:


DB 2016 Rank:


Change in Rank:


DB 2017 DTF (% points):


DB 2016 DTF (% points):


Change in DTF (% points):


Indicator Latvia Europe & Central Asia OECD high income
Strength of legal rights index (0-12) info_outline 9 6.4 6.0
Depth of credit information index (0-8) info_outline 8 6.4 6.5
Credit registry coverage (% of adults) info_outline 84.9 23.0 12.1
Credit bureau coverage (% of adults) info_outline 63.2 40.3 67.1
Strength of legal rights index (0-12)  
Does an integrated or unified legal framework for secured transactions that extends to the creation, publicity and enforcement of functional equivalents to security interests in movable assets exist in the economy? No
Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without requiring a specific description of collateral? Yes
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a specific description of collateral? Yes
May a security right extend to future or after-acquired assets, and may it extend automatically to the products, proceeds or replacements of the original assets? Yes
Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and obligations be secured between parties; and can the collateral agreement include a maximum amount for which the assets are encumbered? Yes
Is a collateral registry in operation for both incorporated and non-incorporated entities, that is unified geographically and by asset type, with an electronic database indexed by debtor's name? Yes
Does a notice-based collateral registry exist in which all functional equivalents can be registered? No
Does a modern collateral registry exist in which registrations, amendments, cancellations and searches can be performed online by any interested third party? No
Are secured creditors paid first (i.e. before tax claims and employee claims) when a debtor defaults outside an insolvency procedure? Yes
Are secured creditors paid first (i.e. before tax claims and employee claims) when a business is liquidated? Yes
Are secured creditors subject to an automatic stay on enforcement when a debtor enters a court-supervised reorganization procedure? Does the law protect secured creditors’ rights by providing clear grounds for relief from the stay and/or sets a time limit for it? Yes
Does the law allow parties to agree on out of court enforcement at the time a security interest is created? Does the law allow the secured creditor to sell the collateral through public auction and private tender, as well as, for the secured creditor to keep the asset in satisfaction of the debt? Yes
Score (number of "yes" responses) 9
Depth of credit information index (0-8) Credit bureau Credit registry Score
Are data on both firms and individuals distributed? Yes Yes 1
Are both positive and negative credit data distributed? Yes Yes 1
Are data from retailers or utility companies - in addition to data from banks and financial institutions - distributed? Yes No 1
Are at least 2 years of historical data distributed? (Credit bureaus and registries that erase data on defaults as soon as they are repaid or distribute negative information more than 10 years after defaults are repaid receive a score of 0 for this component.) Yes Yes 1
Are data on loan amounts below 1% of income per capita distributed? Yes Yes 1
By law, do borrowers have the right to access their data in the credit bureau or credit registry? Yes Yes 1
Can banks and financial institutions access borrowers’ credit information online (for example, through an online platform, a system-to-system connection or both)? Yes Yes 1
Are bureau or registry credit scores offered as a value-added service to help banks and financial institutions assess the creditworthiness of borrowers? Yes No 1
Score ("yes" to either public bureau or private registry) 8
Coverage Credit bureau Credit registry
Number of individuals 786,317 1,031,027
Number of firms 35,755 72,932
Total 822,072 1,103,959
Percentage of adult population 63.2 84.9