= Doing Business reform making it easier to do business. = Doing Business reform making it more difficult to do business.
Latvia eliminated notification requirements to third parties in cases of redundancy dismissal.
Starting a Business:
Latvia made starting a business easier by reducing the minimum capital requirement and introducing a common application for value added tax and company registration.
Latvia made transferring property easier by allowing electronic access to municipal tax databases that show the tax status of property, eliminating the requirement to obtain this information in paper format.
Latvia adopted a new insolvency law that streamlines and expedites the insolvency process and introduces a reorganization option for companies.
Latvia made getting electricity faster by introducing a simplified process for approval of external connection designs.
Trading Across Borders:
Latvia reduced the time to export and import by introducing electronic submission of customs declarations.
Latvia introduced a mechanism for out-of-court settlement of insolvencies to alleviate pressure on courts and tightened some procedural deadlines.
Latvia’s new public credit registry started sharing data on loans thus improving access to credit information.
The State Land Service introduced an online database allowing the employees of the registry to check the cadastral value of the real estate, which decreased number of procedures and time.
Latvia passed a new insolvency law which allows for the first time financially distressed companies to continue operating by pursuing reorganization. The reform also strengthened the qualification standards for bankruptcy administrators.