= Doing Business reform making it easier to do business.
= Doing Business reform making it more difficult to do business.
DB2012:
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.
Registering Property:
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.
Resolving Insolvency:
Latvia adopted a new insolvency law that streamlines and expedites the insolvency process and introduces a reorganization option for companies.
Getting Electricity:
Latvia made getting electricity faster by introducing a simplified process for approval of external connection designs.
DB2011:
Trading Across Borders:
Latvia reduced the time to export and import by introducing electronic submission of customs declarations.
Resolving Insolvency:
Latvia introduced a mechanism for out-of-court settlement of insolvencies to alleviate pressure on courts and tightened some procedural deadlines.
DB2010:
Registering Property:
Registering property is easier due to simplified procedures, including allowing payment of registration fees and stamp duties at the land registry.
Getting Credit:
The new public credit registry started sharing data on loans, improving access to credit information.
DB2009:
Registering Property:
The State Land Service sped the registration of property by introducing an online database that allows registry employees to check the cadastral value of the real estate. That reduced the number of procedures and the total time to register property.
Resolving Insolvency:
A new insolvency law made it possible for the first time for financially distressed companies to continue operating by pursuing reorganization. The reform also tightened the qualification standards for bankruptcy administrators.