Business Reforms in Latvia

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

DB2013:

Employing Workers:

Latvia eliminated notification requirements to third parties in cases of redundancy dismissal.


DB2012:

Positive 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.


Positive 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.


Positive Resolving Insolvency:

Latvia adopted a new insolvency law that streamlines and expedites the insolvency process and introduces a reorganization option for companies.


Positive Getting Electricity:

Latvia made getting electricity faster by introducing a simplified process for approval of external connection designs.


DB2011:

Positive Trading Across Borders:

Latvia reduced the time to export and import by introducing electronic submission of customs declarations.


Positive Resolving Insolvency:

Latvia introduced a mechanism for out-of-court settlement of insolvencies to alleviate pressure on courts and tightened some procedural deadlines.


DB2010:

Positive Getting Credit:

Latvia’s new public credit registry started sharing data on loans thus improving access to credit information.


DB2009:

Positive Registering Property:

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.


Positive Resolving Insolvency:

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.


Reform Summaries


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