Doing Business in Latvia - World Bank Group

Region	Europe & Central Asia
Income Category	High income
Population	1,990,351
GNI Per Capita (US$)	15,660
City covered	Riga

Doing Business 2016 Rank	Doing Business 2015 Rank X DOING BUSINESS 2015 RANK Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.	Change in Rank
22	22	0

Doing Business 2016 DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...	Doing Business 2015 DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...	Change in DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...
78.06	77.51	0.55

Topics	DB 2016 Rank	DB 2015 Rank	Change in Rank
Starting a Business	27	36	9
Dealing with Construction Permits	30	24	-6
Getting Electricity	65	62	-3
Registering Property	23	30	7
Getting Credit	19	17	-2
Protecting Minority Investors	49	46	-3
Paying Taxes	27	24	-3
Trading Across Borders	22	22	No change
Enforcing Contracts	25	35	10
Resolving Insolvency	43	39	-4

Topics	DB 2016 DTF (% points)	DB 2015 DTF (% points)	Change in DTF (% points)
Starting a Business	94.15	92.12	2.03
Dealing with Construction Permits	77.64	78.78	-1.14
Getting Electricity	75.87	75.83	0.04
Registering Property	81.87	79.66	2.21
Getting Credit	75.00	75.00	No change
Protecting Minority Investors	60.00	60.00	No change
Paying Taxes	85.76	86.17	-0.41
Trading Across Borders	95.26	95.26	No change
Enforcing Contracts	71.66	68.88	2.78
Resolving Insolvency	63.39	63.42	-0.03

Starting a Business

The steps of launching a business are shown below. Included are: the number of procedures entrepreneurs can expect to go through to start up and formally operate an industrial or commercial business, as well as the time and cost to complete these procedures and the paid-in minimum capital requirement as a percentage of gross national income (GNI) per capita.

DB 2016 Rank	27	DB 2015 Rank X DOING BUSINESS 2015 RANK Last year's rankings are adjusted. They are based on 10 topics and reflect data corrections.	36	Change in Rank	9

DB 2016 DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...	94.15	DB 2015 DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...	92.12	Change in DTF (% points) X DISTANCE TO FRONTIER SCORE The distance to frontier score shows how far on average an economy is at a point in time from the best performance achieved by any economy on each Doing Business indicator since 2005 or the third year in which data for the indicator were collected. The measure is normalized to range between 0 and 100, with 100 representing the frontier. Read more...	2.03

Information on new business density and number of newly created firms with limited liability can be found at Entrepreneurship Database.

Indicator	Latvia	Europe & Central Asia	OECD high income
Procedures (number) X Procedures (number) The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries). View methodology	4	4.7	4.7
Time (days) X Time (days) The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments. View methodology	5.5	10.0	8.3
Cost (% of income per capita) X Cost (% of income per capita) Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law. View methodology	1.5	4.8	3.2
Paid-in min. capital (% of income per capita) X Paid-in min. capital (% of income per capita) The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita. View methodology	0.0	3.8	9.6

	Procedure	Time to Complete	Associated Costs
1	Complete signatories’ cards and companies deeds, certify cards by a notary	1 day	EUR 26
2	Open a bank account and get a receipt of reference from the bank	1 day	EUR 10
3	Register at the Commercial Registry and register with State Revenue Service (tax authority) for VAT	3 days	The 3 working days registration costs EUR 142.29 and within 1 working day EUR 426.87
4	Register employees for mandatory state social insurance contribution with the State Revenue Service	Less than one day (online procedure)	no charge

Ease of Doing Business in
Latvia

Economy Overview

DOING BUSINESS 2015 RANK

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

Doing Business Resources

Economy Profile

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Law Library

Contributors

Additional Topic

Additional Data

Related Websites

Starting a Business

Starting a Business

DOING BUSINESS 2015 RANK

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

Procedures (number)

Time (days)

Cost (% of income per capita)

Paid-in min. capital (% of income per capita)

Explore Economy Data

Ease of Doing Business in Latvia

Economy Overview

DOING BUSINESS 2015 RANK

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

Doing Business Resources

Economy Profile

Get all Data

Law Library

Contributors

Additional Topic

Additional Data

Related Websites

Starting a Business

Starting a Business

DOING BUSINESS 2015 RANK

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

DISTANCE TO FRONTIER SCORE

Procedures (number)

Time (days)

Cost (% of income per capita)

Paid-in min. capital (% of income per capita)

Explore Economy Data

Ease of Doing Business in
Latvia