In September, 803 new companies were registered in Latvia, and this is the largest number of new companies registered in a month this year, according to data collected by “Lursoft”.
Along with the increase in the number of companies, their total share capital has also increased, reaching the highest figure of 2022.
Although new company registration activity increased in September, information gathered by “Lursoft” reveals that there were 7.4% fewer new companies in Latvia in the first nine months of this year than in the corresponding period. last year, while compared to the period from January to the end of September 2020, the number of new businesses this year is 4% less, despite the spring of 2020, due to the increase in containment measures from the Covid pandemic -19, the number of new companies decreased significantly.
The total share capital of the new companies registered in the first nine months of this year reaches € 58.44 million, of which € 13.88 million represents the share capital of the companies registered in September.
Of the new companies registered last month, the absolute majority are limited liability companies (699), 89 sole proprietorships, six branches of foreign traders, five agricultural companies, three general partnerships and one joint stock company were also registered in September .
In September, new companies were registered in all Latvian municipalities, almost half in Riga. Outside the capital and Pieriga, the largest number of new companies last month was in Vidzeme, while the smallest was in Zemgale. , where only 55 new companies were registered in the month.
Looking at the distribution by municipalities, more than 20 new companies were registered in September in six municipalities: Riga (387), Liepāja (24), as well as Mārupe county (24), Cēsu county (23), Daugavpils (22 ) and Orc County (21).
The majority, or 62.5%, of all limited liability companies registered in September are small-capital, i.e. their share capital does not reach € 2,800.
Although most of all new companies were registered in Riga last month, the largest company in September is located in Otaņki parish in the southern Kurzeme district. The share and paid-up capital of SIA “RR Baltic Holding”, registered by Ričardas Riepš, is five million euros.
A few days after the registration of “RR Baltic Holding”, the newly registered company became the owner of SIA “Otaņķu dzirnavnieks” and SIA “Otanki Farming”. Previously, Riepšs was the largest shareholder of the two aforementioned companies.
The data available to “Lursoft” show that “Otanki Farming” increased its turnover to € 231,460 in 2021, but its after-tax profit reached € 37,060. Although the annual report of “Otaņķu dzirnavnieks” for 2021 is not yet available, data from the “Lursoft” Multi report shows that the company’s turnover has grown annually so far, reaching 16.9 million euros in 2020, while the its profit after installments increased to 1.15 million euros. In recent years, the number of employees of “Otaņķu zirnavnieks” has exceeded 100 employees.
Outside the capital is also the second largest company registered in September. It is SIA “JK Baltezers estate” belonging to businessman Jūlijas Krūmiņas, who registered his legal address in Jurmala. The “Lursoft” information shows that the company’s share capital is 2.12 million euros. A total of 19 companies are currently registered at the legal address of “JK Baltezers estate” in Turaidas street 19, Jurmala. The real beneficiary of almost all these companies is Krūmiņš along with Maija Krieviņa, but in some companies Krieviņa is the only real beneficiary. Krievina was also named the only board member of the newly registered “estate of JK Baltezers”. Krūmiņas has the status of beneficial owner currently registered in 17 companies.
“Lursoft” studied that among all the companies registered in September, similar to “JK Baltezers estate” and “RR Baltic Holding”, in 48% of cases their owner already owned shares in Latvian companies.
The third company registered in September in terms of share capital is SIA “Univer”. The partner of the company registered on the last day of September is SIA “Universitātes kvartāls”, operating in the construction / real estate sector, while the real beneficiaries are Ināra Grāvīte, as well as two Russian businessmen – Levs Hutoyanskis and Timofeys Leontjevs.
“Lursoft” investigated whether Hutorjanskis is the real beneficiary in four Latvian companies, while Leontjevs – in nine. The largest is SIA “Lielā 13”, registered in Liepāja, which in 2021 had a turnover of 1.2 million euros, but the year ended with a loss of 65,000 euros. The aforementioned company manages the “Kurzeme” shopping center in Liepāja.
“Lursoft” states that the registered office of “Univer”, whose share capital is € 1.78 million, is registered in Katoļu Street 9 k-1-12, Riga. A company is also located at this address. operating in the field of plastering works.
Among the companies registered in September with share capital exceeding € 1 million, there are also SIA “Mena 1” (€ 1.5 million) and SIA “Draugiem Capital I” (€ 1.17 million). The latter has already become co-owner of SIA “Prime Prometics” operating in the wholesale sector.
AS “A1 Investment”, the only joint stock company registered in September, ranks 10th among all companies by share capital. “Lursoft” investigated whether people from China have been named to his board and council. The permanent residence of the beneficial owner of the company is also located in China.
Foreign capital in the first tier of participants is registered in 15% of all new companies in September.
