This year, 4,995 companies were registered, but 6,306 were liquidated

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“Lursoft” has researched that new companies were registered in forty Latvian municipalities in July. As usual, almost half of all new companies registered their legal address in Riga. It follows the capital in terms of the number of new companies Mārupes county (28 new companies), Ogre region (21 new companies) and Daugavpils (20 new companies). Looking at the activity of registering new companies by region, after Riga and Pieriga (106 new companies), Vidzeme follows with 88 companies registered in the past month, while in July there were the least number of companies in Latgale – 36 newly registered companies, of which 31 were limited liability companies. Their total share capital – 36.48 thousand. EUR.

It should be noted that only a third of all limited liability companies registered in Latgale last month had a share capital of 2,800 euros. A similar share of small-capital SIA was also registered in the country as a whole, because of the new limited liability companies registered in July, in 63.8% of cases the share capital of the new capital companies did not reach 2,800 euros. Among them is SIA “MK Markets” registered in Saldus, whose share capital is only 1 cent.

The information available to “Lursoft” shows that the owner and at the same time the only official of this company is Māris Štegmanis. The young entrepreneur has not previously owned capital shares in other companies, nor has he held positions on the boards or councils of other companies.

The largest company registered in the month of July is the state capital company SIA “Latvijas vēja parki”, where 80% is owned by AS “Latvenergo“, and the remaining 20% ​​– AS “Latvian state forests“. The share capital of the newly registered company is EUR 2 million. The press release of AS “Latvenergo” states that the general strategic goal of the joint venture is to implement strategically important wind farm projects with a total capacity of at least 800 MW in order to achieve the Latvian National Energy and Climate Plan 2021-2030 .goals and would continue to move towards achieving climate neutrality, contributing to the provision of energy independence.

The creation of wind farms corresponds to the objectives of the new strategy period of JSC “Latvenergo” – to double the power generation capacity of the “Latvenergo” concern by 2030. Ilvija Boreiko, Director of Development of Wind and Solar Parks of AS “Latvenergo”, was appointed as the chairman of the board of SIA “Latvijas vēja parki”, while Zane Norenberga, the leading expert of competition law of AS “Latvijas valsts meži”, was appointed as a member of the board. The legal address of SIA “Latvijas vēja parki” is registered at Pulkveža Brieža street 12, Riga, where the main office of AS “Latvenergo” is also registered.

“Lursoft” research reveals that out of the TOP 10 largest companies registered in July, four are registered outside of Riga. One of them is the second largest company registered last month, SIA “Tērvetes 33”. Agris Gāzners is the sole owner and manager of the company registered in Jelgava. The information available at Lursoft shows that SIA “Tērvetes 33” was created by separating a part of the wholesale company SIA “HERKO” owned by Agrim Gāzner. Last year, SIA “HERKO”, which was registered nine years ago, had a turnover of 74.63 thousand. EUR and earned 31.32 thousand. EUR. The share capital of the newly established SIA “Tērvetes 33” is 1.125 million. EUR.

The share capital exceeding 1 million Another company registered in July – SIA “AT HOLDING” has EUR limits. The Toropov family registered SIA “AT HOLDING” on July 5, and already on July 7 the newly registered company became the holder of the new capital shares of SIA “ELEKTRONIKA-SERVISS” owned by the Toropov family. SIA “ELEKTRONIKA-SERVISS”, a home appliance repair service provider founded 30 years ago, increased its turnover to 4.7 million in 2021. EUR, and its profit after tax was 52 thousand. EUR. Lursoft’s available information shows that SIA “ELEKTRONIKA-SERVISS”, on the other hand, is a shareholder in two companies – SIA “ServiceNet LV” and SIA “Baltic Service Network”.

Among the TOP 10 largest companies registered in July, there are three capital companies whose capital shares are held by foreigners. They are SIA “Damstahl” (Denmark), SIA “Waypoint” (Poland) and SIA “Puumerkki” (Finland). SIA “Damstahl” is registered in Liepāja, and its share capital is 500 thousand. EUR. The shareholder of the company is the Danish company “Damstahl”, well-known in the stainless steel industry. Statistics collected by Lursoft reveal that Danes invested a total of 26.29 million in the capital of companies registered in Liepāja. EUR. Individuals from Sweden (EUR 43.1 million) and Cyprus (EUR 32.15 million) made even larger investments. The total amount of foreign investments in the registered capital of companies registered in Liepāja currently amounts to 137.06 million. EUR. A total of three foreign capital companies were registered in Liepāja in July. In addition to SIA “Damstahl”, investments from Denmark were also attracted to the newly registered SIA “DSE Latvia 1 Solar”, while SIA “Liepāja Metalurgs” registered by Yuliia Haran from Ukraine. The legal address of SIA “Liepājas Metalurgs” is located at Brīvības street 93, Liepāja, where JSC “KVV Liepājas metalurgs” is also still registered.

Foreign capital was registered for 115 new companies in July. Out of them, in 37 cases, the shareholder already owned shares in Latvian companies. In general, of all the companies registered in July, the shareholder of almost half (47.68%) was previously a participant in other Latvian companies.

“Lursoft” has calculated that the total share capital of companies registered in July was higher, despite the fact that the number of new companies registered was lower than in June. It reached 7.9 million. EUR. This is the second highest total share capital of companies registered within the month this year. Compared to the index of July last year, the total capital of companies registered in July this year was 45.25% lower.

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