LLC's offer great flexibility towards taxation, as in most cases the tax that is most suitable can be chosen for the business in which the company is involved in.
Friday, 13 June 2014
Limited liability companies
This post is going to be about the various different types and names that is of limited liability companies (LLC). LLC's are companies that are owned by shareholders and are very similar to JSC, the difference from most JSC is that the shareholder's liability is limited to the amount of the investment in the company on the event of company liquidation. Often regarded as hybrid companies as they hold both charistics of corporations and partnerships.
LLC's offer great flexibility towards taxation, as in most cases the tax that is most suitable can be chosen for the business in which the company is involved in.
LLC's in Latvia are called SIA(In Latvian language - "Sabiedriba ar ierobezotu atbildibu"). If you want assistance with a LLC company incorporation in Latvia you may go to Baltic Legal, they both provide assistance with company incorporation and there are pre made or ready made companies available for purchase.
LLC's in Estonia are called osaühing (OÜ). Since 2011 it is possible to incorporate a company in Estonia and pay the share capital afterwards. The minimum share capital for LLC is 2500EUR. In order to maintain a company registered in Estonia at least 50% of the board must be local citizens.
LLC's in Lithuania are called UAB and AB (Private LLC and public LLC)
LLC's in Romania are called societate cu răspundere limitată (S.R.L.), the owners are personally liable for the company obligations within the limit of their contribution to social capital. The minimum start capital is less than €50.
LLC's offer great flexibility towards taxation, as in most cases the tax that is most suitable can be chosen for the business in which the company is involved in.
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