For any online casino seeking to operate in the European Union, registering a Latvia offshore company is one of the best options to consider. As the offshore jurisdiction, Latvia is a reliable partner and a great mediator with the European Union. Even a beginning entrepreneur can find a safety net here, while more experienced business owners will appreciate the great benefits this state offers for foreign companies.
Offshore company in Latvia: pros and cons
Latvia is very loyal towards online gambling businesses. In particular, the gambling companies in Latvia can enjoy benefits such as:
- liberal tax policy
- easy and quick company setup
- permission to open business subsidiaries in Latvia and any other EU member states
- permission to open an offshore account in Latvia’s banks
- permission to receive bets from players located in any EU member state
- a reputation of a legal and reputable enterprise
There are, however, some drawbacks as well. An offshore company registered in Latvia is required to maintain its financial reporting and submit it to the fiscal authorities in order to pay income tax. This is something that other offshore jurisdictions don’t usually require. Still, if you aim at expanding your business reach on the territory of the European Union, it’s a fair price to pay.