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Latvia

At a glance

  • Capital

    Riga

  • Currency

    Euro (€, EUR)

  • Official Languages

    Latvian (official language)

  • Population Size

    1,842,226 (2022)

  • Ease of doing business

    Very Easy

  • VAT

    0.21

About

Latvia, a dynamic Baltic nation, has emerged as a growing hub for tourism and business alike. Its capital city, Riga, is especially popular due to affordable air travel within Europe and low living costs, including competitively priced food and accommodation.

Since regaining independence from the Soviet Union, Latvia has rapidly integrated into the international community, becoming a member of NATO and the European Union less than a decade later. These developments have contributed to a stable regulatory environment—ideal for companies considering how to expand business internationally.

With its strategic location and cost-effective workforce, Latvia offers excellent opportunities for companies employing staff overseas, managing international payroll, or looking for global HR consultancy.

Mauve Group has its own local entity in Latvia, and is ready to support your business through our comprehensive range of in-country services, including Employer of Record (EOR) solutions, global payroll, and global compliance services.