Business registrations down slightly so far this year

In the first five months of this year, a total of 4,028 new companies were registered in Latvia, which is 1.1 percent less or 45 companies fewer than in the corresponding period of 2023, according to data compiled by Lursoft, reports Labs of Latvia.

In May, 782 new companies were registered, which is 58 fewer than in April this year and 20 more than in May last year.

Meanwhile as many as 4,520 companies were liquidated in the first five months of this year.

The total share capital of companies registered in May amounts to EUR 8.23 million. Compared to a month earlier, there were 58 fewer new companies in May, while total share capital was EUR 3.47 million higher.

Ten companies with a share capital of at least EUR 100,000 were registered in May, including one company – Airspeed – with a paid-up share capital of more than EUR 1 million. Airspeed, which has a share capital of EUR 3.5 million, is owned by Pirmdiena. The holding company currently owns shares in 11 companies. These include Draugiem Group Properties, Mapon, Maja Latvija and others.

Among the Top 10 largest companies registered in May in terms of share capital, only CSK Estate Latvia has foreign capital. Of all the companies registered last month, 100 have foreign capital.

The largest number of companies (17) were registered last month by persons from Ukraine, followed by Lithuania with 16 companies.

The municipalities with the highest number of new companies registered in May are Riga with 364 companies, Marupe with 29 companies, Cesis with 26 companies, Jurmala with 25 companies, Ogre with 21 companies, Jelgava with 19 companies, Kekava with 18 companies, Liepaja with 17 companies, Valmiera with 16 companies and Ropazi with 15 companies.

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