773 new companies were registered in Latvia this past March, down from 1,032 new companies registered in March 2021 and 827 new companies registered in March 2020. At the same time, the number of new companies registered in March this year is the highest monthly number of new companies registered so far this year.
92 percent of new companies registered in March are limited liability companies, 6 percent are individual merchants, there are also ten new farms, five foreign companies' branches, two general partnerships, one individual undertaking and one limited partnership.
According to Lursoft, 51.5 percent of all companies registered in March were registered in Rīga. The second largest number of new companies was registered in the area around the capial, Pierīga (13.3 percent). Latgale had the smallest number of new companies registered in March (7.6 percent of all new companies).
More than half (56.6 percent) of the newly registered limited liability companies have a share capital of less than EUR 2,800, while 21.4 percent of limited liability companies registered in March have a share capital of less than EUR 10.
In March 2022, the total share capital of new companies was EUR 4.68 million, compared to EUR 15 million in March 2021 and EUR 3.62 million in March 2020.
In the first quarter, the total share capital of new companies was EUR 13.18 million, compared to EUR 25.8 million in the first quarter of 2021 and EUR 9.03 million in the first quarter of 2020.
The largest new company registered in March 2022 is Aizkraukles ESO, whose share capital is EUR 700,000, followed by IGN RES DEV1 and IGN RES DEV2 registered by Lithuania's Ignitis Renewables. Both companies' share capital is EUR 500,000.
Lursoft also said that 3,178 companies were liquidated in the first quarter of this year.
