Pilnsabiedrība (PS), general partnership PSLatvia
What it takes to form, own and run a general partnership in Latvia, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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Members of the partnership shall be personally liable for the commitments of the partnership with all of their property as joint debtors.
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two or more persons (members) have united on the basis of a partnership agreement, without limiting their liability against creditors of the general partnership
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1.2. personālsabiedrība 1 , sabiedrība ar ierobežotu atbildību 1; 4 gab. 75,00
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Tax is paid by inland companies (including partnerships), institutions funded from the State or local government budget
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Not stated
The registry’s and the law’s own pages do not mention it.
What it takes to form
Not in our records A notary, A resident director, Paying up the capital: none of these is in our records for the PS.
Own it
Who may own and run it
- Directors
- Does not apply
- Shareholders
- Does not apply
- Members
- At least 2
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two or more persons (members) have united on the basis of a partnership agreement, without limiting their liability against creditors of the general partnership
- A local company secretary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A local registered agent
- Not stated
The registry’s and the law’s own pages do not mention it.
Each year, at the registry
- Annual registry fee
- Not stated
The registry’s and the law’s own pages do not mention it.
- Accounts on the public record
- Yes
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The Enterprise Register shall ensure public access to the received documents.
- Audit for a small company
- Not required
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if it is a medium-sized or large undertaking or if its transferable securities are admitted to trading on a regulated market
- Audit
- Medium-sized and large undertakings, and those with securities on a regulated market, must have the annual statement audited by a sworn auditor. A small undertaking is audited only if it exceeds two of three limits for two years running (balance sheet EUR 1,000,000; net turnover EUR 2,000,000; 50 employees), is a group parent, or is a public-entity capital company (s.91(2)); micro undertakings are not audited on size.
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if it is a medium-sized or large undertaking or if its transferable securities are admitted to trading on a regulated market
Important dates
When each obligation falls due, as the authority states it.
Not in our records No dates for the PS are in our records.
What is public
Not in our records What the register shows the public is not in our records for the PS.
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
On distribution · 0% retained
Corporate income tax at 20% is charged on distributed profit; partnerships are CIT payers under the same regime as companies.
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Tax is paid by inland companies (including partnerships), institutions funded from the State or local government budget
Work it out on a profit figure: the company’s tax, the owner’s, and what is left.
- CFC rules in Latvia
- Yes
Close it
Closing it
The other end, which most guides leave out.
- Route
- The partnership is terminated (by expiry of its term, member decision, bankruptcy or court ruling) and then liquidated, unless the partnership agreement provides another settlement.
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The partnership shall be liquidated after the termination of the partnership, except when a different way of final settlement is laid down in the partnership agreement
- Statutory fee
- EUR 30
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5.1. komercsabiedrības likvidācijas uzsākšana un pabeigšana, izslēgšana no komercreģistra 1; 4 gab. 30,00
Every business in Latvia
VAT
- Standard rate
- 21%Official European Commission, Taxes in Europe Database situation on 2026/07/01
Payment and banking services
5 services name Latvia on their own list: Paysera, Airwallex, Stripe, Revolut, N26. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- General partnershipDerived our grouping, the same words in every country
- Name in law
- Pilnsabiedrība (PS), general partnership (PS)
- ISO 20275 code
- 3LCYSecondary GLEIF, Entity Legal Forms code list