Latvia’s new Startup Law to attract overseas entrepreneurs

Latvia is enhancing its efforts to attract overseas entrepreneurs. Its latest initiative is the Startup Law that aims to accentuate its startup ecosystem. This is one among several initiatives taken by Latvia to cement its space as a leading entrepreneurial and tech environment.

The Startup Law makes Latvia the only European tax regime that is oriented towards the easy creation of startups.

Another initiative taken by Latvia is the Startup Visa. It is open to all non-EU entrepreneurs looking to launch a firm in the nation. Latvia launched diverse initiatives in 2017 for boosting its startup ecosystem. These were aimed at enhancing its abilities amidst bigger neighboring ecosystems like Estonia.

The Startup Visa approval is 1 per month. It permits up to 5 overseas entrepreneurs who are founders of the firm to use the Visa to access the nation. The Visa system of Latvia is family-friendly. The validity of Startup Visa can last up to 3 years. This offers adequate time to technologists to scope out the ecosystem. They can also obtain investments and launch their technology.

Latvia has now emerged as a likely contender for the Baltic counterpart of the Silicon Valley. It is further accentuated by the increase in national conferences. These include Tech Chill that is now held every year in Riga the capital of Latvia, as quoted by the 150sec. Overseas entrepreneurs have of late been taking note of this Baltic nation.

Usually, Latvia’s neighbors Lithuania and Estonia are spotted in the spotlight for startups. However, the nation has been taking diverse initiatives to enhance its tech-savvy ecosystem.

The Baltic nation boats one of the region’s largest airports. It also has very active co-working spaces. In last one year, the authorities have enacted diverse fresh laws that are favorable to the startup ecosystem.

Y-Axis offers a wide range of visa and immigration services as well as products to aspiring overseas immigrants including Business Visa for Schengen, Study Visa for Schengen, Visit Visa for Schengen, and  Work Visa for Schengen.

If you are looking to Study, Work, Visit, Invest or Migrate to Latvia, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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