The status of Latvian law firms will change
Until the latest amendments to the Bar association law (effective March 16), the legal status of a law firm in Latvia was regulated in a very general way and there was a different interpretation of the law on whether a law firm was a legal person, as well as on recognition of a law firm as a legal entity.
According to the latest amendments a law firm Latvia may be formed as a partnership or limited liability company by registering it in the Commercial Register in accordance with the procedures specified in the Commercial Law. At the same time, the amendments stipulate that law firms as a partnership or limited liability company may be established only for the performance of professional activities, i.e., for the provision of legal services. Therefore, the legal status of Latvian law firms will be subject to the regulation of the Commercial Law, which in certain matters is supplemented by specific provisions provided for in the Bar Association Law.
Only lawyers (members of the Bar) may be members or founders of the law firm. It is only allowed for a lawyer to be a founder or member of one law firm. The administrative positions are also reserved for lawyers.
Before registering in the Commercial Register, the founder of a law firm in Latvia will have to obtain the consent of the Council of the Bar association to register the law firm.
The new regulation will not only determine the legal status of law firms but will also provide for a transparent tax regime and tax administration process.
Additional Information
For more information, please contact NJORD Riga office at riga@njordlaw.lv, tel. +37167313315, @ law firm Latvia
NJORD is a Latvian law firm (advokātu birojs) with offices in Denmark, Estonia, Latvia and Lithuania. We have more than 200 employees of which about half are lawyers. We are a full-service business law firm with particular focus on litigation, intellectual property, corporate and commercial, immigration and criminal law (white collar crimes). Please visit us at www.njordlaw.com
