- Overview: Latvia
- Global HR Compliance
- Global PEO and payroll
- Work permit for hiring expats via PEO
- Expand without a company set up
- Contractor vs. employee: which is better?
Global PEO and Payroll in Latvia
Getting your business up-and-running in Latvia can be challenging, especially if you do not speak the native language. Establishing your own business entity in Latvia is an option to be considered as you expand abroad. But before you invest valuable resources in setting up business in Latvia, you should be fully aware of the risks involved.
Acumen’s Global PEO and Payroll solution was designed especially for companies like yours, to smooth the way for quick, easy and risk-free business operations in Latvia, without having to establish a legal business entity.
Acumen International – Your Professional Employer Organization in Latvia
Navigating the Latvia legal system and adhering to regulations governing employment and taxation can be challenging for businesses, especially if you are not a native Latvian speaker. Partnering with Acumen International as a global Professional Employer organization (PEO) provides you with the local knowledge and support you need to conduct business in Latvia without concern for legal and compliance risks.
Whether you represent international client companies or you are taking your own business operations abroad, Acumen International’s Global PEO and payroll service allows you to hire and payroll local and expat employees in Latvia. With Acumen in your corner, you can quickly and easily onboard and compensate your employees without risk of legal repercussions.
International Global Payroll and Taxation in Latvia
Employment related taxes
Personal income tax (PIT). Latvian residents are liable to Latvian income tax on their worldwide income. Non-residents are liable to income tax on their Latvian-source income.
Payroll Cycle in Latvia
The Labor Law provides that the wage should be paid at least twice a month, unless the parties have agreed that the wage is paid once a month. If the time of payment of the wage has not been contracted or the wage is to be calculated for a specified period of time, the wage according to the work done is paid upon completion of the work or expiry of the relevant period of time, but not less frequently than once a month.
If the date for disbursement of remuneration occurs on a weekly rest day or on a public holiday, the remuneration shall be disbursed before the relevant date.
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How Acumen’s International PEO and Payroll Service can Benefit Your Business in Latvia
Compensating your local and expat workforce in Latvia and closely adhering to Latvian taxation requirements can divert your attention and resources from activities that help your business grow. A reliable global employment solution like Acumen’s Global PEO and Payroll service can take a substantial burden off your shoulders so you can focus on running your company.
Outsourcing the administrative and compliance tasks involved in employee payroll is one approach, but we have a better solution. Acumen International offers a global PEO and payroll solution that goes beyond outsourcing. We hire and compensate your global workforce on your behalf, and take care of all the details of payroll while ensuring full compliance with Latvian labor and taxation laws.
It is important to note that Acumen does not provide international global payroll services as a standalone solution, but only as a part of our global PEO and Payroll solution.
Our comprehensive global PEO and payroll services are just some of the benefits of partnering with Acumen International. We make it easy for you to achieve your business goals in Latvia by officially employing and compensating your best selected global talent – both locals and expats – without concerns for legal and compliance risks faced by global employers.
Disclaimer: Any of the above information is subject to changes imposed by Latvian laws. To get the latest updates on taxation in Latvia and in 190 countries worldwide, contact Acumen’s team of global employment experts.