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Taking into account the continued relevance of the topic and a number of changes in the legislation we would like once again to discuss the responsibility of members of the board.
The responsibility of members of the board before the company begins from the moment of their election to the position, i.e. after the relevant decision of the shareholders has been made and a written consent of the member of the board to accept the position has been given. Accordingly, the liability ends the moment when the member of the board is removed from the position by the decision of the participants or their resignation from the position.
The Law of the Republic of Latvia on Commercial Pledge was adopted in 1998. The commercial pledge provides an opportunity to pledge the movable property – capital shares, vehicles, trademarks, equipment and other registered property – without transferring it into the possession of the pledge holder, but registering a lien in the appropriate register. Business owners use commercial pledge to receive loans for the development of their companies.
There are goals in life which seem unattainable since most of the people would not even try to do anything because of the complexity of the requirements. One of such challenges is obtaining of the license for the electronic money institution in Latvia. Those willing to obtain the said license must meet very strict requirements set by the legislation of Latvia and regulations of the European Union, as well as by the responsible authority, and namely – the Financial and Capital Market Commission. One must put a lot of effort and hard work in order to meet all these requirements. And yet, this November, owing to the joint efforts of our staff and having performed a considerable number of specific requirements set by the Latvian legislation the Financial and Capital Market Commission has decided to grant our client a license for the electronic money institution.
In cooperation with our English partners law firm INLAT PLUS offers qualified legal assistance in the issues of business and immigration to the UK
Recovering debts from an insolvent company is a task, which is difficult to accomplish. Moreover, in the course of recovering such debts a creditor risks to lose his money untimely. Member of the board of law office INLAT PLUS Aleksandr Lenkovksy tells of standard risks that creditors might face in the course of recovering debts from an insolvent company.
Business for sale – a company, which is carrying out the construction of the terminal for oil products transshipment and storage in the special economic zone with the territory of 130 thousands sq.m.
The proposed investment object is a terminal located in Liepaja, Latvia, at the coast of Baltic Sea.
Law office Inlat Plus has thirteen years of experience in company formation in Latvia. For our foreign clients we offer a wide range of services including organization of different types of business (such as limited liability company (SIA), joint stock company (A/S), branch office, representative office), staff recruitment, opening of a banking account, complex legal support and bookkeeping support, providing with a legal address, as well as office and warehouse premises.
The clients of law office INLAT PLUS now have the opportunity to use the company registration and management services provided by our partner, English company “RM Group”, in the majority of low-tax regions, including Great Britain, Bahamas, British Virgin Islands (BVI), British Anguilla, Cyprus, Isle of Man, Jersey, Luxembourg, Panama, Seychelles, Samoa, Switzerland.
LAW OFFICE INLAT PLUS INFORMS: NEW POSSIBILITIES OF OBTAINING RESIDENCE PERMITS.
Law office INLAT PLUS informs all its clients: on 4th March 2010 Saeima passed amendments to the Law on Immigration to grant temporary residence permits to large-scale foreign investors in Latvia. New law takes effect on 1st July 2010.