Ask our legal expert!
Gencs Valters
Ask our legal expert!
Gencs Valters
Claim your FREE copy
Doing Business Guide in the Baltics.

Re-registration of the Share Capital to Euro in Latvia

7 January 2014
Facebook Twitter Linkedin

From January 1, 2014 till July 30, 2016 Capital company must re-register its share capital in the Register of Enterprises.


The share capital re-registration does not occur automatically, because only the merchant is able to make amendments in his own documents and shareholders control the saving of proportionality as regards participation in the share capital.

Share capital re-registration procedure is established in the Law on the Procedure for Introducing the Euro and in the Latvian Commercial Law.


Limited liability companies must submit their current shareholder register in the Register of Enterprises till June 30, 2015.

The example for mathematical recalculation


The share capital LVL 2000 and the nominal value of the share LVL 1; total – 2000 shares.

Shareholder A: 800 shares (40%)

Shareholder B: 1200 shares (60%)


1)      Recalculation of shares (LVL) to euro


LVL 1 = 1,42 euro


2)      Rounding down the share (according to amendments of Commercial Law)


EUR 1,42 -> EUR 1


3)      Share capital (LVL) recalculation to euro


LVL 2000 : 0,702804 = EUR 2845,74


4)      Calculation of remaining balance


EUR 2845,74 – EUR 2000 = EUR 845,74


5)      Balance expression in new shares (EUR), establishing share amount for each shareholder


845,74 : 100 x 40% = 338

845,74 : 100 x 60% = 507


6)      Final shares division


Shareholder A: 338 + 800 = 1138 shares (40%)

Shareholder B: 507 +1200 = 1707 shares (60%)


7)      Payment of the balance or including it in reserves


If it is not possible to recalculate new shares as it is showed in section 5, then the balance is paid out for shareholders or it is included in company’s reserves.


845,74 – 845 = EUR 0,74




The share capital - EUR 2845 and the nominal value of the share - EUR 1


Shareholder A: 1138 shares (40%)

Shareholder B: 1707 shares (60%)

For questions, please, contact Valters Gencs, attorney at law at

folow us folow us folow us rss

The material contained here is not to be construed as legal advice or opinion.

© Gencs Valters Law Firm, 2016
Claim your FREE copy
Doing Business Guide in the Baltics.