LATVIA

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LATVIAN STRUCTURE

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Pursuant to the Latvian Commercial Law, a Limited Liability Company (in Latvian: “sabiedrība ar ierobežotu atbildību”) may have one of the following organizational structures:

  1.  An Executive Board (in Latvian: “Valde”) only.
  2. An Executive Board and a Supervisory Board (in Latvian: “Padome”).

Please see, respectively, “Supervisory Board” and “Executive Board” below for a more in-depth description of each board type, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Latvia on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Latvia.

Pursuant to the Latvian Commercial Law, a Latvian Joint Stock Company (in Latvian: “akciju sabiedrība”) must have the following organizational structure:

  1. An Executive Board (in Latvian: “Valde”) and a Supervisory Board (in Latvian: “Padome”).

Please see, respectively, “Supervisory Board” and “Executive Board” below for a more in-depth description of each board type, including how to change the respective board members.


For a description of how to change the respective board members, please see the individual steps below.
As all information on how to change board members in Latvia on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice before actually changing any board members in Latvia.

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COBALT offices are leading providers of legal services in the Baltics and Belarus with offices in Riga, Vilnius, Tallinn, and Minsk. The team of over 190 lawyers renders comprehensive legal services on all aspects of business and commercial law to local, regional and international legal entities, including multinational enterprises, international banks and financial institutions.

The Latvian office of COBALT was established in 1994 and is one of the oldest business law firms in Latvia offering leading-edge legal solutions in all key areas of business law: mergers & acquisitions, banking and finance, capital markets, EU law and competition law, dispute resolution, tax law, restructuring and bankruptcy, real estate & construction, energy and infrastructure, environmental law, IP & IT and employment law. The firm is regularly top ranked by all international legal directories across practice areas.

For more information about COBALT and changing board members in Latvia, please contact our Partner directly.

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