Formation Index
Company Formations, Q3 2025
2,477 limited companies were registered in Latvia in Q3 2025, +23.1% against the same quarter a year earlier and +15.7% against the quarter before. Of those, 1,172 were registered in Rīga. Joining them is a two day filing.
Source: Uzņēmumu reģistrs open data, dump of 27 September 2026, covering registrations through 25 September 2026. Population REGISTER_BASELINE (SIA and AS). Definitions v4. Methodology.
How Many Companies Are Registered in Latvia Each Quarter?
2,477 limited companies were registered in Latvia in Q3 2025, +23.1% against the same quarter a year earlier and +15.7% against the quarter before. The four quarter total to Q3 2025 was 9,109, and that is the figure to read, because Latvian formations are seasonal.
Formations by Quarter
Show the numbers
| Quarter | Formations | QoQ | YoY | Rolling 4Q |
|---|---|---|---|---|
| Q4 2022 | 2,000 | -0.1% | +1.6% | 7,924 |
| Q1 2023 | 2,271 | +13.6% | +13.6% | 8,195 |
| Q2 2023 | 1,980 | -12.8% | +3% | 8,253 |
| Q3 2023 | 1,709 | -13.7% | -14.6% | 7,960 |
| Q4 2023 | 1,830 | +7.1% | -8.5% | 7,790 |
| Q1 2024 | 2,100 | +14.8% | -7.5% | 7,619 |
| Q2 2024 | 1,988 | -5.3% | +0.4% | 7,627 |
| Q3 2024 | 2,013 | +1.3% | +17.8% | 7,931 |
| Q4 2024 | 2,118 | +5.2% | +15.7% | 8,219 |
| Q1 2025 | 2,373 | +12% | +13% | 8,492 |
| Q2 2025 | 2,141 | -9.8% | +7.7% | 8,645 |
| Q3 2025 | 2,477 | +15.7% | +23.1% | 9,109 |
How Much Capital Do New Latvian Companies Register?
In Q3 2025, 24.8% of new companies registered with EUR 1 of capital, 29.4% with EUR 2 to 2,799, and 45.8% with EUR 2,800 or more. Latvia has allowed a reduced-capital company since 2010, so this is the closest the register comes to saying what kind of company a founder meant to build.
What Founders Put In
- Q4 2024EUR 2,800+50.9%EUR 120.6%
- Q1 2025EUR 2,800+49%EUR 121%
- Q2 2025EUR 2,800+46.6%EUR 123.9%
- Q3 2025EUR 2,800+45.8%EUR 124.8%
- Q4 2025EUR 2,800+46.1%EUR 121.9%
- Q1 2026EUR 2,800+46.7%EUR 123%
- Q2 2026EUR 2,800+43.6%EUR 123.2%
EUR 2,800 is the standard minimum capital for a Latvian limited company and EUR 1 is the reduced minimum. The remainder of each quarter sits between the two.
Show the numbers
| Quarter | EUR 1 | EUR 2 to 2,799 | EUR 2,800+ |
|---|---|---|---|
| Q4 2024 | 20.6% | 28.5% | 50.9% |
| Q1 2025 | 21% | 30.1% | 49% |
| Q2 2025 | 23.9% | 29.5% | 46.6% |
| Q3 2025 | 24.8% | 29.4% | 45.8% |
| Q4 2025 | 21.9% | 32% | 46.1% |
| Q1 2026 | 23% | 30.3% | 46.7% |
| Q2 2026 | 23.2% | 33.3% | 43.6% |
Where in Latvia Are New Companies Registered?
Rīga had the most, 1,172 of the 2,477 limited companies registered in Q3 2025, followed by Mārupes nov. with 97. Within Riga, Centrs led with 171, though a registered address is often an accountant’s office rather than a workplace.
Where They Registered
- Rīga1,172 formations
- Mārupes nov.97 formations
- Jelgava75 formations
- Jūrmala73 formations
- Daugavpils69 formations
- Ogres nov.69 formations
- Liepāja61 formations
- Ķekavas nov.55 formations
- Ropažu nov.53 formations
- Valmieras nov.49 formations
Show the numbers
| Municipality | Formations |
|---|---|
| Rīga | 1,172 |
| Mārupes nov. | 97 |
| Jelgava | 75 |
| Jūrmala | 73 |
| Daugavpils | 69 |
| Ogres nov. | 69 |
| Liepāja | 61 |
| Ķekavas nov. | 55 |
| Ropažu nov. | 53 |
| Valmieras nov. | 49 |
| Ādažu nov. | 47 |
| Siguldas nov. | 45 |
| Tukuma nov. | 44 |
| Cēsu nov. | 43 |
| Jēkabpils nov. | 42 |
| Talsu nov. | 35 |
| Bauskas nov. | 34 |
| Jelgavas nov. | 33 |
| Madonas nov. | 31 |
| Salaspils nov. | 25 |
| Dobeles nov. | 24 |
| Limbažu nov. | 24 |
| Aizkraukles nov. | 23 |
| Olaines nov. | 23 |
| Saldus nov. | 22 |
| Ventspils | 20 |
| Gulbenes nov. | 18 |
| Kuldīgas nov. | 18 |
| Dienvidkurzemes nov. | 17 |
| Rēzekne | 17 |
| Ludzas nov. | 15 |
| Līvānu nov. | 14 |
| Rēzeknes nov. | 14 |
| Alūksnes nov. | 13 |
| Balvu nov. | 13 |
| Smiltenes nov. | 12 |
| Krāslavas nov. | 8 |
| Saulkrastu nov. | 8 |
| Ventspils nov. | 7 |
| Augšdaugavas nov. | 6 |
| Valkas nov. | 6 |
| Preiļu nov. | 3 |
Where in Riga
- Centrs171 formations
- Teika80 formations
- Purvciems68 formations
- Ķengarags60 formations
- Avoti58 formations
- Imanta51 formations
- Latgale46 formations
- Sarkandaugava44 formations
- Pļavnieki43 formations
- Ziepniekkalns43 formations
Show the numbers
| Neighbourhood | Formations |
|---|---|
| Centrs | 171 |
| Teika | 80 |
| Purvciems | 68 |
| Ķengarags | 60 |
| Avoti | 58 |
| Imanta | 51 |
| Latgale | 46 |
| Sarkandaugava | 44 |
| Pļavnieki | 43 |
| Ziepniekkalns | 43 |
| Āgenskalns | 39 |
| Brasa | 36 |
| Grīziņkalns | 31 |
| Jugla | 31 |
| Čiekurkalns | 29 |
| Vecpilsēta | 28 |
| Iļģuciems | 27 |
| Dārzciems | 23 |
| Skanste | 22 |
| Mežciems | 20 |
| Bieriņi | 19 |
| Pleskodāle | 17 |
| Vecmīlgrāvis | 17 |
| Zolitūde | 17 |
| Pētersala-Andrejsala | 15 |
| Šķirotava | 15 |
| Dreiliņi | 12 |
| Mežaparks | 12 |
| Torņakalns | 12 |
| Dzirciems | 11 |
| Zasulauks | 11 |
| Mīlgrāvis | 10 |
| Bolderāja | 7 |
| Trīsciems | 7 |
| Atgāzene | 5 |
| Šampēteris | 5 |
| Daugavgrīva | 4 |
| Ķīpsala | 4 |
| Berģi | 3 |
| Bukulti | 3 |
| Dārziņi | 3 |
| Jaunciems | 3 |
| Rumbula | 3 |
| Vecāķi | 3 |
| Bišumuiža | 2 |
| Beberbeķi | 1 |
| Brekši | 1 |
Neighbourhood names link through to the companies we list there. See them on the map.
Do These Formation Numbers Change After Publication?
Yes, slightly, and the page tells you which reading you are looking at. Every edition carries the dump it was built from and the date the data runs to. A later dump of the same register can return a different count for a quarter already published, because the register keeps changing behind the dump.
Three things move a number after it is out. Registrations and corrections are entered after the fact, so a company formed near the end of a quarter can land in a later dump than the one that first reported that quarter. Terminated companies leave the capital file entirely, which lowers a quarter’s capital coverage as it ages. And a definition can change, in which case the changelog below says so.
Two rules keep that honest rather than confusing. A quarter is not reported at all until at least ten days have passed since it ended, which is what stops the first reading being the worst one. And each quarter gets its own permanent address once it qualifies, so the figure you cite stays where you found it.
Cite the dated edition rather than this page if the number matters. The hub always shows the latest complete quarter, which means the same URL says something different next quarter, and that is the difference a citation needs to survive.
What Does the Latvia Company Formation Index Not Measure?
Startups, for one: it counts every limited company, because Latvia publishes no industry classification per company as open data. A formation is also a registration rather than a business, since some of these companies will never trade and some hold a single asset, so the index counts only what the register records.
This counts every limited company, not startups. Latvia publishes no industry classification per company as open data, and every signal that would mark a company as a tech company is one that disappears when the company does. Rather than dress a guess as a definition, the index counts what the register actually records and says so in its title. The reasoning is set out on the methodology page.
A formation is a registration, not a business. Some of these companies will never trade, and some are holding vehicles for a single asset. The survival series will eventually say how many.
Capital figures cover 98.1% of this quarter’s cohort. The register publishes capital only for companies that still exist, so the further back a quarter sits, the more its capital describes survivors alone. Quarters below 95% are left blank rather than published as a flattering median.
Frequently Asked Questions
How Many Companies Were Registered in Latvia in Q3 2025?
2,477 limited companies, SIA and AS, were registered in Latvia in Q3 2025, +23.1% against the same quarter a year earlier and +15.7% against the quarter before.
Why Are Latvian Company Formations Read Over Four Quarters?
Because formations are seasonal, so a first quarter is not comparable with a third. The four quarter total to Q3 2025, 9,109, smooths that out and is the series to read.
Does the Latvia Company Formation Index Count Startups?
No. It counts every limited company registered, because Latvia publishes no industry classification per company as open data, and every signal that would mark a company as a tech company disappears when the company does.
Where Does the Latvia Company Formation Index Data Come From?
From the Uzņēmumu reģistrs open data, dump of 27 September 2026, covering registrations through 25 September 2026. Riga neighbourhoods are placed from each company’s registered address.
When Is the Latvia Company Formation Index Published?
In the second week after each quarter ends. Each edition has its own page and CSV, and the full quarterly series can be downloaded as a single file.
Definitions Changelog
- v4, 9 September 2026. Added BambooHR to the machine readable boards. It is the ninth board we can read and the first found by crawling company careers pages rather than by guessing an account name. It carries no salary field, so it is deliberately absent from the boards that can state pay, and adding it lowers the share of roles on a pay capable board without any employer having changed what they disclose.
Cite This
Sageo SIA (2026). Company Formations in Latvia, Q3 2025. Riga Startups. Computed from Uzņēmumu reģistrs open data, extract of 2026-09-27. https://rigastartups.com/reports/formation-index-2025-q3
Permalink: https://rigastartups.com/reports/formation-index-2025-q3 · CSV for this edition
The numbers are free to reuse. The register data underneath is CC0 and this analysis of it is offered on the same terms. An attribution and a link back is the whole ask.
Other Editions
Published in the second week after each quarter ends.