The company is required to carry out its commercial activity in the LSEZ territory (the real estate is supposed to be either in the ownership, lawful possession or assigned for use to the particular company).
In accordance with the provisions, laid down in the normative acts, the company shall be required to carry out its entrepreneurial activities in the supported industry sectors (ref. the Law “On Application of Taxes in Free Ports and Special Economic Zones”).
The company shall plan its investment projects ahead - up to a five-year period.Investments by the LSEZ Commercial Companies: such long–term tangible investments (buildings, structures, equipment and machinery), and intangible investments (expenses to obtain patents and to acquire technologies), which have been made into the fixed assets of the respective commercial company, or those of the Authority, in compliance with the provisions, laid down in the Law “On Application of Taxes in Free Ports and Special Economic Zones.”
For obtaining the status of the LSEZ Commercial Company, the company shall submit the required documents to the Board of the Liepaja Special Economic Zone.
5. The application of the company to obtain the status of the LSEZ Commercial Company shall be subject to the approval by the Board of the Liepaja Special Economic Zone.
6. After the aforementioned approval has been received, the company shall then get re-registered with the Commercial Register of the Republic of Latvia, by adding the wording “Liepaja Special Economic Zone” to the current name of the respective company (firm). The same applies upon registration of a new company. The new company name shall appear in the Statutes and the Registration Certificate of such a company.
7. The company shall enter into an agreement with the Authority (for carrying out its commercial activity in the LSEZ territory), and into an agreement on implementation of its investment project.
8. Once the company has entered into the agreement with the Authority on carrying out its commercial activity in the LSEZ territory, the Authority shall issue a certificate on behalf of the government, affirming that the commercial company is eligible to apply the direct tax incentives, provided by the Law “On the Liepaja Special Economic Zone”, and the Law “On Application of Taxes in Free Ports and Special Economic Zones.”