Starting a company in Latvia as an international bachelor's student can be a bit challenging, but it is certainly possible. Here are some steps you can take to get started:
Research: Learn about the business environment in Latvia and the types of businesses that are in demand. Research the local market, competition and regulations.
Learn the language: Knowing the local language can be a big help when starting a business in Latvia. It will make it easier for you to communicate with local authorities, suppliers, and customers.
Get a Residence Permit: As an international student, you will need to obtain a residence permit in order to start a business in Latvia. This can be done by applying for a student visa or residence permit and showing that you have enough financial resources to support yourself while running a business.
Find a local partner: Consider finding a local partner who can help you navigate the local business environment and provide valuable insight into the local market.
Register your business: Register your business with the Latvian Enterprise Register and obtain the necessary licenses and permits to operate.
Get funding: Consider applying for funding from local business incubators or accelerators.
Keep in mind that starting a business as a student can be demanding on your time and resources, so it's important to be prepared and to have a solid business plan before embarking on this journey.
It is recommended to seek advice from local business consultants, lawyers and accountants to make sure you comply with the laws and regulations.
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