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LATVIA Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania Location.

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Presentation on theme: "LATVIA Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania Location."— Presentation transcript:


2 LATVIA Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania Location

3 LATVIA Full country name: Republic of Latvia Government type: parliamentary democrasy Area: 64,589 sq km Population: (July 2005) Capital city: Riga (pop. approx ) Official language: Latvian Currency: Latvian Lat (LVL) Ethnic groups: Latvian 57,7%, Russian 29,6%, others 12,7% Religions: Lutheran, Roman Catholic, Russian Orthodox Independence Day: 18 November Most speaking languages: Russian, English, German General information

4 Latvian Labour Market Unemployment rate divided by regions: Riga region 3,5% Zemgale 4,6% Vidzeme 4,6% Latgale 9,4% Kurzeme 4,5% Labour force: 1.71 million (2006) Labour force by occupation: agriculture 15%, industry 40%, services 45% Average unemployment rate is 4,8% (September 2007)

5 Economy LATVIA MAIN SECTORS OF INDUSTRY Wood processing Food producing Metalfabricating industry Machine and ecquipment building plant Light industry Chemical industry Production of electrical and optical equipment Electric and heat power generating

6 Economy Most prospective production sectors Information technologies Electronics and mechanical engineering Chemical pharmaceutical industries Wood processing Food processing idustry Textiles idustry Construction Tourism Major trading partners: UK, Germany, Sweden, Lithuania, Estonia, Russia, Denmark, Finland, Poland, Belarus.

7 Labour force shortages State Emplyment Agency information: Qualified workers and craftsmen, Sales and services workers, Machine and equipement operators, assemblers, Low skilled workers, Security officers, drivers, sewers.

8 Labour force shortages Different labour market surveys information: Construction specialists, Engineering and electrical engineering specialists, Metal processing specialists, IT specialists, Technologists, Pharmacology specialists, doctors, nurses High qualified managers

9 Prerequisites to find a job in Latvia - Emphasise your education and practical experience - Latvian employers value a good academic background, linguistic (Latvian and Russian or English) and computer skills – depends on profession - CV as a marketing tool, adapted to market - Often an application letter is replaced by less formal phone or contact - Driving licence is an advantage - Motivation and rediness to acquire new skills and experience

10 Recognition of qualifications Academic recognition is necessary if you: want to study or to work in non-regulated profession in Latvia Recognition of foreign professional qualifications is necessary if: the profession is regulated in Latvia you want to practice this profession in Latvia Regulated professions in Latvia: WHERE TO GET INFORMATION? ACADEMIC INFORMATION CENTRE VALNU Str. 2, rooms 209, 210, RIGA, LV-1050 TEL FAX (academic recognition) (professional recognition)

11 Looking for a job in Latvia State Employment Agency, EURES - Job ads in newspapers and on the internet – etc. Private recruitment agencies Personal contacts Speculative applications to internationally oriented firms A minimal understanding of Latvian will make life a lot easier!

12 Is allowed to carry out business activities in the form of: - a limited liability company - a stock company - a brunch of a company Nature of Procedure: Complete signatories cards and companies deeds, certify cards by a notary Open a bank account and get a receipt of reference from the bank Register at the Ministry of Justice, Register of Enterprises Register with State Revenue Service (tax authority) for VAT Register employees for mandatory state social insurance contribution with the State Revenue Service Information: (Commercial Register), (Latvian Investment and Developement Agency) Starting a Business in Latvia

13 Management culture Interviews are the most important part of the application procedure Most companies are very hierarhical in structure Communication in Latvian companies is top down Important business issues always need to be discussed in person Meetings in Latvia take place in a rather formal setting It is important to establish a general sense of mutual trust Most Latvian businesses are eager to adapt their processes to West European standards!

14 WORKING HOURS – 40 h/ per week ANNUAL LEAVE – 4 weeks (28 calendar days) Employment contract: Must be concluded in writing Permanent, probation period 3 month Temporary INCOME TAX – 25% SOCIAL INSURANCE TAX – 9% (9% - employee, 24.09% employer) The main part of the employers are small companies (staff of 20 – 50 people) Working conditions

15 Average monthly wages Minimum salary – 170 EUR/month (from 1st January 2008 – 227 EUR/month) 2nd quarter, 2007 Average gross wage 553 EUR/month including: public sector – 659 EUR/month private sector – 503 EUR/month Divided by regions: Riga region – 591 EUR/month Vidzeme region – 431 EUR/month Kurzeme region – 471 EUR/month Zemgale region – 454 EUR/month Latgale region – 383 EUR/month

16 Average monthly wages demanded sectors Manufacturing – 632 EUR/month Construction EUR/month Wholesale and retail trade – 437 EUR/month Transport – 619 EUR/month Hotels and catering – 432 EUR/month Health and social care – 576 EUR/month Public, social and individual services – 491 EUR/month Education – 494 EUR/month Transport and communications – 619 EUR/month Official statistical information:

17 Taxation calculation Currency: 1 LVL = 0,7028 EUR Gross income500 Less: personal allowance (LVL 50 per month) (from 1st January 2008 – 80 LVL/month) 50,00 Less: allowance per dependants (LVL 35 per month per dependant) (from 1st January 2008 – 56 LVL/month) 35,00 Less: (on a monthly basis) social security tax of 9%45,00 Equals: taxable income401,00 Tax rate of 25%100,25 Gross income less social tax and personal income tax equals: income after taxes 354,75

18 Social insurance State Social Insurance Agency Provides social insurance services Responsible authority for E forms (301,303, ,200...,400...,600...) which content information about pensions and benefits Where to get information? International Services Department Address: Lacplesa str.70 a, Riga, LV-1011 Telephone: Fax:

19 Health care Health Compulsory Insurance State Agency Responsible authority for E forms which content information about services EHIC (E 111), E 121, E112, E109, E Where to get information? EU Relations Unit Baznicas street 25, Riga, LV – 1010 Tel , Fax

20 Prices of food in average Meat 5 EUR/kg Chicken 4,50 EUR/kg Sausage 4 EUR/kg Cheese 6 – 15 EUR/kg Milk 0,80 EUR/l Black bread 0,70 EUR/500g White bread 0,50 EUR/300g Potatoes 0,60 EUR/kg 10 eggs 0,80 EUR Beer 0,70 – 2 EUR/0,5l) Mineral water 0,60 EUR/1,5l Main course in the restaurants 10 – 30 EUR) Living conditions

21 Real estate agencies Personal contacts Ads in the newspapers and on the internet Average prices: rent prices of flats in Riga vary from 200 EUR to 600 EUR/ month (depends on area), in Daugavpils 100 – 350 EUR/ month. to buy a 2 rooms flat in Riga costs 1300 – 4000 EUR/ m², in Daugavpils 800 – 2000 EUR/ m² Where to get information? Sometimes foreigners can be overcharged! Looking for accomodation

22 10 reasons why foreigners should be interested to move to Latvia??? 1. Beautiful nature 2. Historical architecture and places 3. Blue cows 4. Good beer 5. Developed tourism 6. Climate stays tropical 7. Lots of millionaires 8. Best ice- hockey fans in world 9. Wonderful singing and dancing festival 10. Famous people often come to Latvia

23 10 reasons why foreigners should not be interested to move to Latvia??? 1. Expensive level of living 2. Quite low level of income 3. Greedy people 4. Bumpy roads 5. It's almost always raining in the Midsummer night 6. Long queues in shops 7. Inexpensive higher education – quality in question 8. Lack of tolerance 9. Society is passive concerning political activities 10. Too lazy to think of 1 more reason

24 EURES contacts Rīga Daugavpils Liepāja Cēsis Rēzekne

25 Welcome Thank you for attention!

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