VID Warned Residents of Latvia Whose Addresses Are on the 'Risk List' 0 13

According to VID, as of January 19 of this year, there were 795 active addresses listed in the risk register. The service notes that including a company's address in the risk list is a tool for preventing potential risks of fictitious business activities and tax evasion.

The risk address list in Latvia has been introduced as a preventive tool that helps to identify and limit fictitious business activities at an early stage, before significant losses are incurred by the state or honest entrepreneurs.

VID explains that practice confirms: regulating risk addresses is an effective, lawful, and in the public interest tool. For example, previously, dozens of unscrupulous merchants registered even in dilapidated buildings and public toilets, whereas today such practices are no longer considered 'normal'.

If an address is included in the risk list, its owner has the right to submit an application to VID so that after resolving the situation, the address can be removed from the list. Additionally, address owners and their family members can obtain permission to register their own business activities.

The service notes that the Register of Enterprises responds promptly to applications from owners, while simultaneously considering solutions that would simplify the procedure for owners who have identified unauthorized registrations of companies in their properties.