The Legal 500

Latvia

Share this page

Editorial

Legal market overview

Despite being a European Union and euro-area member, Latvia’s relationship with the former Soviet Union countries that constitute the CIS (Commonwealth of Independent States) continues to profoundly affect the country’s economics and politics. As the NATO-member nation with the highest proportion of ethnically Russian citizens, it is monitoring the current crisis in Ukraine with understandable concern.

Notwithstanding political tensions, there remains an impressive degree of interest in the country from major Russian investors; notably, non-resident savings account for approximately 50% of bank deposits. The interest of strategic investors in local companies is also evident, particularly in the port and logistics sectors. Furthermore, legal firms report an upturn in real estate mandates due to growing interest from investors.

The imminent sale by the government of its 75% stake in Citadele Banka dominates the corporate horizon. In other sectors, the increasing ability of domestic entities to buy out foreign companies has seen local capital become more active. One interesting trend involves local and foreign capital forming joint ventures.

The beginning of 2014 saw significant amendments to the Law on Judicial Power and the Civil Procedure Law come into effect, marking the beginning of a transition to a three-level court system in Latvia.

On the merger front, the main news was the demerger in autumn 2014 of Vilgerts from Magnusson. MAQS Law Firm is now known as Njord Law Firm.

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to

Legal Developments in Latvia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to