bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Tuesday 12.11.2019 | Name days: Kaija, Kornēlija
LatviaLatvia

Lursoft: nearly 32,000 Latvian companies have disclosed true beneficiaries

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU31,800 Latvian companies have disclosed their true beneficiaries. Of those businesses, 28,300 had registered this information last year. Among the most frequently mentioned names of beneficiaries in Latvia are Aigars Kesenfelds, Guntis Rāvis and Ernests Bernis, according to data from Lursoft.

79.47% of all reported beneficiaries are people from Latvia. 47 of them are minors, as concluded in Lursoft study. It was also found out that in 372 cases when a company’s majority shareholder is a foreigner true beneficiary is Latvian citizen.

In 6.19% of cases the registered beneficiaries are not participants in any companies registered in Latvia. One-fifth of those people had owned shares in companies in the past.

One such person is Aigars Kesenfelds, who is currently the true beneficiary in 81 companies. At the same time, he owns no shares in any company. This businessman is the true beneficiary in several real estate companies, as well as a firm that offers self-service carwash – SIA Wash and Drive, AS Skanstes Biroju Centrs, SIA Mintos Finance and others. Kesenfelds’ interests in those companies are represented by AS ALPS Investments, as well as Malta-based Dyonne Trading & Investments Limited and other companies of this kind. Since June 2018, the number of businesses in which Kesenfelds is registered as true beneficiary has increased by a total of 19 companies.

Guntis Rāvis’s name is also frequently mentioned on lists of true beneficiaries. According to information from Lursoft, Rāvis is the true beneficiary in 75 companies. At the same time, he is also a shareholder in 7 companies and has posts in 53 companies.

Similar to Kesenfelds, Rāvis has increased the number of businesses in which he is registered as true beneficiary over the past year. In June 2018, Rāvis’ name was found on lists of true beneficiaries of 68 companies. Ernests Bernis’ name was found in 56 companies.

Lursoft has calculated that one-fifth of all true beneficiaries are foreigners. Among them, however, are also those whose names are mentioned among true beneficiaries of Latvian companies more often than others.

US citizens George Rohr and Moris Tabacinic are true beneficiaries in companies like AS Sidrabe, SIA Ģipša fabrika and others. Still, US citizens are rarely found among true beneficiaries in Latvian companies.

According to data from Lursoft, Russia, Lithuania and Estonia are also among the leading countries whose citizens are true beneficiaries in businesses in Latvian companies. The same goes for Ukraine and Germany. Lursoft has also found out that the number of true beneficiaries from Russia exceeds the ones from Lithuania 2.5 times.

Looking at statistical data for foreign investments it shows that Russian investors are the most active when it comes to investments in capital of Latvian businesses – at the time of the survey 5,960 Russian investors had invested money in 5,519 Latvian companies. Lithuanian investors had invested in 2,433 Latvian companies. However, in spite of the fact that Russian investors have come in the majority, the difference between investments from Russia and Lithuania is only 21.18%. Investors from Russia have saved up EUR 688.51 million in Latvian companies, whereas Lithuanians have saved up EUR 542.71 million.

Most of the companies in which true beneficiaries are aforementioned people are associated with real estate operations. Data compiled by Lursoft shows that 3,110 businesses have disclosed true beneficiaries.

Similar results are for wholesale and retail trade industries (2,690 and 2,365 companies).


Leave a reply

Saeima’s budget committee supports Latvia’s 2020 budget outline in first reading

On Monday, 11 November, Saeima’s Budget and Finance Committee concluded work on the next year’s budget, supporting its submission to the parliament for the final reading.

Ankara begins sending Islamist extremists back to West

Turkey has on Monday, November 11, announced the start of deporting foreign radical Islamist fighters back to their countries of origin. Turkey has over a thousand foreign Islamic State fighters in custody.

Number of murders and murder attempts up in Latvia this year

When compared to 2018, there has been an increase in the number of murders and murder attempts in Latvia in the nine months of 2019. The majority of those crimes were committed during alcohol drinking, according to data from Latvia’s State Police.

Tallinn’s payments into EU’s budget to increase by some EUR 120 mln

The payments of Estonia into the multiannual financial framework of the European Union could grow by around 120 million euros annually from the year 2021, yet the Baltic country still expects to receive considerably more than it contributes.

Construction output in Latvia increases 5.9%

Compared to Q3 2018, construction output had increased by 5.9 % in Q3 2019. Construction output rise was observed in construction of buildings as 11.7 %, civil engineering as 2.1 % and specialised construction activities as 2.4 %.

Economist: high rent prices in Riga contribute to emigration

The high rent prices may be the reason why in spite of low unemployment levels and shortage of labour force people from Latvia’s regions depart to foreign countries, not Riga, says Citadele Bank’s economist Mārtiņš Āboliņš.

Russia starts selling train tickets to annexed Crimea

A Russian railway company has begun selling train tickets from St. Petersburg to Crimea, the peninsular illegally seized from Ukraine. The first trip from St. Petersburg for Sevastopol in December will take 43.5 hours.

Latvia celebrates 100th anniversary of Lāčplēsis Day

Today, 11 November, Latvia celebrates Lāčplēsis Day and the 100th anniversary of the Bermondt affair, honouring the troops who died in Freedom Fights and other defenders of the state.

October’s unemployment level in Latvia at 5.7%

The registered unemployment level in Latvia was 5.7% of economically active population in October, which is as much as a month prior, according to data from the State Employment Agency.

Doctors urge government to postpone budget approval; prepare for strike

Latvian Doctors Union, Latvian Young Doctors Association and Latvian Nurses Association urge the government to postpone budget approval and continue talks about allocation of additional funding for healthcare in 2020 and future years, associations report.

Estonian exports weaken as imports rise

In Estonia, the exports of goods this September as compared to the respective month of 2018, have weakened by three percent, while imports have risen at the same pace, according to Estonian official statistics.

Burkovskis may become new head of TV3 news service; conflict of interests denied

Management over combined TV3 news service has been offered to the current head of LNT analytical programme LNT TOP 10 News Haralds Burkovskis, as confirmed by Burkovskis.

Romanian presidential election will need run-off

In the Romanian presidential election, incumbent Klaus Iohannis has won, yet not securing a decisive majority. The result of the election will be decided in a run-off on November 24.

Latvian Green Party excluded from European Green Party

Latvian Green Party has been excluded from the European Green Party. However, such a decision did not come as a surprise to members of the party, because the idea of leaving had been discussed among members in the past, as reported by LZS chairman Edgars Tavars.

Spain’s snap election won by ruling Socialists

In Spain’s snap parliamentary election, the ruling Socialists came out as winners, yet their seats were reduced and with them their chances of forming a stable majority government. Will all votes counted, the Socialist party won 120 out of a total of 350 seats.

Week in Lithuania: Court sanctions fugitive judge’s arrest, President meets Pope, pollution tax proposed

Last week, in Lithuania, Court sanctioned the arrest of s fugitive judge, Lithuanian President met with the Pope, a pollution tax was proposed and the parliament passed «spy swap» bill.

BNN summary of the week: Mūrniece apologizes; the end for LNT; viewing of Rimšēvičs’ case

November’s first Saeima meeting commenced with atypical crowds surrounding the parliament. Doctors and opponents of the regional reform protested outside the Saeima, one group after another, on Thursday, 7 November.

Media Council to assess effect of LNT-TV3 news service merge on media space

Latvia’s Culture Ministry has turned to the National Electronic Mass Media Council with a request to evaluate the possible effect from the merging of LNT and TV3 news services on the variety of opinions in the electronic media space.

Inflation in Latvia estimated at 2.3% in October

Compared to October 2018, the average level of consumer prices rose by 2.3 % in October 2019. Prices of goods had increased by 1.9 % and prices of services by 3.0 %.

Winner of procurements in Jurmala has ties to Construction Office’s chief

Latvia’s Corruption Prevention and Combating Bureau has taken notice of information mentioned by the press about the company that won in several generous procurements of Jurmala City Council, specifically that its owner is the brother of the Construction Office.

Cyprus to annul passports «sold» to 26 investors, including 9 Russians

The Cypriot government has decided to annul passports the European Union member state has issued to 26 citizens of third countries in return for large investments.

All Media Baltics to liquidate LNT news service; to work with TV3 brand instead

Media group All Media Baltics intends to work with TV3 brand in Baltics from December onward, as reported by the company. At the same time, the media group itself will work with TV3 Grupa brand.

Child vaccination: Lithuanian legislators back mandatory vaccines

In Lithuania, legislation to make child vaccines against polio, measles and rubella mandatory has received the support of the Seimas in the first vote.

Eastern Germans less positive about benefits from reunification 30 years on

As Germany is to mark the 30th anniversary of the fall of the Berlin Wall, a poll has found that fewer eastern Germans feel reunification has been beneficial than was the case ten years ago.

LTV: ex-LDz chairman’s paid compensation for leaving may reach quarter of a million

The compensation paid to ex-chairman of Latvian Railway Edvīns Bērziņš and board member Aivars Štrakšas may reach EUR 250 000 and EUR 200 000, respectively, as reported by public broadcaster LTV programme Panorāma.