SIA is a legal entity within the territory of Latvia, with the full name Aabiedrība Ar Eerobežotu Atbildību. The ownership of SIA is consolidative, and it is a limited liability entity. SIA does not publicly participate in the market, and it requires at least one shareholder and at least one director. SIA does not need to appoint a legal representative, but it does require at least one local person to act as a director. Additionally, SIA does not require a company secretary. The minimum registered capital for SIA starts at 1 euro and does not require verification of the capital. Overall, SIA is a relatively simple legal entity, suitable for use by small businesses or individual entrepreneurs.