As Business in general prefers rather lucid, transparent and thus predictable business environment where the ‘rules of the game’ once established does not change the day after, legal authorities listen and act to meet these expectations. The imminent institutionalization of Silver Economy as a formal sector, thus integral part of country’s whole economic system comes not without some decisions proposed by political will, i.e. adopting relevant legal norms and rulings. On the other hand, once the legal authorities have set the institutional approach towards Silver Economy some mechanisms of supervision and control must take place. In this respect it becomes logic and obvious that at least two Ministries – Ministry of Economics (although RIS3 strategies were developed by the Ministry of Education an Science, the Ministry of Economics administrates RIS3) and Ministry of Welfare are concerned both to be allied to the Investment and Development Agency as well as State Employment Agency. While one option of the establishment of Smart Silver Lab according to local experts opinion might be integrated in “Network of Light” of Latvian National Library, the patronage of the Ministry of Culture is suitable