Apr 20, 2017

Latvian Bank Corporate Account With Strongly Regulated European Bank With Rapid Account Opening And Standard Multi Currency Accounts.

You can open a non resident corporate account in Latvia with the help of the experts at the Offshore Pro Group. This bank can offer the following advantages to you:

  • Well regulated bank in Europe
  • Standard multi-currency accounts
  • Wide network of correspondent partners
  • Minimum deposit low for a corporate account
  • Open an account fast
  • Asset diversification and growth through expert financial investments
  • Corporate payment cards
  • Service is highly personalized
  • Deposit Guarantee Scheme From EU

Now send an email to us [email protected] and we will use our international banking expertise to guide you through opening a corporate account with this bank in Latvia. The next important step is to read this page carefully and provide us with your answers The Very Best Free Advice On Making The Right Choice Of Offshore Bank Account.

Latvia As An Offshore Jurisdiction

With a population of just over 2 million people, Latvia can be found in Northern Europe in the Baltic region. The country is a Republic democracy and it has a parliamentary system. Since 2004 Latvia has been a member state of the European Union (EU).

Latvia finds itself on the World Bank’s list of high income countries. To be eligible for this list, a country has to have a gross national income per capita that is higher than $12,475. Since the financial crisis of 2008/2009 the economy of Latvia has rallied well and from 2011 onwards their GDP per capita has been steadily rising. It is actually one of the fastest growing economies of all of the EU member countries.

In an effort to make the country more financially transparent, the government of Latvia has made an agreement with the OECD to participate in the Automatic Exchange of Information (AEoI) program. This means that Latvia will provide details of their financial institutions, reportable income, reportable accounts and their due diligence procedures.

This is one example of Latvia being committed to enhancing its reputation as a renowned international banking center. Financial institutions are regulated by the Financial and Capital Market Commission (FCMC), and the FCMC is stepping up supervision through the performing of large scale tests.

The FCMC is continuously tightening the banking laws in Latvia and a good example of this is the changes to the laws to prevent illegal monies for terrorism and money laundering. There are much tougher penalties now for banks that violate these laws. The maximums have been raised from 10% of the bank’s net income to 10% of the bank’s total turnover. Now the maximum fine for violation is 5 million EUR whereas before it was only 142,300 EUR.

These changes are certainly having a significantly positive impact on the perception of Latvia as an international banking centre. The financial institutions will only deal in legitimate activities and you will not be able to hide your money there. Latvia is a good choice of jurisdiction for asset protection, growth and diversification.

As it is an EU member state, Latvia has now introduced the Deposit Guarantee Scheme. The purpose of this scheme is to provide coverage to protect bank deposits. It is unlikely that a bank in Latvia would go into default and be unable to meet its payable obligations, but if this did occur then the scheme will guarantee to cover client deposits up to 100,000 EUR. For more details regarding the Deposit Guarantee Scheme please ask your international banking expert at the Offshore Pro Group.

Your Corporate Account With This Latvia International Bank

Founded in 1992, this international bank is one of the largest in the Baltic’s. It was one of the first private banks in the country that focussed on individuals of high net worth and corporations. It has over 20 years of experience in the Baltic States as well as other European markets, the Ukraine and Russia.

The bank has representative offices in Russia, Kazakhstan, Romania, Belarus and the Ukraine.  The bank is able to provide traditional banking services as well as savings programs and capital growth programs through its subsidiary.

Your deposits will be secure with this bank and they have a current capital adequacy ratio of more than 20% and a liquidity ratio of less than 80%. The bank recorded a profit, which was audited, of more than 51 Million Euros between January and June 2016.

The policy of the bank is to get to know its clients really well. Once your account is opened you will be assigned a personal manager and they will always be at your service. When it comes to making decisions the bank has an “individual approach”.

It is a competitive bank when it comes to the minimum deposit required for a corporate account. Immediately after your corporate account is open you will be offered a comprehensive range of financial products and services to protect and enhance your assets.

Corporate Account Services From This Latvian Bank For The Management Of Your Assets

This bank will allow non resident clients to open a corporate account for the protection, diversification and growth of their assets. When you are operating an international business you will find that this bank offers processing of standard payments in all of major currencies of the world on the same day and will not charge extra commissions. The bank staff will work closely with you to help you to achieve your business and financial goals.

Corporate accounts with this bank are all multi currency as standard so there is no need for currency conversion when payments are received. A major benefit for your business is that you will be able to make payments in over 90 different currencies thanks to their wide network of correspondent accounts. If you want express payments to be made in either Euros or US Dollars then this can be done in an hour.

When it comes to asset management the subsidiary of the bank can assist with their wide range of capital management services. You will be offered long term investment opportunities which are stable from the asset management company. The company are very competent and use innovative analytical models that take advantage of the integrated platforms at the bank.

You will be looked after personally by the asset management company and they will want to discuss your financial goals and then provide a tailored solution for you. Immediately after making your investments, you will be granted 24/7 access to reports. If you want to augment your investments at any time you can do this and you will find the whole investment process completely transparent.

The asset management team has a number of connections with other professional investment managers and they will make sure that your capital assets will grow in a stable way. There will always be a high priority on the management and diversification of your assets.

You will be able to access your corporate account from anywhere 24/7 through the use of the bank’s highly secure online banking service. All you need is a computer or mobile device and access to the Internet. The service is very convenient and reliable and the security conforms with the very latest international bank security standards.

Whatever you need to do in your corporate account you can do with the online banking system. From reviewing your account balance to viewing your most recent transactions and obtaining statements. You can make payments using the service and when your investments are in place you will be able to monitor these as well.

The bank also offers a full range of payment and credit cards branded by MasterCard and Visa. The cards offer many attractive benefits to cardholders and these include discounts at restaurants, flight and travel discounts and in some cases access to VIP lounges at airports.

The minimum deposit required to open a private bank account with this bank depends upon which country you live in.  If you are a resident of an EU member country, China (includes Hong Kong), Singapore, the CIS, the OECD, Montenegro, Andorra, Georgia, Liechtenstein, Macedonia or Serbia and then you will be included in Plan A. If you reside in another country then you will be in Plan B.

For Plan A clients the deposit required as a minimum will be 5,000 EUR and you will also have to maintain a balance of at least 5,000 EUR at all times in your account. Plan B clients have to make a minimum deposit of 10,000 EUR and your account balance will have to be maintained at a minimum of 10,000 EUR the whole time.

Important Note: Corporate accounts can be opened for offshore companies only if it is a holding company. Also companies which are owning courts and carrying out shipping or trading (wholesale trade) which buys and sells goods and trades in euro, and the beneficiary has a similar resident business.

The commissions that are levied by this bank can change at any time. It is essential that you check the current fees with your professional Offshore Pro Group international banking professional. The professional will provide the right guidance so that you can achieve the very best deal.

You Must Follow This Process In Order To Open A Corporate Account At This Latvian Bank

To be sure of success when it comes to opening a foreign corporate account with this Latvian bank it is vital that you go through the following steps in order:

  1. Make contact with us via email [email protected] and we will use our vast experience in international banking to assist you to open a non resident corporate account with this bank in Latvia. After contacting us, please read this page very carefully and take the time to provide the necessary responses Choose A Non Resident Bank Account That Is Right For You With This Free Professional Advice.

In the modern world the holding of only one international bank account could be risky and a second account is a very good decision. Please read the reasons why you must consider a second foreign account.

  1. Our professional experts will provide their assistance to you so that you can open a new non resident corporate account at this bank in Latvia, for our services we will require you to pay a charge of 599 EUR. The payment options here are Bitcoin, Money Gram, Western Union, bank transfer, Web Money and credit cards.
  1. The bank demands that the beneficial owner and all those that will be account signatories to supply certified documentaion in English (or translated into English) for the opening of a corporate account. Please supply:
  • Copy of photograph and signature passport page or national ID card copy
  • A utility bill less than 90 days old which includes your full street address and your full name as proof of residence

The beneficiary must provide as many of the following certified documents in English as possible:

  • A description of your business
  • Your CV
  • A proof of address document not more than 90 days old
  • A reference from a professional or employer
  • Copies of academic achievements
  • Employment record book copy
  • Details of your income (dividends and salary)
  • A current taxation return
  • Land Registrar Certificate extracts issued by the appropriate authority
  • Shares and interests confirmed on corporate register
  • Details from custodians and other public and private regsitrars
  • Any company partner agreements
  • Donation proof and evidence of accession in heirship
  • Credit institution references
  • References from banks
  • Public source beneficiary information
  • Other documentation considered relevant

The following certified corporate documents must also be provided:

  • Copy of Certificate of Incorporation / Commercial Registration
  • Certificate of good standing (if the company is older than 12 months)
  • Articles and Memorandum of Association or By Laws
  • Subscribers appointment of the company’s directors
  • A power of attorney for opening and management of the account if the person’s rights to open / close an account are not clear form the constituent documents of the company
  • Copy of Deed of Trust (in the case of Nominal Shareholder)

Important Note: Your attendance at a meeting with a representative of the bank is required before you can open a corporate account. The meeting can be held in Latvia or it might be possible to meet with a banker in the EU or the CIS as they do travel a lot.

Prior to opening a corporate account with this bank it is recommend that you visit them personally in Latvia. This is not a mandatory requirement but a personal meeting will always go down well and should make the opening of your corporate account a lot smoother. You are encouraged to schedule a meeting in advance. Direct flights to Riga from the majority of European cities are readily available.

Please send all of your documents to us and then we will inspect them and quickly send them on to the Latvian bank. You have to set up a meeting with the bank staff and once this is conducted please allow the bank 7-10 business days for your foreign corporate account to be operational and ready for your use.

Start the non resident corporate account with this Latvian bank opening procedure now by contacting us first using this email address [email protected]