Apr 14, 2017

Non Resident Corporate Account With A Latvian Bank That Is Strongly Regulated, A Multiple Currency Account As Standard And No Minimum Deposit.

The Offshore Pro Group has experienced professionals in international banking that can guide you in the setting up of a new non-resident corporate account with this bank in Latvia. A corporate account with this Latvian bank is a good decision as:

  • A European bank that is strictly regulated
  • Choice of account opening in Latvia, Czech Republic or Cyprus
  • Corporate account will be multiple currency
  • Minimum account deposit not required
  • Fast account opening
  • Availability of brokerage services
  • Convenient credit cards can be applied for
  • Secure Internet stream banking service
  • Account protection from EU Deposit Guarantee Scheme

Start right now by sending us over an email [email protected] so that we can connect with you and begin to offer you all of the professional help you need to successfully open your Latvian corporate account with the bank. We need to know as much about your situation as possible in order to provide the best service so please take the time to complete the questionnaire on this page (totally confidential) Making The Right Decisions With International Private Bank Accounts – The Expert View.

Latvia As An International Banking Jurisdiction

Latvia is in Northern Europe and is one of the Baltic States. The latest figures suggest that there are over two million residents in Latvia.  It is a democratic nation and is governed by a parliamentary system. Latvia uses the Euro (EUR) as its official currency and it became a member of the European Union (EU) back in 2004.

The World Bank has deemed Latvia to be a high income nation and it appears on its list of high income countries. The GDP per capita of Latvia is around $25,740 which is why it is on the World Bank list. The economy of Latvia is developing well and it has grown since the financial crisis of 2008. It is one of the highest growing economies of all countries that are members of the EU.

The Latvian government are determined to make the country more transparent when it comes to financial services. It has agreed with the Organization for Economic Cooperation and Development (OECD ) that it will comply with all of the conditions of the Automatic Exchange of Information (AEoI) program.

Building the reputation of Latvia as a well respected financial center internationally is a requirement of the government of Latvia. It has set up the Financial and Capital Market Commission (FCMC) to be its regulator of financial institutions and banks in the country, and the FCMC has been regulating banks very closely to ensure that they comply with all international banking standards.

There is zero tolerance of illegal financial practices in Latvia such as money laundering and funding of terrorism. These activities have been totally eradicated by the government and the FCMC by implementing stricter laws and the stringent enforcement of them. There are now much stricter penalties for banks that violate these laws. Now the penalties have risen from 10% of the net income of a bank to 10% of the total turnover of the bank. A maximum penalty of 5 million Euros is now in place which supersedes the previous maximum of only 140,000 Euros.

These measures have already significantly improved the worldwide perception of Latvian banks. There is no room for illegal financial activities now. A few years ago concealing assets in Latvia was possible but now it is impossible. Now Latvian banks offer a very secure place for your assets and for their diversification and growth.

All Latvian bank accounts will fall under the protection of the EU Deposit Guarantee Scheme as they are a member of the EU. With all of the strict regulations in place there is virtually no chance of a Latvian bank defaulting, but should this happen then the Deposit Guarantee Scheme will protect investor accounts with coverage up to 100,000 Euros (EUR). More information about the EU Deposit Guarantee Scheme is available from your Offshore Pro Group consultant.

This Bank In Latvia For Your Non Resident Corporate Account

The bank opened in 1991 and is an international bank that is one of the oldest in Latvia. They opened another branch in 2010 in Cyprus and in 2014 an office in Hong Kong was set up. The main focus of this bank is stability, professionalism and reliability and it prides itself on providing a secure place for client assets and the delivery of the highest quality financial services.

So that the bank can maintain long term development it is constantly reviewing its compliance control systems as well as its management processes. It will not just accept any clients and is very choosy about its customers. In 2015 the bank recorded some impressive stability figures with a capital adequacy ratio of 44.73% and a 108% liquidity ratio.

Moody’s, the international ratings agency, has assessed the bank for its liquidity ratio and capital adequacy and its overall risk policy and awarded a B1 rating for this Latvian bank commending their fitness for long term operations and future outlook. This rating compares favorably with other international banks in the country.

The bank has a vision to be a reliable and innovative partner for all of its clients. It has developed a mission to assist with client growth through the provision of the best financial services, financial resources and the best professional advice. This bank is both a modern and efficient institution and the bulk of its revenue comes from the provision of the best in class service to its clientele.

Corporate Account Services And Asset Growth Services You Can Expect From This Latvian Bank

This bank in Latvia will not permit the opening of a non resident corporate account remotely. The Offshore Pro Group will provide the right advice and guidance to you to open your corporate account but you will be required to travel to Latvia, the Czech Republic or Cyprus to meet with an official of this bank before an account can be established. All of the services offered by the bank will be available to you after account confirmation.

For professional clients the bank can offer its brokerage service. To use this service you will need to have experience and knowhow in the trading of financial instruments. A trading account will be established for you if this is the case. The bank’s service for brokerage includes coverage of the full range of major global markets and international capital markets.

You can have access to local and international fixed income bonds which include Eurobonds, USA markets and Asian and European markets that concentrate on emerging markets. Structured financial products will also be made available to you and these include secondary market products as well as the banks own customized products.

There will also be the opportunity to trade options, ETF’s and equities through over one hundred different exchanges across five continents. You can also trade futures and options in currencies, equities, commodities and interest rates via the largest OTC markets and derivative exchanges.

You will have access to professional trading platforms which will provide you with 24 hour a day access to all exchange traded products like futures, options and equities. All of the technical analysis tools that you need to make successful trades are included with the platforms. In addition there are margin trading facilities, financial leverage, risk hedging facilities and short selling facilities. Client support that is tailored is available and this includes analytics, up to the minute trading ideas, market data and news.

With the banks experienced professionals and the strong partnerships that the bank has with financial institutions across the world, you can virtually be assured that any trading strategy can be implemented. Customer service managers at the bank will be pleased to assist you with any questions you may have about opening a trading account.

Multiple currency current accounts are available for your corporate account and this means that major world currencies will be automatically converted in your account. There is no requirement to open different accounts for different currencies.  You can make an application for either a standard or gold credit card which is branded by MasterCard. The card accounts can be in US Dollars (USD) or Euros (EUR). With these cards you will be able to make very secure payments wherever MasterCard is accepted. You can use millions of ATM’s across the world to withdraw cash as well.

The bank provides an online banking service which is very secure and will provide access to your corporate account 24/7 no matter where you are in the world. When using the service you can request statements, check account balances, convert currencies and transfer funds and more. There are also guarantee, trust and escrow services available from this bank.

Important Note: This bank will not open corporate accounts for businesses in the adult industry.

To open a corporate account there is no minimum deposit required to be made with this bank in Latvia. They will also not require you to keep a minimum balance in your account. However it is a good idea to keep a small amount of funds in your corporate account so that all bank charges can be covered.

There will be commissions charged by this bank in Latvia for processing transactions and maintaining your corporate account and you need to be aware that these commissions can change. Your professional at the Offshore Pro Group has the most current schedule of commissions so please request these to be sent to you. If you require our help in achieving the most preferential commissions then we will be glad to assist you.

These Instructions Must Be Followed So That You Can Be Sure Of Opening Your Non Resident Corporate Account With This Bank In Latvia

The instructions that are presented below have been proven to work in the opening of an international corporate account. Please take all of the actions in the order shown:

  1. Action number one is simply to contact us through email [email protected] and then we will start work by assisting you with all of the necessary steps to open your corporate account with this Latvian bank. Action number two is to provide us (in total confidence) with all of the information we require to provide our services professionally to you. Please answer the questionnaire in full here This Expert Advice Will Help You To Choose The Right International Corporate Bank Account.

With a single non resident corporate account you could be exposed to risk. You can reduce these risks by opening an additional corporate account. It is all explained here an additional non resident corporate account will reduce your risks.

  1. You will definitely require our expert services to open an international corporate account with this bank and we will be delighted to assist you for a one-off payment of just 599 EUR. Credit cards, Bitcoin, Web Money, Money Gram, bank transfers or Western Union are all payment choices for you.
  1. Please supply the following documents in Latvian, Russian or English (or translations into one of these languages that have been notarized) to open your corporate account. Authorized persons, account signatories and beneficial owners must supply:
  • A passport which has a signature and photograph page
  • A document which verifies power of attorney (if this applies)

A full set of corporate documents must also be provided:

  • Legal entity registration document e.g. Certificate of Formation (incorporation) which bears a seal of the state
  • Copy of Articles of Association
  • Copy of shareholders register or other document which verifies owners of the company
  • Copy of the meeting minutes which verify power of attorney
  • A good standing certificate for companies that have existed longer than 12 months

Important Note: You will need to make the necessary arrangements to meet with bank officials in Latvia, the Czech Republic or Cyprus before your international corporate account can be established. This bank will not open non resident corporate accounts remotely.

All of the requested documents need to be sent to the Offshore Pro Group first so that we can verify that they meet the requirements of the bank. They will then be quickly sent to the Latvian bank. Once the documentation is in place and your meeting has been held, this Latvian bank will need about 5 working days to open your international corporate account.

All that is needed to start the process of opening your non resident corporate account with this Latvia bank is for you to send us an email [email protected]