Corporate Account With Bank In Latvia That Offers Investments, Accounts In Multiple Currencies, No Deposit Minimum And Is Strictly Regulated.
You will need the advice and guidance of the experienced professionals at the Offshore Pro Group to set up an international corporate account with this Latvia bank. A number of benefits are provided by this bank:
- Bank is in Europe and strictly regulated
- Multiple currency account will be provided
- Opening minimum deposit is not required
- Investment capabilities and trading platform and services
- Debit cards in multi currency and credit cards offered
- Remote account management through secure Internet banking
- Protection of the EU Deposit Guarantee Scheme for your corporate account
Contact us today using this email address [email protected] so that we can provide you immediate assistance from our seasoned international banking professionals. We can help you a lot more if you will provide full details of your current situation and aspirations by responding in full to this questionnaire All You Need To Know About Opening The Right International Corporate Account.
The International Banking Jurisdiction Of Latvia
You will find Latvia in the Baltic’s which are situated in Northern Europe. Russia, Lithuania, Estonia and Belarus all border the country. Latvia has been a full member of the European Union (EU) since 2004. A parliamentary system of government is in place and the country is a democracy. There are approximately 2 million citizens of Latvia at this time.
The World Bank has included Latvia in its world list of high income nations. The economy of the country is experiencing growth and it has bounced back after the 2008/09 financial crisis. The GDP per capita currently stands at $25,740 and Latvia is experiencing some of the fastest growth of all of the EU nations. Latvia is a socially and politically stable nation.
Financial transparency has been a problem in Latvia for a number of years and the government has been committed to change this for some time. It has now signed an agreement with the Organization for Economic Cooperation and Development (OECD ) to be a lot more transparent and abide by their guidelines.
Enhancing the country’s reputation as a leader in world banking is also an objective of the Latvian government. Laws have been changed to improve the situation and the government’s official bank and financial institution regulator, the Financial and Capital Market Commission (FCMC) has been empowered to control and monitor the banks to ensure full compliance.
No illegal monetary activities are allowed in Latvia. The FCMC has driven out illegal practices such as money laundering and terrorist funding. Laws have also been changed to stop illegal activities and the penalties for violations are severe. Penalties have been recently increased from 10% of the net income to 10% of the total turnover of the bank. A new maximum penalty of 5 million Euros replaces the old penalty of just 140,000 Euros.
The reputation of international banking in Latvia has significantly improved with the measures taken above. Illegal monetary activities have been wiped out completely. It is true to say that a few years ago Latvian banks were seen as places to conceal money but not today. Protection of your capital is certainly possible and so is diversification and growth, which makes Latvia a good choice of international banking jurisdiction.
When you open your corporate account in Latvia it will come under the protection of the EU Deposit Guarantee Scheme. This means that in the extremely unlikely event of a bank in Latvia going into default and being unable to meet its financial responsibilities, your account would have coverage up to a maximum of 100,000 Euros (EUR). If you want to know more about the EU scheme please ask your Offshore Pro Group professional.
Your International Corporate Account At This International Bank In Latvia
The bank was opened in 1992 and granted a license to operate as an international bank. In asset terms, it is the eighth largest bank in the country and is one of the most established banks in Latvia. Volumes of business have increased 25% since 2014, and in the early part of 2015 the assets of the bank were valued at more than one billion Euros (EUR).
A large group owns the bank and they also have banks established in the United Kingdom and Russia. The bank has experienced year on year growth and is now the largest bank in Latvia in terms of settlement office and branch count.
The bank is a believer in delivering the very highest service levels to clients and has actually won awards for this from renowned institutions like Commerzbank AG and Deutsche Bank. There are two key values that the bank lives by and these are the delivery of the best service levels and the overall satisfaction of its clients. The bank provides financial services to international corporations down to personal individuals both in Latvia and on an international basis, and their base of clients is now larger than 150,000.
Over the years the bank has been hard at work establishing robust correspondent partnerships in order to serve the needs of its clients. Some of the more famous correspondent partners that they have are UBS and Credit Suisse. This bank will provide investment services and general banking services to you. The professionals at the bank will want to get to know you and fully understand your business and financial aims so that they can recommend the best package of financial services to you.
The General Banking And Investment Services Offered By This Latvian Bank
The experts at the Offshore Pro Group will assist you with the opening of your non resident corporate account in this Latvia bank. There is a requirement that you visit with bank officials in Latvia, Russia, Kazakhstan, the United Kingdom or the Ukraine for an identification verification meeting. To open an international corporate account you will have to pay commissions to the bank upfront. Your Offshore Pro Group consultant can provide more details on this for you.
Financial market trading services are available from this bank. The bank has a lot of experience in the markets and you will have access to continual advice and support on the best types of trades to get involved in. Trading can take place in futures, stock options, shares, exchange traded funds and bonds.
If you want to trade on the FOREX market then there are leveraged or margin accounts for trading available. You will need to make a minimum deposit of 1,000 US Dollars to open a margin account and all accounts are in US Dollars. Standard market orders like Limit, If Done, Stop and so on can all be traded with this account.
If you want to trade on the stock markets then an advanced trading platform is available from the bank. Real time access to the stock markets of the world will be provided and trading can take place 24 hours a day. The platform will also allow you to manage your portfolio and provide the necessary technical analysis for trades.
You will have a current account associated with your corporate account and this will have multiple currency capabilities so that settlements can be made in Euros (EUR), US Dollars (USD) and various other major world currencies. There is no necessity to have other accounts opened for the holding of these different currencies. With your current account you can convert currencies, use different currencies to transfer funds and make deposits and withdrawals.
If you want to earn interest through deposits accounts there are a number of options available. The periods of deposit range from a single day to five years. Attractive rates of interest will be earned through these accounts and they are available in either US Dollars (USD) or Euros (EUR). There is a choice of deposit accounts which are advanced deposit, premium deposit, investment deposit or a savings account where withdrawals and deposits can be made anytime and the balance of the account will attract interest.
Debit cards branded Maestro or Visa Electron can be obtained from the bank. These debit cards are in multiple currencies and you will be able to use them for payments and ATM withdrawals worldwide. Currencies available are Euros (EUR), Russian Roubles (RUB), British Pounds (GBP) and US Dollars (USD). A debit card branded Cirrus can also be applied for but this is for cash withdrawals only.
MasterCard and Visa branded credit cards are also on offer. You can apply for a classic or standard card, a gold card or even a platinum card. MasterCard and Visa are accepted as a form of payment in over 24 million establishments around the world. The three different cards all provide different benefits and will have different conditions attached to them.
You will be able to remotely access and manage your international corporate account 24/7 thanks to the sophisticated online banking service that is provided by this bank. With this service you can make notes on your account as well as make transactions and check account balances and view statements. The purchase of investment products can also be achieved through this Internet banking service.
A minimum deposit to open your international corporate account is not required by this bank in Latvia. They also do not have a requirement that you maintain a minimum balance in your account. We do advise you to keep some funds in your account to ensure that all bank charges will be covered.
The upkeep of your corporate account and the transactions that you make will attract bank charges and these can change regularly. Please make contact with your international banking professional at the Offshore Pro Group so you can be provided with the latest charge schedule. Should you wish us to assist you in obtaining preferential bank charges for your corporate account we will be pleased to help you.
This bank will not accept offshore companies for the opening of corporate accounts.
Corporate accounts will not be opened for residents of Anguilla, Belize, the Bahamas, British Virgin Islands, Bouvet Island, Antigua and Barbuda, Dominica, the UAE, Guernsey, the Cayman Islands, the Marshall Islands, the Isle of Man, Panama, Papa New Guinea, Saint Vincent, Saint Lucia, the Seychelles and Saint Kitts and Nevis.
To Be Sure Of Opening Your Non Resident Corporate Account Please Follow These Instructions
All that you need to do to be sure of opening your non resident corporate account with this bank in Latvia is detailed below. Please take the actions indicated in order:
- Your initial action is to make contact with the Offshore Pro Group using email [email protected] and we can then begin to provide you with the expert assistance that you will need for your corporate account to be opened. Then we will require more information from you so please answer the questions presented (in total confidence) on this page Make Sure You Choose the Right International Corporate Account By Following This Expert Advice.
You will be faced with a number of risks if you only open one non resident corporate account. The solution to this is to open a second non resident corporate account. For reasons please read prevent risk by openeing an additional non resident corporate account.
- The Offshore Pro Group will provide the necessary professional assistance that you will require to establish your international corporate account. In order for us to provide this expert help please make a payment of 599 EUR. We can accept payments made through credit cards, Western Union, Bitcoin, Money Gram, bank transfer and Web Money.
- A number of ducuments that have been notarized and Apostilled will have to be supplied to open a corporate account. The documents must be in Latvian, English or Russian (or notarized translations). The beneficial owner, authorized persons or account signatories must supply:
- Notarized copy of an ID card or passport
Other documents to be provided by the beneficial owner:
- A business plan or brief description of the business mentioning any partners and associated websites (if this applies) – this is mandatory
- Curriculum Vitae
- Proof of address document (utility bill, bank statement etc)
- A professional reference (occupation, employment, profession)
- Academic certificates
- Employment record book
- Income details
- Tax return
- Certificates of extracts from property registers
- Corporate register certificates including interests and share details
- Custodians and public / closed registers information
- Company and partner agreements
- Heir ship and donation evidence documents
- Credit institution references
- Any beneficiary from public sources such as the Internet
- References from banks
Corporate documents must also be provided:
- Commercial registration or incorporation document
- Good standing certificate (if older than 12 months)
- Partnership agreement
- First meeting minutes
- LP5 registration form
- Power of attorney document for account management (if applicable)
- Deed of Trust if there are nominal shareholders
- Certificate of Incorporation or Formation
- If company is over one year old then good standing certificate
- Articles and Memorandum of Association
- First director appointment
- Share certificates
- Account opening / managing power of attorney document (it this applies)
- Copy of deed of trust if there are nominal shareholders
You will need to arrange and attend an identification meeting with the bank officials in Latvia, Russia, the United Kingdom, Kazakhstan or the Ukraine. Send all of the documents to the Offshore Pro Group so that they can be examined for compliance and then forwarded to the bank. This Latvian bank will then need between 5 and 7 working days to have your international corporate account ready for your use.
Now is the time to set up your new non-resident corporate account with this bank in Latvia so send an email now to us [email protected] so that we can start immediately.