Sep 29, 2016

You Can Open A Personal Account In A Latvia Bank Which Is Well Regulated, Offers A Multi Currency Account And Has No Minimum Deposit.

The international banking experts at Offshore Pro Group offer you the capability to open a non resident private account in Latvia with a bank where these benefits can be enjoyed:

  • Well regulated European bank
  • Multi currency account as standard
  • No minimum deposit
  • Fast account opening
  • Comprehensive range of services for asset growth and diversification
  • Highly personalized service
  • EU Deposit Guarantee Scheme

Send an email now to [email protected] and we will provide you with expert guidance to open a personal account with this Latvian bank. We strongly suggest that your first step is to answer the questions that you will see on this page Free Expert Counselling On Making The Right Choice Of Offshore Or Foreign Bank Account.

Latvia As An Offshore Banking Jurisdiction

The Republic of Latvia is situated in northern Europe in the Baltic region. It is a democratic parliamentary republic with a population of just over 2 million people. It is a member of the European Union (since 2004) and uses the Euro as its currency.

Latvia is included on the World Bank’s list of high income countries. This indicates that their economy has a gross national income per capita above $12,475. Latvia has a strong economy and this has rallied since the financial crisis is 2008/2009 with their GDP per capita rising every year since 2011. It has one of the fastest growing economies in the European Union.

The Government of Latvia has agreed with the OECD to commit to the Automatic Exchange of Information (AEoI) program to provide greater banking transparency. This means that information about financial institutions, due diligence procedures, reportable income and reportable accounts will be furnished by the Government of Latvia.

The Government is keen to enhance the reputation of its international banks and the financial regulator of Latvia which is the Financial and Capital Market Commission (FCMC) is strengthening the supervision of financial institutions and is carrying out large scale tests.

The FCMC have significantly tightened the laws related to illegally acquired funds to support terrorist financing and money laundering activities. There are now much stiffer penalties in place and the maximum penalty for violations has now been increased from 10% of the net income of the bank to 10% of the total turnover of the bank. Before the maximum penalty was only 142,300 EUR and now it has been raised to 5 Million EUR.

All of this means that Latvia is positioning itself as an international banking center for totally legitimate activities. It may have been known as a place where money could be hidden in the past but this is no longer the case. It is now a good choice of jurisdiction for the protection of your assets, diversification and growth.

Being an EU member state it is also able to offer the Deposit Guarantee Scheme where the aim is to ensure coverage to protect bank deposit investors. If a bank defaults and cannot meet its payable obligations then the scheme provides a guarantee to cover deposits made by clients up to 100,000 EUR. You can find out more about the Deposit Guarantee Scheme from your professional international banking professional at the Offshore Pro Group.

The International Bank In Latvia

This international private bank in Latvia was founded in 2001. The bank was founded by four entrepreneur friends, Aleksandrs Peskovs, Sergejs Peskovs, Olegs Cepujskis and Andrejs Kocetkovs. Prior to starting the bank they were successful in the international shipping and logistics industry. The bank is still owned by the four founders and their families today.

The founders have set the mission for the bank to put the interests of their clients first through total professionalism and personal respect for clients. The bank will always strive to transform itself to meet the highest standards of international banking and it welcomes change. The bank hires the very best people so that it can provide the most professional services to its clients.

There isn’t a minimum deposit requirement to open a personal account with this bank which is a major benefit. We do advise that you provide a small deposit to cover bank charges and you can discuss this with your Offshore Pro Group international banking consultant. Once you have opened a private account you will be able to enjoy a wide range of other financial products to safeguard and grow your assets.

Protecting Your Assets With This Private Account In Latvia

This bank will allow foreign clients to open a private account for the protection, diversification and enhancement of their assets. It can provide settlement operations in multi currencies and offers a wide range of financial and advisory services. It will work closely with you to provide a tailored solution that will assist you in the achievement of your financial goals.

Your private account with the bank will be multi currency as standard and there will be no requirement to convert currencies for payments received. The bank has a strong network of correspondent and partner banks that numbers over 100 entities. You will be able to make payments in the major currencies of the world and be assured that the funds will arrive at their destination quickly.

The bank will provide advice on investments to grow your assets. They will choose the best investment solutions that are relevant to your specific requirements. The bank will take global economic development trends into account and propose efficient financial instruments that will provide a level of risk that is totally acceptable to you.

The bank will recommend trading platforms and financial instruments that will suit your investment style as well as your appetite for risk and other factors. If you are looking for guaranteed income, hedge against inflation or protect your estate and guarantee an efficient inheritance process then the bank can advise you on the best investment strategy.

You can take advantage of various term deposits, fiduciary deposits and savings accounts that will be on offer. You will also have access to fixed income instruments such as government bonds, developing country bonds, stock bonds and corporate bonds that have all been vetted by the bank. There are also alternative investment strategies available such as real estate, direct investments, commodities and hedge funds.

The professional investment management team at this bank and their associations with premier investment managers will provide you with stable asset accumulation. Management of assets and diversification of investments is also a high priority.

The bank will provide secure and reliable remote access to your account through their e-banking service. This is a state of the art service which is convenient and reliable and provides account management to you 24 hours a day. Data security with this Internet banking service complies fully with international security standards.

With this Internet banking service you can see the transactions and the balance of your account, transfer funds, open and use deposit accounts, open and use savings accounts, perform currency exchanges and connect with your private banker who will provide you the answers to any questions that you may have.

A range of payment cards are available from the bank which include MasterCard and Visa credit cards and Maestro debit cards. These cards can be provided in Euros (EUR), British Pounds (GBP), US Dollars (USD) or Russian Roubles (RUB). These payment cards are very secure and have the latest DDA microchips built into them.

There is no minimum deposit required to open a private bank account with this bank. This is rare and a valuable benefit as many other offshore banks will require hefty minimum deposits to open foreign bank accounts.

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 consultant. Your consultant will provide advice and guidance so that you can achieve the most preferential rates.

The Procedure You Must Follow To Open An Account With This Latvian Bank

In order to be successful in opening a non resident private account with this bank in Latvia it is important that you precisely follow this process in the right order:

  1. Use email to contact us [email protected] for completely professional guidance on opening a private account in Latvia at this bank. We suggest that you read and answer the questions on this page in full Free Expert Guidance On The Correct Choosing Of A Non Resident Bank Account.

It is so important that you fully appreciate the risks of offshore banking in today’s environment and strongly give thought to the opening of a secondary offshore account.

  1. Complete professional support will be provided to you for the opening of a private account in this Latvian bank, and you will be required to pay a fee of 499 EUR for this. We are able to accept a payment by bank transfer, credit card, Bitcoin, Money Gram, Web Money or Western Union.
  1. It is a requirement of the bank that all proposed account signatories and the beneficial owner supply comprehensive and certified documentaion in English (or translated into English) to open a private account. This will include:
  • Copy of passport page with photograph and signature or copy of national ID card
  • A proof of address document such as a utility bill which clearly states name and address that is less than 3 months old

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

  • A personalized CV
  • A utility bill not more than 3 months old
  • A professional reference from an employer or professional
  • Copies of academic certificates (diplomas etc)
  • Copy of employment record book
  • Income details (salary and dividends)
  • A recent tax return
  • Certificates of extracts issued by Land Registrar or other property registrars
  • Information from custodians and other public and closed regsitrars
  • Agreements with company partners
  • Documents that provide evidence of donations or accession in heirship
  • References from credit institutions
  • Bank references
  • Information about beneficiary from public sources (Internet etc)
  • Any other relevant documentation

Please note that the bank will require a personal identification procedure to take place in any of the representative offices of the bank in Latvia, Lithuania, Estonia, Cyprus, Ukraine, Luxembourg, Russia, Georgia, Kyrgyzstan, Kazakhstan or Azerbaijan.

After the submission of the required documentation we will examine everything carefully and rapidly pass them on to the bank. You will need to arrange to visit the bank and then allow 7-10 working days for your Latvia private foreign account to be ready for you to use.

Starting the process to open a private account at this bank in Latvia is easy, just contact us at [email protected]