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Bank account in Latvia in 2020

Buy bank account in Latvia in 2020: TOP Banks

2020-01-08
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The purchase of an account is a mandatory condition when registering a company or offshore in Latvia. Opening an account for non-residents is relatively difficult, as financial institutions want to make sure the client is reliable. Buying an account in Latvia in 2020 is beneficial, given that as the country's banks offer attractive tariffs, and there is an opportunity to manage funds remotely. It is also possible to create multi-currency accounts.

How to open an account in a Latvian bank

The procedure of account creation in the country has many advantages. A non-resident can use the services of the bank. There are no restrictions on the number of transactions, and money can be used remotely. Many banks offer services in English and Russian.

Before buying an account in Latvia, you must choose a financial institution that works with non-residents. These instituions are subjected to the most stringent requirements, as the institution must ensure that the client does not finance prohibited organisations or launder money.

It may be necessary to provide documents that prove the origin of the money. It is important that the business area is suitable for the financial institution.
Information about the beneficiaries of the firm, including information about political significance, should be provided. The full list of documents to open an account may vary from bank to bank.

Usually the following documents are requested:

  • Articles of Association and registration documents;
  • Reference from the registry;
  • Passports, ID-cards;
  • Proof of legal capacity of the company.

A financial institution may request additional information. Often the opening of a bank account is financed, so many institutions do not impose conditions for the smallest amount of money the account has. Usually the decision to create an account is made about in 10 days. You can learn more about the nuances of account creation in Latvia from our experts at IT-OFFSHORE.

The advantages of working with financial institutions in Latvia

The main advantage of opening an account in Latvia is that it can be created both for private clients and legal entities. Many banks work with offshore companies, and it is possible to open an account promptly.

The state is a member of the EU, so it is respectable to create an account in one of the banks of the jurisdiction. The institutions of the country work on the international level. It is possible to create multi-currency accounts and work with different currencies.

TOP-10 well-known banks

One of the well-known banks is ABVL Bank. It is the largest private bank in the country and is among the best ones. It works with individuals and companies and offers favorable conditions for opening deposit accounts. It is possible to apply remotely. The organization was founded in early 90s.

Baltikums Bank is a developing independent financial institution. The bank was founded in the early 1990s and serves citizens not only in Latvia but also in other countries. The Bank has established itself as a reliable bank, offering favorable rates for private clients, companies, and offshore.

Citadele Banka is a structure that offers services for corporate and private clients. It is possible to create a multi-currency account. The bank draws up all types of cards, you can get a loan, the organization provides a convenient service through Internet banking. Russian language support is offered. To successfully open an account, you need to sign an agreement on the disclosure of data related to the functioning of the company.

Norvik Banka S.A. is a well-known bank, which serves more than 100 thousand people. It has many branches in Latvia and offers a convenient internet bank. The services are offered to private clients and corporations. The bank uses a multi-level security system to protect the client's funds.

Rietumu Banka was founded in the early 90s and is considered one of the largest financial institutions in the Baltic States. It serves clients from different EU and CIS countries. There is the staff that speaks Russian. The institution holds leading positions in the sphere of corporate clients servicing.

Pasta Banka has been operating since the end of zero years. The institution provides a wide range of services, there is the staff that speaks Russian. Tariffs for service are relatively low.

Swedbank provides many services for legal entities and individuals. For natural persons, the institution offers a wide range of loans with special conditions for different categories of the population.

DNB bank branches are represented in 18 countries. The institution provides a wide range of services for individuals. Leasing, lending, and business products are offered to companies in order to increase the efficiency of asset management.

Baltic International Bank is focused on individual work with clients. For legal entities, it offers services such as financing, issuing loans, opening accounts, payment cards, etc.

SEB Bank is considered one of the best-known banks and provides services to legal entities and private clients. The Group has been operating in the world market for over a century and over this period of time, the bank has gained the trust of more than 1,000,000 clients.

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