News: Open an account in Latvia

Opening a bank account in Latvia

Latvian banks are characterized by stability and security. The exchange rate of the national currency almost does not fluctuate, which makes it possible to invest money in accounts without risk. Opening bank account in Latvia is associated with a large number of nuances which can be easily avoided using our company's services.

Law&Trust Company comprises professional team specializing in solving legal issues. We facilitate registration of companies, as well as opening of international accounts to citizens of Kazakhstan, Russia, Ukraine and Belarus.

How to open bank account in Latvia for non-resident?

Before opening account abroad it is necessary to be aware of the advantages of the banking system of a particular country. Latvia has the following advantages:

• All accounts are multicurrency;
• Single IBAN number is assigned when opening the account, which helps in the identification of payment throughout Europe;
• The transferred funds are kept on the account without conversion into local or other currency;
• Transactions are carried out on a same day basis, and transfers can be made not only in the euro coverage area, but also in any other countries.

Documents for opening account in the bank of Latvia for non-resident companies

1. Statutory and registration documents of the company.

2. Documents confirming that the applicant for opening the account has the right to manage the company's finances, and such include: extract from the minutes, certificate from the Register, power of attorney and others.
3. Passport, TIN, confirmation of the place of residence.

The list of documents required for natural persons to open the account is limited to passport and TIN. It is worth noting that each bank has its own requirements for its clients, so that the list of documents may vary. Personal presence is most often required for opening account in Latvia, but certain banks have representative offices in the CIS countries, which simplifies the account opening in the bank of Latvia.

Contact the experts of Law&Trust for advice on all issues and assistance in opening account in the bank in Latvia for non-resident client.