Bank account opening in Latvia
In Latvia bank accounts are subject to bank scrutiny and some real business shall be present. However few Latvian banks offers the possibility to open a bank account for the foreign company and individuals.
In that case there are several documents that need to be presented to the bank.
For opening of the account for non-resident individual following information is required:
- a valid passport or National ID card;
- Curriculum Vitae;
- proof of residence;
- documents that prove your material status (for example: account extracts for last 3-6 months);
- information why account in Latvia is required;
- information relating to the expected turnover.
For opening of the account for the non-resident company following information is required:
- an official extract from the Enterprise Register where the company is register confirmed by the Enterprise Register appropriate manger signature and issued before max 6 month;
- an Articles of association;
- documents, confirming the authority to open and manage company accounts e.g. a Power of Attorney, Extract from the Enterprise Register, Resolution, Minutes etc.
- information about beneficiary;
- a detailed description of the proposed business activity;
- information relating to the expected turnover;
- information relating to the expected clients and suppliers;
- documented evidence relating to source of funds -account extracts for last 3-6 months;
- information why account in Latvia is required.
The bank has rights to ask for an additional information.
English speaking lawyer the Gencs Valters Law Firm in Riga, practising in fields of Banking law in Latvia, Estonia and Lithuania.
T: +371 67 240 090
F: +371 67 240 091