Our Law Firm performs all the necessary activities to help the clients to open bank accounts in Latvia for performing their business activities in Latvia.
The main requirement for opening the bank account in Latvia is to clarify the origin of the funds. That can be done in accordance with the recommendation of the Financial and Capital Market Commission and different documentation.
Type of income
- Clients can have the following types of income, what can be supported with the respective supplementary documentation;
- Accruals from work income.
- This type of income can be supported by one of the following documents - notification regarding income, Employer`s notification regarding income, notification from Credit institution, what shows the amount of remuneration received from the Employer. In case the person is self-employed – the possible supporting document is bank account excerpt for last few month;
- Income from investment or request of means payout.
- To prove the origin of the funds, clients have to submit letter or notification from the previous investment company regarding the payout of the funds and the amount of the funds, or any other document accordingly with the situation.
- Selling of the shares can be supported with the legal documents of the sale or any other document accordingly with the situation.
- Selling of the property.
- As supplementary document in this case can be Sales agreement or notification from the public property register.
- Selling of the company or company shares.
- The income gained in the transaction of selling of the company or company shares can be supported by the copy of the Agreement, Credit institution notification regarding payed in funds, or any other document accordingly with the situation.
- Inheritance - can be supported with the Credit institution notification or documents proving the receipt of inheritance.
- Loan - can be supported with the Loan agreement or any other loan confirming document.
- Gift - can be supported with the Gift agreement or any other document accordingly with the situation.
- Company profit.
- The origin of the funds gained as profit of the company can be supported with the bank account excerpt, respective officer`s letter with confirmation and description regarding company`s profit in the last two years or audited annual reports for the last 2-3 years.
- The origin of the funds gained as dividends can be supported with the annual report or Order, decision or other document regarding the payout of dividends.
- The origin of other means can be supported with corresponding documents what prove the origin of the funds.
If the sum of the funds exceed 300`000 euros, 3 approving documents are required.
Therefore our Law Firm unburdens the procedure of the opening of the Bank account in Latvia for the clients.