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Services · Business accounts

Business accounts: Latvia

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Corporate account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Company formation · Personal account · Investment property · All country programs

FAQ

Can a foreign company open a bank account in Latvia?
Legally yes, but since the 2018 clean-up Latvian banks rarely take companies with no link to Latvia or the EU. Your odds improve if the business has real operations, counterparties and turnover in the region. A shell holding with no economic substance will almost certainly be turned down.
Do I need a local director for a Latvian corporate account?
The law does not require a resident director, but the bank looks at how the company is connected to the country. A local director, office, staff or Latvian clients materially improve your chances. Without any of that you will have to explain why you need an account here at all.
What does a Latvian bank ask for during onboarding?
Ownership down to the ultimate beneficial owner, a description of the business, main counterparties, payment corridors and expected volumes. Expect to hand over contracts, invoices, financials, often statements from your previous bank and proof of where the capital came from. The answers are checked against actual traffic later, and mismatches lead to queries or a freeze.
What are my options if a Latvian bank says no?
Rejections are rarely explained and there is no real appeal - the decision stays with the bank. The usual next steps are other banks in Latvia or Lithuania, or an EU licensed payment institution with SEPA details. An EMI opens faster but it is not a bank: no deposit guarantee and no credit.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your company's chances with specific banks, prepare the compliance file and give you honest timelines. Leave your details and a corporate banking expert will get back to you. The first consultation is free.

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