Question Latvia IBAN / Non-resident

[CaLViN]

Hello,
We need a personal IBAN from LATVIA.
Prefer EMI instead of Banks for easyness.
Do you have any suggestions ? I could not find any.
Thanks in advance.

 

[JohnnyDoe]

Forget about Latvia. Legalized fraud.

 

[CaLViN]

I have been working with Latvian banks since 2009 so i know the ups and downs.
Latvian IBAN is a necessity for us at the moment.

 

[JohnnyDoe]

I have been working with Latvian banks since 2009 so i know the ups and downs.
Latvian IBAN is a necessity for us at the moment.

Are you aware that they happily confiscate money and court doesn’t even listen to your defense?

 

[CaLViN]

Are you aware that they happily confiscate money and court doesn’t even listen to your defense?

I have been working with Latvian banks since 2009.
Thanks for the warning.

 

[JohnnyDoe]

I have been working with Latvian banks since 2009.
Thanks for the warning.

I have been working with Latvian banks since 1999 and I have seen a dozen accounts confiscated by the state all in recent months. It is definitely no longer as it used to be until perhaps 2015. In the good old times we went to the bank with cash in shoe boxes… then the US arrived, the new embassy, the French, Panama papers etc.
I could also mention the blackmailing of banks for releasing funds…

 

[CaLViN]

The issue is that we have to receive x amount of money from an internet company and this could only be received to a Latvian IBAN.
We are not able to change the country at the moment which means we have to take all risks in LATVIA.

 

[JohnnyDoe]

The issue is that we have to receive x amount of money from an internet company and this could only be received to a Latvian IBAN.
We are not able to change the country at the moment which means we have to take all risks in LATVIA.

You should find someone who already has an account there, possibly a local company, who can receive the money for you. Or setup your own local company with local operations etc.

 

[CaLViN]

I am looking for a personal account for myself.
If anyone could advise me a bank or EMI which is easier on operations,i would be glad.

 

[OTR365]

We need a personal IBAN from LATVIA. Prefer EMI instead of Banks for easyness.

The financial supervisor in Latvia has a list of authorized EMIs on their webpage (Excel-file here). It looks like slim pickings.

 

[CaLViN]

The financial supervisor in Latvia has a list of authorized EMIs on their webpage (Excel-file here). It looks like slim pickings.

Hey,
i have checked all companies in the excel file but there is not even an EMI between them.

 

[JohnnyDoe]

Hey,
i have checked all companies in the excel file but there is not even an EMI between them.

Latvia is rubbish. Only way to get a Latvian IBAN is to open an account yourself with a local bank (probably impossible if you are not resident) or find someone who can receive for you on his account.

 

[zxcv31]

Are you ready to buy .or use for the project .?

 

[CaLViN]

Are you ready to buy .or use for the project .?

What do you mean actually ?

 

[Maitrey]

May be at least to try to call this guys: RIB — Homepage
They can accept non-resident company. Their rates are terrible but may be it could be solution.

As well as Main page.
They are also opening an account it is very slow, they also ask for so much information that you don’t know so much about yourself, but you never know ... it will suddenly work out.

And the 3-rd option is local company that will receive your payment for you. Consider something like an escrow account with a local lawyer.

 

[CaLViN]

May be at least to try to call this guys: RIB — Homepage
They can accept non-resident company. Their rates are terrible but may be it could be solution.

As well as Main page.
They are also opening an account it is very slow, they also ask for so much information that you don’t know so much about yourself, but you never know ... it will suddenly work out.

And the 3-rd option is local company that will receive your payment for you. Consider something like an escrow account with a local lawyer.

Thanks for the suggestions.I have worked with LPB in past.I will try the other option and let you know.
BTW,we need a personal account not a business one.

 

[JohnnyDoe]

May be at least to try to call this guys: RIB — Homepage
They can accept non-resident company. Their rates are terrible but may be it could be solution.

As well as Main page.
They are also opening an account it is very slow, they also ask for so much information that you don’t know so much about yourself, but you never know ... it will suddenly work out.

And the 3-rd option is local company that will receive your payment for you. Consider something like an escrow account with a local lawyer.

Maybe 5 years ago these two banks worked? LPB freezes accounts like crazy and court confiscates them without listening to the defense.
The other bank is no different.
Stay away from Latvia!

 

[leorts]

The issue is that we have to receive x amount of money from an internet company and this could only be received to a Latvian IBAN.
We are not able to change the country at the moment which means we have to take all risks in LATVIA.

Another option would be to make your case against your debtor and tell them to comply to SEPA regulation, namely art. 9 EU 260/2012 saying IBAN discrimination is illegal in SEPA, in other words any SEPA IBAN must be treated the same without considering the member state in which it is registered.

 

[CaLViN]

Just got information from both them;
Ribbank don't have personal accounts.
LPB accept applications in their Riga office only,no remote applications allowed.

 

[zxcv31]

I mean, you need an account to buy it and use it for its intended purpose or take it for a certain percentage one-time.? and what is the origin of the money ... scam or your net percentage depends on it.