Latvian Offshore Online Banking

In this particular article we will take a look at  Latvian offshore online banking.

There are 22 banks in Latvia, you will need to choose whether you need the services of a big bank or a smaller bank that will offer a specialized service. Latvian banks offer:

• Multi-currency facilities.
• Full-featured internet banking.
• Maestro or VISA debit card.
• Master Card and Visa credit cards.
• Your are able to deposit funds via wire transfer, check or cash.
• Customer service in English, German, Latvian, and Russian.

All banking information is protected by Latvian law when opening a Latvian Bank Account: - Find a bank that offers the features you require, it would be in your best interest to hire an agent, which will cost between $100 and $200 US.

The agent knows about the banks in Latvia and will help you with your needs. You will need to either visit or open an account by mail in order to manage your account online.

Client/Bank software allows communication between you and the bank by means of a secure modem connection. You will be given a user ID and password that will allow you to access your account. Code tables will allow you to use a different password each time you use yor Fax machine to contact the bank. You will be offered a list of credit cards, debit cards and ATM cards.

• To open an account you will need the following:
• A notarized copy of your valid driver's license.
• Your signature on the Specimen Signature Card.
• A street address where your papers on your account will be delivered by courier.
• Certificate of Registration of your company.
• Memorandum, articles, by-laws from your company.
• Power of Attorney.

Each bank has it's own regulations, in some of the offshore banks, your passport copy does not need to be certified but the signature card does. Certification is by notary, Latvian embassy, bank solicitor or government official.

Latvian bank privacy policy for offshore online banking says, information and transactions will never be disclosed to anyone other than the corporate owners or appropriate officials of the corporation.Criminal proceedings will be brought against any person who has disclosed information on the accounts and financial services of customers.

There is a difference between Latvian and Swiss banking secrecy, however, in both countries at least one person in the bank should know the identity of the customer for authorization purposes.

Both countries have due diligence requirements and anti money laundering laws. Both countries are able to open numbered accounts, where a number replaces your name on all accounts.