AS Expobank (Latvia)

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AS Expobank (Latvia)Expobank is one of the oldest banks in Latvia. The bank was founded in 1991 and in 2010 it opened the branch in Cyprus. Since the beginning of 2012 the sole shareholder of the bank remains Russian citizen Igor Kim.

The bank describes itself as a reliable partner that guarantees stable payment transfers and tailored approach to each client. The bank follows conservative strategy and does not undertake credit risks. Among the bank’s clients there are groups of companies and holdings in industrial, finance, construction sectors from the CIS and European countries. In 2013-2014 Moody's assigned to the bank and confirmed the long-term credit rating of B1 with stable outlook which is the highest rating of all credit ratings assigned by international rating agencies to commercial banks in Latvia and the Baltic countries.

In 2015 the bank opened a representative office in Hong Kong. Opening of the branch in Luxembourg is on the agenda.

TO OPEN AN ACCOUNT IN EXPOBANK (LATVIA)

Types of bank accounts

Personal, corporate (all accounts are multicurrency).

The cost of opening of the account (bank tariff)

For natural persons – 160 EUR.

For legal entities – 260 EUR.

This sum of money is written off after the first entrance of cash means.

 

Account closing:

- for natural persons – 40 EUR;

- for legal entities – 100 EUR.

Representative offices

Russia: Moscow.

Cyprus: Limassol.

China: Hong Kong.

Management of the account

Via software – Internet Bank.

For natural persons and legal entities – free of charge.

Bank’s tariffs

Active account maintenance:

- for natural persons – 5 EUR per month;

- for legal entities – 20 EUR per month.

 

Inactive account maintenance (account is considered  inactive if there were no client’s transactions within a month via this account):

- for natural persons – 10 EUR per month;

- for legal entities – 30 EUR per month.

 

Transfers (USD):

- standard – 50 EUR;

- urgent – 65 EUR;

- express – 85 EUR.

 

Transfers (EUR):

- standard – 30 EUR;

- urgent – 40 EUR;

- express – 50 EUR.

 

More detailed information concerning tariffs can be found on the website of the bank.

Terms of opening the account

The process of opening an account begin with the preliminary stage which includes gathering and providing us with the documents needed for account opening. The term of preparatory stage depends on you.

The stage of review of the documents by bank and making a decision regarding opening an account takes from 7 business days since the documents and forms have been delivered to the bank.

Expobank follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Staff

Russian/English speaking.

Credit/debit cards

MasterCard.

Other bank’s products

Deposits, trade financing, safe deposit box.

Documents for opening an account

Forms are available for signature at the meeting in person with bank representative.

 

Company’s documents – originals of all statutory company’s documents need to be provided. In case that from the date of company incorporation has passed more than one year, the Certificate of Good Standing is required (duly legalized and apostilled).

 

Documents for the account holder:

- original of internal passport;

- original of foreign passport (in case of presence of it);

- CV.

 

Documents for the beneficiary:

- original of internal passport;

- original of foreign passport (in case of presence of it);

- CV.

Alongside 2 documents from the list below are to be compulsory provided:

- employment certificate;

- if the beneficiary owns the residential company – Articles of Association and the Certificate of Incorporation should be provided in the original;

- graduation diploma certificate;

- banks statement from the account opened in favor of beneficiary;

- documents proving the acceptance of inherited property;

- reference letter from the bank.

The procedure of opening an account

In order to start the procedure it is necessary to visit our office for filling in questionnaire and providing all required documents for opening an account. After this is settled all the documents will be delivered to the bank for consideration regarding the possibility of account opening. If the decision is positive, the beneficiary and attorney of the company shall meet with the bank representative (the meeting may be arranged either in the head office in Riga or in bank representative offices in Russia or in Cyprus).  During the meeting the bank forms shall be signed and customer identification as the owner the company shall be carried out.

Bank site

www.expobank.eu

For further consultation concerning the terms of account opening in Expobank (Latvia) please contact our office. We will respond to any questions you may have and will help you open an account in Latvian Expobank or any other bank out of 70 foreign banks you may choose from.