Baltic International Bank (Latvia)

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Baltic International Bank (Latvia)

 

Being established in 1993, Baltic International Bank operates as founder in the sphere of private banking services in Latvia, and provides individual assistance for private and business interests of wealthy families.

Bank appears as one of leader in the market of private services among Baltic States and possess offices in a few countries.

 

OPEN AN ACCOUNT IN BALTIC INTERNATIONAL BANK (BIB)

Types of bank accounts

Personal, corporate (multicurrency).

Accounts are opened for those who meet the following criteria:

- there is a direct connection with Latvia (except for real estate, i.e. employees, contractors, office);

- country of registration of the EU (exception: Ukraine);

- the beneficiary is not a PEP or a family member of a PEP;

- there is no public negative information about the beneficiary;

- simple registration structure;

- the company was registered more than a year ago.

Charitable organizations do not open accounts.

The cost of opening of the account (bank tariff)

Commission for consideration of documents:

- for non-resident individuals - 300 EUR.

- for non-resident legal entities - 450 EUR.

If the account is not opened, the commission is not refundable.

 

Commission for client identification – 300 EUR.

This amount is charged in addition to the fee for consideration of documents and is not refundable if the account is not opened.

 

Opening an account is free.

 

The minimum balance – 10 000 EUR.

Representative offices 

The bank has representative offices in a few countries.

Management of the account

Internet banking via devise Digi Pass.

Bank’s tariffs

Account service:

- for individuals - 30-150 EUR/month.

- for legal entities – 50-300 EUR/month.

 

Accounts for legal entities, which business activity is included into the high-risk activity list (list is available at the bank upon request) – 550 EUR + 0,2% from average monthly turnover per month.

More detailed information concerning tariffs can be found on the link.

Terms of opening the account 

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

The preliminary stage includes the process of gathering and filing your documents which are required for opening an account, filling out bank forms, certifying and signing documents and then sending them to the main bank’s office. The terms of preliminary stage depends wholly on you.

The procedure of consideration the documents and reaching the decision by bank regarding opening an account takes 10-15 working days starting from the date when the bank has received your original documents.

Baltic International Bank 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, Maestro, Visa, American Express.

Other bank’s products

Deposits, brokerage services, trade finance, personal safes, credit.

Documents for opening an account

Forms for signing are provided at the bank’s representative office during the personal visit.

 

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), and the company's financial statement.

 

Documents for the account manager:

- original internal passport;

- original passport (if any);

- CV-resume;

- bank recommendation;

- the original utility bill (for gas, electricity) not older than 3 months (to confirm the address of residence).

 

Documents for the beneficiary of the company:

- original internal passport;

- original passport (if any);

- CV-resume;

- bank recommendation;

- the original utility bill (for gas, electricity) not older than 3 months (to confirm the address of residence);

- Additionally, documents confirming the source of income (wealth) of the beneficiary may be required. It can be:

- a certificate from the place of work indicating the salary and an extract from the personal account, which displays the payroll;

- tax declarations;

- documents confirming the receipt of the inheritance;

- documents confirming the receipt of funds as a gift, as well as their presence on the accounts;

- documents confirming the sale of immovable/movable property;

- if the beneficiary is the founder of the company - documents for the company, statements from the company's accounts, tax returns, documents confirming the payment of dividends;

- if the beneficiary is a private entrepreneur - an extract from the register, tax returns for the entrepreneur, bank statements;

- a certificate from the bank on the presence of a deposit, as well as documents confirming the source of receipt of these funds;

- other documents showing sources of income.

The procedure of opening an account

You should visit our office to fill in the questionnaire and signing the bank forms and certifying the company’s documents and documents for the account holder and beneficiary. The meeting between the client and the bank’s representative is obligatory, the meeting can be organized in our office or at the bank’s representative office.  

Bank site

www.bib.eu

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