Legal advice

I am a foreigner, I want to start a business in Latvia and open a company. To register a company, you need to open a temporary account and to contribute capital into it. As far as I know, at present it is very difficult or almost impossible for a foreigner to open a temporary account in Latvia for a new company. Are there any solutions to this problem?

24.03.2023 Aleksandr Lenkovskis, member of the board

Indeed, at the moment it may be difficult to open a temporary account in a bank, and other financial institutions (payment institutions) do not provide the service of opening a temporary account to contribute the main capital. There is a solution. You can open a company with small capital. For example, with a capital of 100 euros. In this case, there is no need to open a temporary account and contribute capital into it. It is enough to confirm the availability of these 100 euros when opening a company in the application for registration of the. The issue of opening a normal account in a bank or in another financial institution can be resolved after the opening of the company.

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