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Question Latvia IBAN / Non-resident
- Thread starter CaLViN
- Start date
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 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…
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.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.
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.
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.
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.
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!
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.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.
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