Eternity Law International — News — Banks for sale in Latvia

Banks for sale in Latvia

Published:
February 6, 2024

Latvia is known for its well-established banking sector system, which includes several levels of institutions depending on their overall functions and breadth of influence. The first level houses the National Bank with its main offices, agencies, organizations and supervisory authorities. The National Bank implements a structured monetary policy and, together with supervisory authorities, exercises control over the entire financial sector. Thanks to the high degree of reliability and uninterrupted operation of such a system, Latvia is considered one of the leading financial centers on a global scale. Many investors seeking to get into the banking business prefer to choose this particular jurisdiction.

Our company provides a variety of banks for sale in Latvia, but also in other global jurisdictions. We guarantee professional support and advice at all stages leading to the successful completion of the transaction and transfer of the business.

Latvian banking sector

According to the Latvian banking market analysis, the National Bank fully regulates the activities of the banking sector in terms of monitoring its activity. In addition, this function is also assigned to the Federal Banking Commission. Regional banking institutions are state-owned firms created and supported by the governments of Latvian local financial communities. They are among the world’s most reliable banks and were established with the goal of stimulating the economic development of the country by providing affordable loans to local residents. These banks are active in various sectors, but they are best known in the savings, mortgages and wealth management industries.

There are also private for-profit companies providing investment services, private financial services and asset management. Such companies also play an important role in the Latvian banking system. The jurisdiction also actively develops and operates organizations that deal with insurance; an important role is played by loan offices that carry out transactions with currencies and interest arbitrage.

Advantages of investing in Latvian banks

This country is home to some of the largest banking organizations providing services to wealthy capital holders. Banking secrecy in Latvia is very important and is maintained in accordance with locally established rules and regulations. Here, under conditions of strict confidentiality, financial data of clients is kept secret, and a corresponding register is maintained.

This special balance between strict customer confidentiality and openness of banks is attracting more and more investors from different parts of the world. Approximately 25% of banks’ pre-tax income is generated in local currencies, while the rest comes in dollars from investment and asset management subsidiaries in various jurisdictions.

Highly qualified lawyers in our company will conduct a thorough and detailed analysis of all data related to the banks that you are considering for purchase. We will provide you with not just consultancy, but in-depth professional guidance on all issues related to the banking industry in various global jurisdictions. The option to acquire a Latvian bank is a strategic and extremely profitable decision that provides stable and long-term income. Let’s take a closer look at the most important benefits of purchasing a ready-made bank in a given jurisdiction to ensure you are as informed as possible before making your decision.

  1. Getting Latvian bank for sale is a promising investment decision that provides stable income for many years. The Bank has high liquidity and remains independent from global economic and political fluctuations.
  2. The purchase of an already operating banking company allows you to begin operating activities immediately, avoiding the need to formalize numerous permits and licensing documents. A ready-made bank has all the necessary licenses, and although the process of re-registration can be labor-intensive, our experts will effectively cope with this task.
  3. The acquisition of a bank provides an opportunity not only to provide current services to customers, but also to diversify the range of goods and services, attracting more customers. Buying an investment bank in Latvia with innovation and promise allows you to successfully implement change without spending time establishing ownership and developing new ideas.
  4. Latvian private banks for sale are a cost-effective solution that includes offices, experienced staff and a customer database. When you purchase a bank, you receive all the assets that belonged to the previous owners.
  5. With an already established reputation as a banking institution, you avoid the hassle of building your own name and immediately gain access to all opportunities and horizons.

Buying an investment bank in Latvia provides a number of significant advantages, which makes this choice more profitable than trying to create a new company from scratch.

Procedure of getting banks for sale in Latvia

Currently, setting up a new banking institution is a complex process involving many challenges, including licensing and extensive documentation, and requiring significant financial investment. Therefore, the opportunity to acquire a Latvian bank becomes a more attractive alternative, providing a relatively quick procedure with lower costs compared to creating a new bank. In addition, when purchasing a bank, the entrepreneur receives an already established name, which eliminates the need to build a reputation from scratch.

The importance of sending an official request to obtain information about a banking institution is explained by the fact that the provision of anonymous information is prohibited by law. It is also important that the buyer confirms the origin of his capital in accordance with anti-fraud and anti-money laundering laws.

Getting Latvian bank for sale gives you access to a variety of benefits.

  1. Financial license. The acquired bank already has a financial license, eliminating the need for lengthy procedures and uncertain waits for regulatory approval.
  2. Effective management system. The existing management system is likely to already operate effectively, minimizing the need for significant changes.
  3. Experienced staff. Experienced professionals such as executives, lawyers, accountants and economists can keep their jobs after the company is sold.
  4. Ready invoices and customer database. The bank already has ready-made accounts for corporate transactions, as well as a customer database, which makes it easier to start operations.

It is important to note that choosing a profitable banking business can be a challenging task, given that not all institutions generate profits. It is recommended to seek help from professional experts to avoid potential negative scenarios.

There are two main types of commercial banks in Latvia: specialized and universal. Specialist banks focus on specific areas, such as savings, investments or mortgages, while universal banks provide a full range of services.

In terms of legal structure, banking institutions can be organized as joint stock companies (JSC) or limited liability companies (LLC). Joint stock companies can be either public or non-public, distributing capital among shareholders in accordance with the percentage of shares they own.

Buy a bank in Latvia: which institution will be better?

Starting a bank from scratch is a very risky process. In each market segment there is intense competition with already established banks that have their own client base. It is difficult for a new institution to compete with such banks, which can lead to bankruptcy. In contrast, buying a ready-made bank with a recognizable name and reputation reduces risks and provides a stable income.

When choosing a bank, it is also important to clearly define the purpose of its use. Setting priorities and consistently following a strategy allows you to achieve significant results in a short time. It is important to remember that all operations must be legal; permissions are required for each action. The cost of a ready-made bank in Latvia depends on many factors, including the size of the company, its profitability and reputation. Our specialists will conduct an individual risk assessment and help you choose the best option that meets your requirements.

Why choose Eternity Law for cooperation when purchasing a bank in Latvia

We are a company with many years of experience in the field of finance and banking, which has honestly earned the title of leader in this field. Our regular clients return to us again and again to open new banks and branches in various jurisdictions. The key task of our team is to find individual solutions that best meet the needs of each client.

  1. Extensive experience gained over years of work.
  2. Many positive reviews indicating effective activities.
  3. Providing corporate services such as opening bank accounts, recruiting staff and finding office space for rent.
  4. Focus on achieving optimal results at minimal cost.
  5. High quality standard guaranteed.
  6. Free consultations for our clients.
  7. Full support at all stages of cooperation.

Contact us today to choose the best offers on the market and begin mutually beneficial cooperation on convenient terms. Our experts will conduct a thorough analysis of all aspects of the bank you are planning to purchase and will assist in correctly filling out and re-executing all the necessary documents. We will also take care of interaction with regulatory authorities.

You could be interested

PSP license in Latvia

The Baltic countryside has become a big financial-centers in a short duration. But Latvia allows a gentle policy concerning fees for corporations that want to obtain a PSP license in Latvia. To get a PSP license in Latvia, a corporation needs to spend a lot of time and resources. But the time invested is more...

Doing business in Europe

Launch of a commercial project in European states opens up a wider range of opportunities for entrepreneurs than in offshores. Running business in Europe isn’t only associated with great prospects and benefits, but also makes customers and potential partners realize that this or that firm is their reliable ally. Benefits of launching a company in...

Holding registration in Switzerland

Practice shows that such a solution as holding registration in Switzerland is quite popular among modern entrepreneurs, in a country with the most reliable financial institutions and the most accurate watches in the world. We are talking about Switzerland, located in the center of Europe. Its geographical location and loyalty to businessmen makes the registration...

Crowdfunding licensing in Europe

Picture this scenario: envision a compelling concept for initiating a business venture or crafting a unique product, yet find yourself devoid of the financial means to breathe life into it. The conventional route might involve individuals grappling with a sense of despair, resorting to incremental savings from personal reservoirs in a bid to manifest their...

Ethereum Merge: important points

Finally, Ethereum Merge is complete. We want to swiftly dispel some of the rumours and false news that have surfaced about the Merge in this post. Our specialists are the people to contact if you have any questions. Merge is A technological update called the Merge will convert Ethereum’s current proof-of-work system to a proof-of-stake...

Stages of developing a payment system

A payment system is a set of technical procedures through which users of this system can make transactions to transfer funds between legal entities or individuals. The main function of any of these systems is the circulation and transfer of monetary resources. Having your own payment system will allow you to create the most comfortable...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360