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South Africa FSP License Bank Account: Includes one local bank account. Personnel: Local director and Key Individual (KI) available to stay post-sale. Transfer Timeline: Quick transfer—1 week for CIPC, 3 weeks for FSCA. Mauritius Full Service Dealer License Bank Accounts: Corporate and client accounts at MauBank. Capital Requirement: €24,000 Total Investment: €227,800 (inclusive of setup…
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+1 (888) 647 05 40Obtaining such official permission as a trust license Latvia depends on the specific activity that the entrepreneur is engaged in. The issue of licensing trust organizations in Latvia is regulated by the Financial Services Law and the provisions of the EU Directive, which was adopted in the jurisdiction in 2009. As follows from the legislative norms, any company participating in trust transactions acts as a financial link in the country’s economy, which entails the obligation of compulsory licensing of its activities. The regulation regarding trusts in Latvia has flexibility, which makes this jurisdiction an attractive option for foreign investors when the goal is to legally deal with third party assets in the EU. Latvia offers two options: register a legal entity or buy an already registered company – a pre-established organization with a work permit (with or without a bank account). Below we will look at the main features of the establishment, functioning and licensing of trusts in Latvia.
Our team provides advisory and practical assistance in registering and launching businesses. We provide Latvia trust services with full support at all stages. We also have many options for ready-made trusts for sale.
There are no specific regulatory requirements for trusts except that a private trust company must be registered as an international business corporation rather than as an LLC. A trust firm in this jurisdiction can freely act as a trustee of any trust created in Latvia or anywhere in the world (in accordance with local law).
According to Latvia trust law, these structures are organizations created for the sole purpose of acting as a trustee. Such a company can store and manage monetary assets and real estate of one or several clients at once. The trust provides fiduciary services similar to those provided by an individual and institutional trustee. These services may also include investment advice, asset management for profit, administrative services, etc. In particular, small trust firms can also open and manage offshore bank and brokerage accounts as a fiduciary on behalf of the master trust.
Trust organizations in Latvia offer the opportunity to create long-term trust agreements for clients in the same way as a corporate trustee would, but without the oversight and formalities of a financial institution. Such ongoing arrangements are not possible with individual trustees. A trust company usually allows clients to change trust services and change them over time to suit changing needs. Trust firms in Latvia are also required to provide clients with the opportunity to participate in key investment, management and investment decisions.
Our experts will help you choose the most suitable jurisdiction for obtaining a trust license. Trust license cost Latvia varies depending on the specific characteristics of the business and is calculated individually by our managers before the start of cooperation. We also provide qualified assistance in opening trusts in Luxembourg, France, Germany, Austria and other countries around the world.
So, how to get trust license in Latvia? As part of trust license requirements Latvia, a potential licensee must comply with the following.
First of all, the regulator needs to submit a pre-prepared package of documents for all founders and pay the state fee. Trust license fees Latvia required to pay range from 1.5-2 thousand euros. The regulator will need to provide the following documents.
Our company is ready to provide you with specialized professional trust services Latvia with full support, regardless of the complexity and complexity of the case. We offer a variety of ready-made trusts licensed for sale in Hong Kong, Vanuatu, Cyprus, Australia, Canada and other countries. Our lawyers are aimed at achieving the most effective and promising results for you. Contact us now.
The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.