Free Bank Account for non residents in Riga, Latvia? Please Help!

Last activity 19 January 2017 by Naesby

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RoznoshchikMember19 January 2017 07:56:48

Hi all,

I have been trying for a few months now to process my self-employed residence permit in Latvia and I keep running into issues with the required paperwork from my bank that verifies my funds.

The Latvian government wants an official letter from my bank verifying that I have enough funds in my account for operating my business and they want it tied to my personal identification so that they can prove that it is me. This means my passport number, my date of birth, etc.

My bank Chase, refuses to put that information on paper for my safety and have a generic verification of funds form that the Latvian Government doesn't accept.

Everything is stuck on this for me right now. My only options seem to be to open up a new account here in Latvia and lose money on transferring fees and account fees.

However, no Local bank will give me an account without a residency, and I need the account to secure the residency.

The only bank I've seen so far that will open the account for me is Citadele Bank but they have a 150 euro charge for international clients and relatively high maintenance fees.

Does anyone have any advice on where I can go to sort this problem out??

Help is much appreciated! Thanks!
Rostislav

NaesbyContributor19 January 2017 08:39:33

113

Dear sir business in Latvia? banks here can fall pretty fast. My way is to bank in my home nation and draw out when needed by any bank here hole in wall or over counter. No account required. i live here full time with no problems this way. No one says you must have a bank in Latvia. Keep your own as you have a track record with them. You have no doubt a debit card so use that here and all over the world with no fuss or stupidity to care over. You try getting bank loan here it is laughable. The average wage being just 400 euro per month. If you can find work that is. Business is dodgy to my view. Wine sells so do cars and food. Forget anything else. Riga and city life may be possible but you must do the market research first of loose everything to those who know just how to fiddle. It is but a very poor nation outside the capital wild west is more the expression.

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