GSL / Offshore and International Law / Offshore Banking / IB INVESTICIJUBANKA

How to open a bank account in IB INVESTICIJUBANKA

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

March, 2014

Last contact

August, 2022

Last update

August, 2022
  • since March 2018, legislation has been introduced in Latvia obliging banks to stop working with non-resident shell companies, since they fall into the "high risk" category;
  • the bank opens multicurrency settlement accounts;
  • an account can be opened in Moscow by meeting with a representative of the Bank;
  • the minimum balance is 500 USD (for individuals) and 1,000 USD (for legal entities);
  • the term for opening an account - case by case (check with the consultant);
  • the bank opens merchant accounts for clients with internet business.

The bank was established in 2001 and currently the total share capital of the bank is EUR 32.33 million

GSL rating
Beginning of cooperation
March, 2014
Last contact
August, 2022
Last update
August, 2022
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General information and rating

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
2001
History
IB INVESTICIJU BANKA was granted license on 14 September 2001. But it is 28 September 2001 which the bank believes to be its official founding date as it was then entered on the Register of Enterprises of the Republic of Latvia as Joint stock company ‘Regionala investiciju banka’. The bank’s total core capital at the start of 2014 stood at EUR 32.335 million
Personnel
The bank has Russian-speaking staff
Bank’s shareholders
The bank’s largest shareholder is Public Company Joint-stock bank “Pivdennyi”, which owns 81.847% of the shares. It is the largest and the most stable private bank in the south of Ukraine. The remaining 18.153% of shares belongs to two legal entities and seven individuals
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements

    Minimum balance, €
    Transactions permitted per month
    1 000
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    There are no restrictions as to the number of transfers
    Initial deposit of funds, €
    The minimum account balance for individuals is USD 500, for legal entities - USD 1,000
    How fast payments are executed
    For EUR, a simple transfer with a transfer until 15.00 (Latvian time): value date - the same banking business day; urgent transfer with a transfer before 17.00: value date - the same banking business day (for 1 hour)

    Tariffs and services

    20
    Outcoming transfer, €
    0
    Incoming transfer, €
    240
    Account maintenance, €/year
    700
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Fees for EUR transfers: ordinary – EUR 12 (SHA), 20 EUR (OUR); urgent – EUR 22 (SHA), EUR 30 (OUR); express – EUR 27 (SHA), EUR 35 (OUR)
    Incoming transfer, €
    There is no charge on incoming transfers
    Account maintenance, €/year
    Account opening fee is USD 50 (for individuals) and USD 200 (for legal entities). Annual maintenance fee is not charged to individuals; for legal entities the maintenance fee is USD 20 per month. Account closing fee (for current accounts) is USD 100
    Payment limit for credit cards, €/day
    The daily limit for debit card Maestro is EUR 700; for MasterCard Mass – EUR 1 500; for MasterCard Business – EUR 2 000; for MasterCard Gold – EUR 2 000; for MasterCard WORLD ELITE – EUR 3 500
    Distant access to the account
    Internet banking with free-of-charge connection and maintenance. Issue of codes card is USD 5. Connection of an electronic calculator Digipass is USD 70
    Financial products
    The bank offers a full range of baking services: multi-currency accounts, Internet banking, transaction accounts, transfers and remittances, international payment cards, e-Commerce, exclusive payment card World Elite, loans and commercial finance, investment and broker services
    Credit/debit cards
    Maestro debit card (issue fee – EUR 25, second-year annual fee – EUR 25, minimum balance – EUR 35). MasterCard Mass card (issue fee – EUR 50, second-year annual fee – EUR 50, minimum balance – EUR 200). MasterCard Business card (issue fee – EUR 80, second-year annual fee – EUR 80, minimum balance – EUR 300). MasterCard Gold card (issue fee – EUR 150, second-year annual fee – EUR 150, minimum balance – EUR 700). MasterCard card WORLD ELITE (issue fee – EUR 1000, second-year annual fee – EUR 1000)

    Account opening procedure

    Days to open for incoming transfers
    case by case
    Days to open for outcoming transfers
    case by case
    References
    Not necessary
    Purpose of the account
    Current
    Visit to the bank
    No visit to the bank is required as the bank has a representative office in Moscow
    Required
    A standard set of corporate documents. Photocopy of the account holder’s passport
    Types of accounts
    Personal; Corporate; Current
    Opening procedure and Due Diligence
    It is possible to open an account without visiting the country where the bank is located
    Chances to open an account
    Predictable
    Business description
    Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed

    Banks of Latvia

    Bank
    The cost of opening an account, $
    Global rating
    Countrywide rating
    GSL rating
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