The Latvia bank term deposits is one the popular investment routes to secure a Golden visa in Latvia with 5 year TRP residence permit along with their spouse and children under 18.
Foreigners must open a bank account in Latvia undergo compliance checks and then deposit the required amount to apply for immigration permit. The bank account opening process takes around 20-30 days. All Latvian banks are fully compliant with EU banking system and share the similar experience as of the other European banks.
Latvia Bank Deposit
- Deposit amount: A minimum of €280,000 must be deposited in a Latvian credit institution.
- Deposit term: The deposit term must be fixed no less than five years.
- State budget fee: A one-time fee of €25,000 is required when the permit is granted.
- Interest Rates – 2.5% to 3.3% available with term deposits with Latvian banks depending on the number of term years.
Popular Banks
The most popular banks offer retail and corporate banking services in Latvia are
- Swedbank,
- SEB Banka,
- Citadele Banka
- Luminor,
- Rietumu Banka, and
- BluOr Bank