The same rules that apply to local residents would apply to a non-resident wishing to open an account with any bank in Latvia. The only difference is the requirement for the banks to verify the non-resident – the banks will check whether you have had accounts with other banks in Latvia or abroad to clarify whether you do not have a negative credit history (debts). The verification takes approximately 1 business day and you will have to pay for it a bank charge of approximately EUR 20 (the charge may differ from a bank to bank).
Likewise, the rules that apply to you with regard to borrowing (including a mortgage loan for purchasing of a home) from banks in Latvia are the same that apply to local residents:
- your legal income for last 3 months will be verified,
- the credit guarantor may be someone from your household (family members) – a local permanent resident or a foreigner who has a bank account with the respective bank and whose credit history the bank will verify (in Latvian and foreign banks).