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Frequently Asked Questions
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Who may open a Business Account?
A Business account may be opened by any individual of age, who needs to carry out a transaction. -
What is needed to open a Business Account?
You only need a passport and a prior agreement with the buyer/seller of the sales price.
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Can non-cash financial instruments be deposited in the Business Account?
Yes, of course. non-cash financial instruments, cash, or convertible foreign currencies can be deposited in the Current Account.
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How much does it cost?
The fees of the Business Account are quite acceptable - 0.5% of the transaction amount. The minimum fee is 10 LVL, but the maximum - 150 LVL.
Example (the fee depends ONLY ON THE PRICE and not on WHAT is being bought or sold) :
Purchase
Price
Fee
Laptop
1000 LVL
10 LVL
Car
5200 LVL
26 LVL
Motorcycle
3000 EUR
10 LVL
Apartment
27000 EUR
91 LVL
House
55000 EUR
150 LVL
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Who pays the fee for opening the Business Account?
Prior to coming to the bank you and the buyer/seller have to agree if the fee will be paid by you or the other party. Frequenly the fee is split fity-fifty.
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Can I carry out several transactions in this account?
To carry out several transactions, you have to conclude a separate contract for each. Each contract is meant for a specific term.
