WHAT RIETUMU BANK OFFERS:

• Full range of banking services.
• Multicurrency accounts
• Multilingual customer support
• iRietumu - modern internet-bank in English, Russian and French
• MasterCard/Visa Debit and Credit cards (including “deluxe” level cards)
• Standard payments in all major world currencies are processed on the same day (T+0) without additional commission.
• International express payments in EUR and USD in one business hour.
• Wide net of correspondent banks.
• Payments in more than 90 different currencies.
• Immediate currency exchange.
• Special exchange rates for amounts exceeding EUR 5,000.
• Hedging of currency risk (Fwd/Swap/Order).
• Favourable fees for loyal clients.
• App for iPhone, iPod & iPad
• E-commerce services (merchant account)
• Deposits
• Lending
• Asset management
• Investment funds
• Financial market instruments
• Advisory services & support in obtaining a residence permit in Latvia
• The approximate timeframe for account allocation from 7 to 10 business days receipt of the original documents by the bank.

REQUIREMENTS FOR PERSONAL ACCOUNT SET UP WITH RIETUMU BANK

• A face-to-face meeting is not required.
• No minimum balance.
• Initial deposit of EUR400.
• Account opening timeframe. The account will be activated within 7 - 10 business days, upon receipt by the bank of all duly completed forms and relevant information.

REQUIREMENTS FOR OPENING AN INDIVIDUAL BANK ACCOUNT

• Notarized copy of valid passport. The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
• Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
• Original or notarized copy of Lawyer's/Banker's/Accountant's reference letter dated within 3 months.
• Personal CV

PLEASE NOTE: Documents that are not in English must be accompanied by a certified translation. U.S. citizens or residents are not accepted for account opening.

REQUIREMENTS FOR CORPORATE ACCOUNT SET UP WITH RIETUMU BANK

• Personal presence is not required.
• The Relationship minimum balance for companies from the EU, CIS, OECD, China (incl. Hong Kong), Andorra, Georgia, Lichtenstein, Macedonia, Isle of Man, Serbia, Singapore and Montenegro is established in the amount of EUR 5 000 (or the equivalent in another currency). Following the opening of an account for a new client of the bank and crediting funds to it, the compulsory minimum balance will be remitted to the special saving account, where it will stay untouched for the first six months.Upon the expiry of six months, the amount of the Minimum Balance will be remitted from the Saving Account back to the Current Account of the Client where the Client can make free use of it. With regard to this Client, the general terms of observing the Relationship Balance will be effective.
• The bank commission for opening a new account for companies from the EU, CIS, OECD, China (incl. Hong Kong), Andorra, Georgia, Lichtenstein, Macedonia, Isle of Man, Serbia, Singapore and Montenegro will remain unchanged – EUR 150. For companies from other countries and jurisdictions, the commission for opening a new account will be EUR 450.
• Account opening timeframe. The account will be activated within 7 - 10 business days, upon receipt by the bank of all duly completed forms and relevant information.
• U.S. companies or citizens are not accepted for account opening.

DOCUMENTS REQUIRED For the Company: A set of legalized company documents consisting of:

• Certificate of Incorporation
• Memorandum and Articles of Associations
• Documents confirming the appointment of company directors and secretary (if any)
• document confirming the location of the registered office
• Share Certificate(s)
• Certificate of Good Standing if the company is more than 12 months old
• Copy of the Corporate Structure, identifying the ultimate beneficial owner(s)
• Valid License (if applicable)

For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

• Notarized copy of valid passport. The passport must be signed and signature must match the signature in the application form. The photograph must be clear and of good quality.
• Original or notarized copy of utility bill / bank statement dated within 3 months as verification of residential address.
• Original or notarized copy of Lawyer's/Banker's/Accountant's reference letter, dated within 3 months
• Power of Attorney (where applicable)
• Personal CV

For each corporate officer (Where the company directors or shareholders are legal entities), please provide: A set of legalized company documents consisting of:

• Copy of constitutional documents (Certificate of Incorporation, Articles, etc.).
• Copy of Corporate Register (which shall include Register of Shareholders, Directors and Secretary).
• Copy of the Corporate Structure.
• Certificate of Good Standing.

PLEASE NOTE: Documents that are not in English must be accompanied by a certified translation. Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.

First you have to know the banks website: http://www.rietumu.com/ How to open the account: Please download the application forms and follow the instructions from the bank here: Personal: http://www.rietumu.com/documents-account-private Corporate: http://www.rietumu.com/documents-account-corporate After you click on "Apply now" you will find the account opening process where you can download the necessary application forms. After you returned the application forms with all necessary documents back to the bank, your account is set up after further 5-7 working days and you will get the access data by post delivered. Your new Offshore bank account is from then on fully usable. Important note: If the account opening documents provided are incomplete, unverified or are not clear they may have to request further information, documents or clarification from you before they can open your account. As part of the process you will need to send personal information. It’s very important that you use real information. Don’t try to use questionable data. If you have some problem or a specific question the best is to contact them directly and let them know so they can help you. For further questions regarding your account opening we ask you to contact the customer care center directly of the bank via: E-Mail: [email protected] Phone: +371 67025285