Terms of business

In order to start our cooperation we require from each client: I) KYC documents in accordance to our Compliance policy and II) pre-payment of our services. Please review below these requirements in details.

I. COMPLIANCE

i. General KYC (Know Your Client) requirements:

In order to comply with international anti-money laundering regulations, all clients must present:

  • Passport copy + utility bill not older than three months of Beneficial Owner, Directors and Shareholders.
  • Completed Company Form (with description of business activity of the company)

IN ADDITION:

ii. Requirements for Company incorporation:

  • In order to commence incorporation, we will require the following:
  • For corporate shareholders – certified (and Apostilled if required) corporate documents with Latvian translation. Ask us for details.
  • Company Register forms (prepared by IBCC) must be certified and/or legalized and translated into Latvian language. Ask us for details.

IN ADDITION

iii. Requirements for bank account opening:

In order to commence bank account introduction, we will require the following:

  • Detailed description of company work with Completed bank questionnaire form.
  • CV of the Authorized Signatory
  • Please note that additional documents may be requested for the selected bank compliance (for example, proof of funds or reference letters)

NB! We do our best to provide our client’s with bank account opening solutions. Please keep in mind though that any bank reserves rights to reject application.

II. TERMS OF PAYMENT

  • 100% advance payment is required prior to IBCC providing any company formation or related service.
  • Accounting fees are quoted on an approximated average basis and the actual fee will be based on company turnover. To provide a detailed fee quote, we will require the projected average monthly sales turnover and expected number of monthly transactions.
  • Annual fixed fees such as registered address and director fees are charged annually in advance.
  • In case of revenue (taxation) enquiries or similar situations which may involve complex questions or inspection of records by tax authorities, we reserve the right to charge additional fees which will be agreed upon with the client.

If you have any questions or comments, or uncertainties, please write or call, as we all are interested in the successful cooperation!

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