AS LPB Bank

Types of tariffs

Valid from: 23.04.2020

The information is published in order to show Tariffs, which correspond with the status of the Client. The Bank has defined three types of Tariffs – Domestic, EEA and Foreign Tariffs, which will be applied as follows. 

Domestic Tariffs are applicable:

1) Private individuals, who are citizens or non-citizens of the Republic of Latvia, or stateless persons, or persons, to whom the alternative or refugee status has been granted in the Republic of Latvia, upon presenting a valid personal identification document, one of  the types of personal identification documents provided for at the “Personal Identification Documents Law”.

2) Private individuals, who are citizens of EEA countries, to whom an identity card of another member state of EU or EEA country has been issued in the Republic of Latvia (hereinafter - EEA identity card), upon presenting a valid identity card. The term during which the Tariffs will be applicable equals the term of validity of the EEA identity card. If after the expiry of the term specified in the EEA identity card the Client does not present an EEA identity card to the Bank with a new term, the type of Tariff corresponding to the status of the Client shall be applied starting from the expiry date of the EEA identity card. 

3) Legal entities – to Legal entities, as well as partnerships and their analogues, including foreign companies, which are registered in the Republic of Latvia and the place of economic activity is related to the Republic of Latvia*, as well as diplomatic, consular and other foreign representative offices of the Republic of Latvia.

* The place of economic activity is recognized as related to the Republic of Latvia in case of both Basic Features** and at least one of Additional Feature*** are fulfilled at the same time:

**Basic Features:

- the existence of an actual office in the territory of the Republic of Latvia - confirmation of property rights or payment of rent and payment of utility bills;

- employment contracts with employees, payment of salaries and taxes in the territory of the Republic of Latvia.

*** Additional Features:

- availability of turnover of goods / services related to the Republic of Latvia: leased storage facilities, buyers / sellers of final goods / services are Residents****;

- at least 70% of the company's turnover is made by transfers with Residents****;

- if the company is a holding company and its activities comply with the points mentioned above;

- if the fixed assets on the company’s balance sheet are registered in the territory of the Republic of Latvia.

4)    Legal entities – to Legal entities, as well as partnerships and their analogues, foreign companies, which are registered in the Republic of Latvia (regardless of the place of their economic activity) and for which both of the following features are met at the same time:

- in the ownership structure of a legal entity, all direct and indirect owners are only Residents****;

- authorized signatories of the Legal entity are only Residents****.

EEA Tariffs are applicable to:

1) Private individuals, residents of EEA countries, upon presenting citizens passport of the respective EEA country or citizens identity card, excepting persons to whom are applying conditions of Domestic Tariffs.

2) Legal entities, which are registered and operating in any of the EEA countries, excepting Residents**** to whom are applying conditions of Domestic Tariffs.

3) Legal entities, which are registered in Republic of Latvia, but place of economic activity is not related with Republic of Latvia in any of the following cases:

- in the ownership structure of a legal entity at least one of direct or indirect owners is not a Resident****;

- at last one of authorized signatories of the Legal entity is not a Resident****.

****Resident within the meaning of application of Tariffs:

a Legal entity, legal arrangement, partnership and its analogues, incl. foreign, registered and with place of performance of the principal activity in Republic of Latvia, as well as diplomatic missions, consular posts or other representations of the State of Latvia in the foreign states;

a Private individual who is a citizen or non-citizen of the Republic of Latvia, or a stateless person, a refugee, or a person who has been granted alternative status, provided that one of the types of identification documents prescribed in the “Personal Identification Documents Law” has been issued to them.

Foreign Tariffs are applicable:

1) Private individuals and Legal entities, who are not covered by the conditions of Domestic and EEA Tariffs.

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