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  1. Business customers
  2. Accounts for businesses
  3. Temporary account

OPEN A TEMPORARY ACCOUNT REMOTELY

Have you begun registering your business and now need to make the equity payment? Save time and open a temporary account remotely.

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Fill in an application

What is a temporary account and why is it necessary?

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A temporary account for a business is a bank account which the business opens during its initial registration process. It is temporary and is opened before a business is founded. This account is necessary for paying in equity and completing the business registration process.


4 simple steps to founding a business

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Begin registering your business

in the Enterprise Register
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Open a temporary account

fill the application and make your equity payment
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Finalise the registration process and submit a printout of the payment

to the Enterprise Register
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Open a permanent account

Apply remotely
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Begin registering your business

in the Enterprise Register
icon

Open a temporary account

fill the application and make your equity payment
icon

Finalise the registration process and submit a printout of the payment

to the Enterprise Register
icon

Open a permanent account

Apply remotely
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Temporary account

Taken the first steps in launching a business and now need a business account? We have worked to ensure that opening one is as simple as possible. Open a temporary account remotely*:

  • Fill in an application to open a temporary account.**
  • Once your temporary account is open, you will receive an electronically-signed letter from the bank by email, in which we will give you your temporary account number.
  • Pay in your base capital.
  • Once you have founded your business, transfer your temporary account into a permanent account remotely.
Fill the application

* Remote opening of a temporary account is only available for newly established companies in the Republic of Latvia with a single founder who is a resident of the Republic of Latvia.
** Before founding your business, check whether you have selected a unique name: https://www.ur.gov.lv/en/.

Frequently Asked Questions

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Visit our interactive assistant and find the information you need

Interactive assistant
I have made my equity payment, what documents do I need to submit to the Enterprise Register as confirmation?

You can submit a payment confirmation for the account from which you transferred the money, or you can ask us to issue a statement on the payment. Commission fee for the preparation of the statement is according to the bank's price list.

Why does a business need a temporary account?

A temporary account for a business is a bank account which the business opens during its initial registration process. It is temporary and is opened before a business is founded. This account is necessary for paying in equity and completing the business registration process. It is not a current account, and it cannot be used for other incoming or outgoing payments apart from the equity payment.

Who can open a temporary account remotely?

Only newly-founded companies from the Republic of Latvia which have a single founder who is a private individual can open a temporary account remotely.

How can I find out if the name of the new business is unique?

You can check the name of your business heret www.ur.gov.lv/lv/.

Where can I find out which NACE code applies to my business?

You can find out the NACE code which matches your economic activity here: NACE: Statistical classification of economic activities in the European Community, revision 2 | Central Statistical Bureau

What is a Foundation Decision/Contract, and what should be included in it?

A Foundation Decision/Contract is a crucial aspect of founding a business. It should include the planned name, equity amount and how it will be paid, as well as the founders and board members. It includes information about the business and its operations. 
You can find out more or view document examples here: Registering a SIA in the Enterprise Register.

What should I include as the payment purpose when I make the equity payment?

When making the equity payment, write "Equity" as the payment purpose.

How long does it take to open a temporary account?

Depending on how many applications we receive, we will review and give you an answer on your application wihin 1-3 business days. 

More questions
I have made my equity payment, what documents do I need to submit to the Enterprise Register as confirmation?

You can submit a payment confirmation for the account from which you transferred the money, or you can ask us to issue a statement on the payment. Commission fee for the preparation of the statement is according to the bank's price list.

Why does a business need a temporary account?

A temporary account for a business is a bank account which the business opens during its initial registration process. It is temporary and is opened before a business is founded. This account is necessary for paying in equity and completing the business registration process. It is not a current account, and it cannot be used for other incoming or outgoing payments apart from the equity payment.

Who can open a temporary account remotely?

Only newly-founded companies from the Republic of Latvia which have a single founder who is a private individual can open a temporary account remotely.

How can I find out if the name of the new business is unique?

You can check the name of your business heret www.ur.gov.lv/lv/.

Where can I find out which NACE code applies to my business?

You can find out the NACE code which matches your economic activity here: NACE: Statistical classification of economic activities in the European Community, revision 2 | Central Statistical Bureau

What is a Foundation Decision/Contract, and what should be included in it?

A Foundation Decision/Contract is a crucial aspect of founding a business. It should include the planned name, equity amount and how it will be paid, as well as the founders and board members. It includes information about the business and its operations. 
You can find out more or view document examples here: Registering a SIA in the Enterprise Register.

What should I include as the payment purpose when I make the equity payment?

When making the equity payment, write "Equity" as the payment purpose.

How long does it take to open a temporary account?

Depending on how many applications we receive, we will review and give you an answer on your application wihin 1-3 business days. 

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