Active EMI in Latvia for sale with SWIFT and Correspondent Accounts

Licence and regulation

• Licence type: Electronic Money Institution Licence, currently active
• Supervisor: Latvijas Banka
• Country and market: Latvia, serving the European Union
• Passporting: under the EU/EEA framework

Banking and payments

The payment infrastructure is already established and set up to run payment operations internationally. It may include SWIFT connectivity, correspondent banks, payment accounts in EUR, SEPA payments, corporate IBANs, payment services in several currencies and international transfers. Due diligence will confirm which banking relationships exist and how the accounts are structured.

Activities

• Issuing electronic money and processing payments
• Payment services, including payment accounts for corporate clients
• Money remittance, international transfers and cross-border payments

Advantages

• An EMI in Latvia, active and regulated in the EU
• Payment infrastructure already established, with SWIFT capability, correspondent banking and access to SEPA
• A compliance framework that already exists
• Potential for passporting across the EU