Credit institution licence (bank) (Latvia)
The Credit institution licence (bank) is issued by Latvijas Banka (LB) under Law on Latvijas Banka. It can be passported to the other EU/EEA states by notification. The official register lists 10 current holders. The legal decision period is 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB. The application fee is EUR 0 (free of charge). Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Credit institution licence (bank)1 |
|---|---|
| Also known as | Latvian bank licence · Latvian banking licence · Latvian credit institution licence |
| Issued by | Latvijas Banka |
| Jurisdiction | Latvia |
| Licence family | Bank / credit institution |
| Legal basis | Law on Latvijas Banka2 Credit Institution Law3 Directive 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD IV)4 |
| Passporting | EU/EEA passport available |
| Application fee | EUR 0 (free of charge)1 |
| Statutory decision time | 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB1 |
| Public register | official register5 |
| Current holders | 105 |
What it lets you do
| Taking deposits from the public | Accepting deposits or other repayable funds from the public, the activity reserved to credit institutions. |
|---|---|
| Lending | Granting loans, including consumer credit, mortgage credit, factoring and financing of commercial transactions. |
| Execution of payment transactions | Executing direct debits, card payments and credit transfers, including standing orders, from a payment account. |
Where it is valid
How long it takes
Statutory: 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB1. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior approval required. Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 33%, or 50% of capital or voting rights, or causing the entity to become a subsidiary, requires prior notification and approval from Latvijas Banka. Under Latvijas Banka Regulation No. 241 and the Credit Institution Law, the assessment period is 60 working days from receipt of a complete notification, interruptible once by up to 20 or 30 working days to request supplementary documents; Latvijas Banka evaluates reputation, financial soundness, and AML/CFT compliance before issuing approval.6
Bank in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | Financial Services Permission for Accepting DepositsFinancial Services Permission for Accepting Deposits (Category 1 Commercial Bank) | FSRA | n/a | USD 70,000 | n/a |
| Bermuda | Banking Licence / Deposit Company Licence / Restricted Banking LicenceBanking Licence / Deposit Company Licence / Restricted Banking Licence (Banks and Deposit Companies Act 1999) | BMA | n/a | n/a | n/a |
| Cayman Islands | Bank LicenceBank Licence (Category A and Category B) under the Banks and Trust Companies Act | CIMA | n/a | n/a | n/a |
| Czech Republic | Commercial Bank licence | CNB | n/a | CZK 200,000 | n/a |
| Dubai International Financial Centre (DIFC) | Bank licenceFinancial Services Permission for Accepting Deposits or Providing Credit (Category 1 Commercial Bank) | DFSA | n/a | USD 70,000 | n/a |
| Estonia | Credit institution authorisation (bank) | FI | n/a | EUR 5,000 | ~6 mo |
| Georgia | Commercial bank licence | NBG | n/a | n/a | ~6 mo |
| Germany | CRR) | BaFin | n/a | n/a | ~6 mo |
| Ireland | Banking LicenceBanking Licence (Section 9 Central Bank Act 1971) | CBI | n/a | n/a | ~6 mo |
| Latvia | Credit institution licence (bank) | LB | n/a | n/a | 4-13 mo |
| Lithuania | Specialised bank licence | LB | n/a | EUR 4,157 | ~6 mo |
| Lithuania | Bank licence | LB | n/a | n/a | n/a |
| Luxembourg | Credit institution authorisation | CSSF | n/a | EUR 75,000 | ~6 mo |
| Malta | Credit institution licence | MFSA | n/a | EUR 35,000 | ~6 mo |
| Netherlands | Bank licenceBank licence (Vergunning bank / kredietinstelling) | DNB | n/a | EUR 44,300 | ~6 mo |
| Poland | Commercial Bank licence | KNF | n/a | n/a | n/a |
| Singapore | Banking LicenceBanking Licence (Full Bank, Wholesale Bank, Digital Bank) | MAS | n/a | n/a | n/a |
| Slovakia | Banking licence | NBS | n/a | n/a | n/a |
| Spain | Commercial bank licence | BdE | n/a | n/a | ~6 mo |
| Switzerland | FinTech licence (PersonsFinTech licence (Persons pursuant to Article 1b Banking Act | FINMA | n/a | CHF 100 | n/a |
| Switzerland | Banking licence | FINMA | n/a | n/a | n/a |
| United Arab Emirates | Commercial Bank Licence | CBUAE | n/a | n/a | n/a |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Capital Requirements Directive: Directive 2013/36/EU
- Capital Requirements Regulation: Regulation (EU) No 575/2013
Sources
- bank.lv: how to obtain authorisation · retrieved 2026-09-24
- Latvian legislation portal (likumi.lv): 326575 · retrieved 2026-09-24
- Latvian legislation portal (likumi.lv): 37426 · retrieved 2026-09-24
- EUR-Lex: CELEX 32013L0036 · retrieved 2026-09-24
- bank.lv: market participants · retrieved 2026-09-24
- bank.lv: procedure for the evaluation of qualifying holding · retrieved 2026-09-24
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