# Latvijas Banka (LB): register, licences and requirements

Source page: https://protegra.io/licensing/regulators/latvijas-banka/

Latvijas Banka (LB) is the central bank and single integrated financial supervisor of Latvia. It licenses and supervises credit institutions, payment and electronic money institutions, investment firms, crowdfunding platforms, and crypto-asset service providers under EU MiCA. As of September 2026, LB supervises 12 authorised electronic money institutions, 11 payment institutions, 10 commercial banks, and 10 MiCA crypto-asset service providers, providing fintechs direct clearing access to Eurosystem SEPA rails.

## How to check a firm on the LB register

Search the Latvijas Banka Financial Market Participant Register by entity name, registration number, or market segment using filter dropdowns. An active entry details the institution's legal name, registration code, legal address, contact information, licensed services and activities, date of authorisation or registration, and passporting status across the EU/EEA. [3]

- [Financial market participant register (all supervised sectors)](https://www.bank.lv/en/financial-market-participant-register) [3]
- [Authorised electronic money institutions](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions) [13]
- [Registered electronic money institutions](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions) [14]
- [Authorised payment institutions](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions) [15]
- [Registered payment institutions](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions) [16]
- [Crypto-asset market participants and authorized CASPs](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market) [17]
- [Credit institutions / commercial banks](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks) [18]
- [Investment firms](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms) [19]
- [Crowdfunding service providers](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers) [20]

## At a glance

| Official name | Latvijas Banka |
| --- | --- |
| Jurisdiction | [Latvia](https://protegra.io/licensing/jurisdictions/latvia/) |
| Type | Central bank |
| Headquarters | Riga [1] |
| Founded | 1922 [1] |
| Website | [bank.lv](https://www.bank.lv/en/) [2] |
| Public register | [Official public register](https://www.bank.lv/en/financial-market-participant-register) [3] |
| Licence types in the Atlas | 8 |

## What LB supervises

Latvijas Banka is the central bank of the Republic of Latvia and member of the Eurosystem, operating as the single integrated financial supervisor since 1 January 2023 (integrating the former FCMC/FKTK) with statutory responsibility for monetary policy, financial stability, and prudential and conduct supervision across banking, payments, securities, and crypto-asset sectors. [21]

- Electronic money institutions and payment institutions [7]
- Crypto-asset service providers under EU MiCA Regulation [11]
- Commercial banks and credit institutions [12]
- Investment firms and market operators [22]
- Crowdfunding service providers under ECSPR [20]
- Alternative investment fund managers and UCITS management companies [3]

## Licences LB issues

- [Bank · LatviaCredit institution licence (bank)](https://protegra.io/licensing/licences/bank/latvia/)
- [CASP · LatviaCrypto-asset service provider licence under MiCA](https://protegra.io/licensing/licences/casp-mica/latvia/)
- [EMI · LatviaRegistered electronic money institution](https://protegra.io/licensing/licences/emi/latvia-registered/)
- [EMI · LatviaAuthorised electronic money institution licence](https://protegra.io/licensing/licences/emi/latvia/)
- [IF · LatviaInvestment firm licence](https://protegra.io/licensing/licences/investment-firm/latvia/)
- [Credit · LatviaCrowdfunding service provider authorization](https://protegra.io/licensing/licences/lending/latvia-crowdfunding/)
- [PI · LatviaRegistered payment institution](https://protegra.io/licensing/licences/payment-institution/latvia-registered/)
- [PI · LatviaAuthorised payment institution licence](https://protegra.io/licensing/licences/payment-institution/latvia/)

## Lesser-known services for applicants

Available

### Pre-application meeting / pre-assessment

Latvijas Banka offers free pre-application consultation meetings with prospective market participants to assess business models, licensing pathways, regulatory readiness, and AML framework design prior to formal filing. [4]

Available

### Innovation hub

Latvijas Banka operates an Innovation Hub providing direct support, regulatory guidance, and pre-licensing advice for fintech and crypto-asset firms (contact: fintech@bank.lv, +371 67 022 646). [4]

Available · policy

### Regulatory sandbox

Latvijas Banka maintains a Regulatory Sandbox allowing market participants and startups to test innovative financial services, technologies, or business models with real customers under agreed testing parameters and supervisory oversight. [5]

**Fee schedule:** Latvijas Banka fee schedules for examination of licensing applications and annual supervision under national law and regulations, including reduced levies for innovative payment service providers. [6]

Compare with other regulators: [pre-application meetings](https://protegra.io/licensing/tools/pre-application/) · [sandboxes and innovation hubs](https://protegra.io/licensing/tools/sandboxes/).

## Statistics

_Current licence holders in the official register [18] [17] [14] [13] [19] [20] [16] [15]_

- 12 authorized electronic money institutions active in Latvia (register, 2026-09-24) [13]
- 1 registered electronic money institution active in Latvia (register, 2026-09-24) [14]
- 11 authorized payment institutions active in Latvia (register, 2026-09-24) [15]
- 0 registered payment institutions active in Latvia (register, 2026-09-24) [16]
- 10 authorized crypto-asset service providers under MiCA listed in the crypto-asset market register (register, 2026-09-24) [17]
- 10 commercial banks licensed and operating in Latvia (register, 2026-09-24) [18]
- 13 investment firms authorized and supervised in Latvia (register, 2026-09-24) [19]
- 8 crowdfunding service providers authorized under ECSPR Regulation (register, 2026-09-24) [20]

## Fees and timelines

| Licence | Fee | Amount |
| --- | --- | --- |
| [Authorised electronic money institution licence](https://protegra.io/licensing/licences/emi/latvia/) | application | EUR 5,000 (standard) or EUR 450 (innovative PSP) [7] |
| [Authorised electronic money institution licence](https://protegra.io/licensing/licences/emi/latvia/) | annual | EUR 7,000 plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years) [7] |
| [Registered electronic money institution](https://protegra.io/licensing/licences/emi/latvia-registered/) | application | EUR 2,500 (standard) or EUR 450 (innovative PSP) [8] |
| [Registered electronic money institution](https://protegra.io/licensing/licences/emi/latvia-registered/) | annual | EUR 1,000 plus up to 1.4% of gross revenue [8] |
| [Authorised payment institution licence](https://protegra.io/licensing/licences/payment-institution/latvia/) | application | EUR 5,000 (standard) or EUR 450 (innovative PSP) [9] |
| [Authorised payment institution licence](https://protegra.io/licensing/licences/payment-institution/latvia/) | annual | EUR 7,000 (or EUR 3,000 for AIS/PIS) plus up to 1.4% of gross revenue (or EUR 1,000 fixed for innovative PSPs in first 3 years) [9] |
| [Registered payment institution](https://protegra.io/licensing/licences/payment-institution/latvia-registered/) | application | EUR 2,500 (standard) or EUR 450 (innovative PSP) [10] |
| [Registered payment institution](https://protegra.io/licensing/licences/payment-institution/latvia-registered/) | annual | EUR 1,000 plus up to 1.4% of gross revenue [10] |
| [Crypto-asset service provider licence under MiCA](https://protegra.io/licensing/licences/casp-mica/latvia/) | application | EUR 2,500 [11] |
| [Crypto-asset service provider licence under MiCA](https://protegra.io/licensing/licences/casp-mica/latvia/) | annual | up to 0.6% of gross revenue per calendar year (minimum EUR 3,000) [11] |
| [Credit institution licence (bank)](https://protegra.io/licensing/licences/bank/latvia/) | application | EUR 0 (free of charge) [12] |

_Time to a decision for Authorised electronic money institution licence: statutory deadline vs observed._

| Licence | Statutory deadline | Observed |
| --- | --- | --- |
| [Authorised electronic money institution licence](https://protegra.io/licensing/licences/emi/latvia/) | 15 working days completeness check, followed by 3 months decision period from receipt of complete application [7] | not published |
| [Registered electronic money institution](https://protegra.io/licensing/licences/emi/latvia-registered/) | 15 working days completeness check, followed by 1 month decision period from receipt of complete application [8] | not published |
| [Authorised payment institution licence](https://protegra.io/licensing/licences/payment-institution/latvia/) | 15 working days completeness check, followed by 3 months decision period from receipt of complete application [9] | not published |
| [Registered payment institution](https://protegra.io/licensing/licences/payment-institution/latvia-registered/) | 15 working days completeness check, followed by 1 month decision period from receipt of complete application [10] | not published |
| [Crypto-asset service provider licence under MiCA](https://protegra.io/licensing/licences/casp-mica/latvia/) | 25 working days completeness review, followed by 40 working days decision period under MiCA Art. 63 [11] | not published |
| [Credit institution licence (bank)](https://protegra.io/licensing/licences/bank/latvia/) | 1 month completeness check, followed by 3 to 12 months decision period in conjunction with the ECB [12] | not published |

## Changing the owner of a licensed firm

**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. [23]

Buying a company that already holds one of these licences is often faster than applying. See [ready-made licensed companies](https://protegra.io/companies/) · [crypto digital assets](https://protegra.io/companies/crypto-digital-assets/).

## Laws LB applies

- [Markets in Crypto-Assets Regulation](https://protegra.io/licensing/laws/eu-mica-2023-1114/): Regulation (EU) 2023/1114
- [Directive (EU) 2015/2366 on payment services in the internal market](https://protegra.io/licensing/laws/eu-psd2-2015-2366/): Directive (EU) 2015/2366
- [Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions](https://protegra.io/licensing/laws/eu-emd2-2009-110/): Directive 2009/110/EC
- [Directive 2014/65/EU on markets in financial instruments](https://protegra.io/licensing/laws/eu-mifid2-2014-65/): Directive 2014/65/EU
- [Capital Requirements Directive](https://protegra.io/licensing/laws/eu-crd-2013-36/): Directive 2013/36/EU
- [Capital Requirements Regulation](https://protegra.io/licensing/laws/eu-crr-575-2013/): Regulation (EU) No 575/2013
- [Digital Operational Resilience Act](https://protegra.io/licensing/laws/eu-dora-2022-2554/): Regulation (EU) 2022/2554
- [European Crowdfunding Service Providers Regulation](https://protegra.io/licensing/laws/eu-ecspr-2020-1503/): Regulation (EU) 2020/1503
- [Transfer of Funds Regulation (travel rule)](https://protegra.io/licensing/laws/eu-tfr-2023-1113/): Regulation (EU) 2023/1113

## Recent and upcoming changes

- 2026-06-03: Latvijas Banka updated regulatory enactments establishing a preferential examination fee of EUR 450 and a capped annual fee of EUR 1,000 for innovative payment service providers. [6]
- 2024-12-30: EU Markets in Crypto-Assets Regulation (MiCA, Regulation (EU) 2023/1114) became applicable, establishing Latvijas Banka as national competent authority for CASP licensing. [24]
- 2023-01-01: Full statutory merger of the Financial and Capital Market Commission (FKTK) into Latvijas Banka took effect under the Law on Latvijas Banka, creating a single integrated financial supervisor. [21]

## Contacts and public register

Address: K. Valdemāra iela 2A, Rīga, LV-1050, Latvia [2]
Website: [bank.lv](https://www.bank.lv/en/) [2]

Check whether a firm is licensed: [official register](https://www.bank.lv/en/financial-market-participant-register) [3] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions) [13] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions) [14] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions) [15] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions) [16] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market) [17] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks) [18] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms) [19] · [official register](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers) [20].

## Frequently asked questions

### What is the role of Latvijas Banka following the integration of FKTK?

On 1 January 2023, the Financial and Capital Market Commission (FKTK) was fully merged into Latvijas Banka under the new Law on Latvijas Banka. The central bank became Latvia's single integrated supervisory authority, combining national monetary policy implementation and macroprudential oversight with direct prudential and conduct supervision over banks, electronic money and payment institutions, investment firms, and crypto-asset service providers.

### Can fintechs obtain direct access to SEPA payment systems through Latvijas Banka?

Yes. Authorised payment and electronic money institutions licensed by Latvijas Banka can connect directly to the Eurosystem SEPA payment rails via Latvijas Banka's Electronic Clearing System (EKS). This direct technical participation allows fintechs to issue customer IBAN accounts and process SEPA and SEPA Instant credit transfers without depending on an intermediary commercial correspondent bank.

### What are the statutory licensing timelines and fees for payment and e-money institutions in Latvia?

Application examination costs EUR 5,000 for full licence or EUR 2,500 for registered status, reduced to EUR 450 for innovative fintechs. The statutory decision deadline is 3 months from receipt of a complete application (1 month for registered entities), following a 15 working day completeness review.

### How does Latvijas Banka regulate crypto-asset service providers under MiCA?

Latvijas Banka is the designated national competent authority in Latvia under Regulation (EU) 2023/1114 (MiCA). Crypto-asset service providers (CASPs) must obtain authorization with initial capital between EUR 50,000 and EUR 150,000 depending on service scope. Application review costs EUR 2,500, with statutory decision deadlines of 25 working days for completeness and 40 working days for substantively approving the licence.

### What qualifying holding thresholds require change-of-control approval from Latvijas Banka?

Acquiring or increasing a holding in a licensed bank, EMI, PI, or investment firm that reaches or crosses 10%, 20%, 33%, or 50% of capital or voting rights requires prior notification and approval under Latvijas Banka Regulation No. 241. Latvijas Banka assesses buyer reputation, financial soundness, and AML controls within 60 working days, interruptible by up to 20 or 30 working days.

### Does Latvijas Banka provide an Innovation Hub and Regulatory Sandbox for fintechs?

Yes. Latvijas Banka operates an Innovation Hub providing free regulatory advice and pre-application meetings for fintech and crypto firms. It also runs a Regulatory Sandbox that enables firms to test innovative financial products and services with live clients under agreed parameters and supervisory guidance, helping firms validate business models and compliance prior to full commercial rollout.

## Sources

1. [en.wikipedia.org: Bank of Latvia](https://en.wikipedia.org/wiki/Bank_of_Latvia): retrieved 2026-09-24
2. [bank.lv](https://www.bank.lv/en/): retrieved 2026-09-24
3. [bank.lv: financial market participant register](https://www.bank.lv/en/financial-market-participant-register): retrieved 2026-09-24
4. [bank.lv: innovation hub](https://www.bank.lv/en/operational-areas/supervision/support-for-fintech-and-innovations/innovation-hub): retrieved 2026-09-24
5. [bank.lv: regulatory sandbox](https://www.bank.lv/en/operational-areas/supervision/support-for-fintech-and-innovations/regulatory-sandbox): retrieved 2026-09-24
6. [bank.lv: 17699 reduced fees for innovative payment service providers](https://www.bank.lv/en/component/content/article/681-services/760-services-for-fintechs/17699-reduced-fees-for-innovative-payment-service-providers): retrieved 2026-09-24
7. [bank.lv: licensed electronic money institution](https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/licensed-electronic-money-institution): retrieved 2026-09-24
8. [bank.lv: registered electronic money institution](https://www.bank.lv/en/operational-areas/licensing/electronic-money-institutions/registered-electronic-money-institution): retrieved 2026-09-24
9. [bank.lv: licensed payment institution](https://www.bank.lv/en/operational-areas/licensing/payment-institution/licensed-payment-institution): retrieved 2026-09-24
10. [bank.lv: registered payment institution](https://www.bank.lv/en/operational-areas/licensing/payment-institution/registered-payment-institution): retrieved 2026-09-24
11. [bank.lv: crypto asset service providers](https://www.bank.lv/en/operational-areas/licensing/crypto-asset/crypto-asset-service-providers): retrieved 2026-09-24
12. [bank.lv: how to obtain authorisation](https://www.bank.lv/en/operational-areas/licensing/credit-institution/how-to-obtain-authorisation): retrieved 2026-09-24
13. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=78-authorized-electronic-money-institutions): retrieved 2026-09-24
14. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=82-registered-electronic-money-institutions): retrieved 2026-09-24
15. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=97-authorized-payment-institutions): retrieved 2026-09-24
16. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=102-registered-payment-institutions): retrieved 2026-09-24
17. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=202-crypto-asset-market): retrieved 2026-09-24
18. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=42-banks): retrieved 2026-09-24
19. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=112-investment-firms): retrieved 2026-09-24
20. [bank.lv: market participants](https://www.bank.lv/en/financial-market-participant-register/market-participants?segments=466-crowdfunding-service-providers): retrieved 2026-09-24
21. [likumi.lv: 326575](https://likumi.lv/ta/en/en/id/326575): retrieved 2026-09-24
22. [likumi.lv: 332418](https://likumi.lv/ta/en/en/id/332418): retrieved 2026-09-24
23. [bank.lv: procedure for the evaluation of qualifying holding](https://www.bank.lv/en/operational-areas/licensing/credit-institution/procedure-for-the-evaluation-of-qualifying-holding): retrieved 2026-09-24
24. [eur-lex.europa.eu: HTML (32023R1114)](https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32023R1114): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.