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Riporto mail ricevuta ieri dalla banca lettone con cui collaboro :
Concerning shell companies-
In November of 2017 there have been some changes in the legislation of Latvia in regards to “Anti-money laundering and terrorist financing measures”. The changes mainly affect the definition of a shell corporation - https://likumi.lv/ta/id/294868-grozi...ersanas-likuma (p.15 – 151) “čaulas veidojums”. Unfortunately, the text is available only in Latvian.
According to the changes, a company is considered a shell corporation if the following properties apply to it:
a) The company is not connected to its’ business profile (the business profile in the company registry differs from the actual business activity) and the business activity of the company does not pose an economic benefit (the company doesn’t bring any profits, that must be paid to the beneficiaries of the company, which should be reflected in the financial statements of the company).
b) Normative acts of the country, where the company is registered, do not require mandatory preparation and filing of financial statements to the state authorities.
c) The company does not have a place of business (actual office space) in the country of registration of the company.
According to law, shell corporations are labelled as high-risk for the bank, which can cause the quantity of compliance requests and can affect the speed of processing of the payments. In addition to that, our local banking regulator may limit our cooperation with such companies.
Concerning shell companies-
In November of 2017 there have been some changes in the legislation of Latvia in regards to “Anti-money laundering and terrorist financing measures”. The changes mainly affect the definition of a shell corporation - https://likumi.lv/ta/id/294868-grozi...ersanas-likuma (p.15 – 151) “čaulas veidojums”. Unfortunately, the text is available only in Latvian.
According to the changes, a company is considered a shell corporation if the following properties apply to it:
a) The company is not connected to its’ business profile (the business profile in the company registry differs from the actual business activity) and the business activity of the company does not pose an economic benefit (the company doesn’t bring any profits, that must be paid to the beneficiaries of the company, which should be reflected in the financial statements of the company).
b) Normative acts of the country, where the company is registered, do not require mandatory preparation and filing of financial statements to the state authorities.
c) The company does not have a place of business (actual office space) in the country of registration of the company.
According to law, shell corporations are labelled as high-risk for the bank, which can cause the quantity of compliance requests and can affect the speed of processing of the payments. In addition to that, our local banking regulator may limit our cooperation with such companies.
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