Financial Services License in Latvia
Providing financial services in Latvia requires authorization from Latvijas Banka (Bank of Latvia), which became the single financial regulator and central bank when the FKTK was integrated in January 2023. A full banking license requires €5,000,000 in minimum capital.
BIZ TRP confirms which license type your business actually needs before you commit to anything.
At a glance
- Authority
- Latvijas Banka (Bank of Latvia)
- Regulator merger
- FKTK integrated 1 Jan 2023
- Bank license minimum capital
- €5,000,000
- Legal basis
- Credit Institution Law
Who needs this
- A capital company (SIA or AS) Required
- The relevant minimum capital, fully paid Required
- Compliance with the specific legislation for your license type Required
Registration process
Determine which license type you need
Bank, payment institution, e-money institution, or investment firm — each with different capital and compliance requirements.
Establish your capital company
SIA or AS, with the correct capital for your license type.
Prepare your application dossier
Business plan, governance, AML/CFT framework, and management fit-and-proper documentation.
Submit to Latvijas Banka
For review and licensing decision.
What it costs
Government fees
- Bank license minimum capital
- €5,000,000
BIZ TRP fees
- Route confirmation & application support
- Ask us for a quote — from €120/hour
Why work with BIZ TRP
Confirming which specific financial license your business needs — not defaulting to the highest-capital option — is the single most important decision in this process.
- We confirm which license type actually fits your business. Not the highest-capital option by default.
- We prepare your full application dossier. Governance, AML/CFT framework, and management documentation.
- We liaise with Latvijas Banka. Throughout the review process.
Common questions
Does every financial license need €5,000,000?
No — that figure specifically applies to a full bank (credit institution) license. Other license types (payment institution, EMI) have lower thresholds. We confirm the exact figure for what you're building.
Why does the 2023 merger matter?
It means a single regulator (Latvijas Banka) now handles both licensing and central banking functions — a genuinely simplified structure compared to the previous two-body system.
Need help with Financial Services License in Latvia?
BIZ TRP confirms which financial license your business actually needs before you commit capital to the wrong structure.
Talk to us about Financial Services License Email us