ABLV Bank, AS|
23 Elizabetes Street
Riga, LV-1010, Latvia
Tel: +371 6777 5222|
Fax: +371 6777 5200
Client line: +371 6777 5555
Our lawyers will help you in solving various issues — from drawing up small agreements and up to the management of complex projects.
Due to wide partner network worldwide, we are able to provide professional and comprehensive advice on international law, and our stringent confidentiality requirements ensure you necessary comfort level.
Our lawyers have extensive experience in legal support of projects on buying and selling real estate, equipment supply, service delivery and trade operations. In addition, they will provide you competent support in solving various legal issues and render other necessary legal services, such as assistance in buying or selling a business, advice on legislation issues, drafting of model agreements, etc.
Contact your private banker to receive more detailed information.
A residence permit allows travelling in Schengen area without visa. Moreover, you don’t need to stay in Latvia permanently to maintain the residence permit.
The process of acquiring real estate and movable property (yachts, boats, planes) is usually complex and varies in different jurisdiction.
To pay the entire amount of the purchase the client planned to use money got from the sale of his property in Jurmala. Both copies of the sales agreement were already signed, but due to unforeseen circumstances, there was a delay in the client’s obtaining of one million euro as the security for the sale of his property. By that time the deadline for the remaining amount for the purchase of the property in Nice came; otherwise the client risked losing his pledge.
We were in the full control of the deal with Jurmala property sale, and we knew when the client would receive the money. So we gave him an unsecured overdraft in the amount of $ 500 thousand euros short. The loan was approved by the Credit Committee and issued to the client within two hours.
The same day the seller in Nice received the money.
Head of Private Banking Department Latvia
We organized a bank meeting with the client, the apartment seller and our representative. To close the deal successfully the parties agreed to use the escrow account through which our client was able to buy the chosen apartment without any worry. The seller was also satisfied with the payment procedure, because the escrow account supported his interests as well.
Since our client became the owner of real estate in Latvia, we also proposed to arrange the residence permit in Latvia for her family that would allow them to travel freely in the European Union. Within a few weeks this issue was successfully fixed, and our client’s confidence in our bank strengthen even more.
Head of Private Banking Department East