Special-Purpose Companies

Special-purpose companies are usually established for transactions of one kind, or a limited number of transactions — for example, for the management of intellectual property, maritime transport or a private foundation.

To achieve business targets, the major tasks are to:

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  • Entering the international market due to the bank guarantee

    For a long time our client’s business has been successfully developing in Latvia, but he could not reach an international business level to sign contracts abroad. Potential partners expected to have necessary bank guarantees on the performance of work, as well as experience to implement them.
    • The client was unable to acquire international experience of orders’ implementation, as far as no commercial bank wanted to take risks and responsibility to issue a guarantee to the client without any proper experience.

      We estimated our customers’ professionalism and experience in the Latvian market. His loyalty to our bank allowed us to issue him the unsecured guarantee for the realization of a small international contract.

    • In next 5 years, this small contract has been transformed into a multi-million dollar long-term deals, and our client’s income increased by 10 times.

      This qualitative development of the client's business has occurred also due to a small guarantee that we gave him after having carefully assessed all the existing risks.

    Vladislavs Serdjuks

    Head of Private Banking Department North

  • Secure investment in the company's development

    Our client planned opening a business in a neighboring country. He appointed his nephew as the head of this new business.
    • The client was trustful to his relative but at the same time he understood that the family ties played against him in terms of control and discipline. Moreover, the country was known for its specific risks.

      The money for the new business development can be invested in different ways, but our client has chosen a fiduciary contract as the most rational option. Thus, funds for business development were sent as a bank loan with the credit rate fixed by the client.

    • Credit obligations and strict repayment schedule disciplined our client’s nephew. At the same time credit interests reduced the borrower's income tax base. We provided a competent legal performance of the transaction, and now we’re regularly monitoring the execution of payments.

    Andrejs Jermoņins

    Head of Private Banking Department South