Business in Latvia

Tuesday, June 10, 2014

Structure of bank assets in Latvia

Structure of bank assets as of Q1 2014 in Latvia (source)
Loans - 53.4%
Due from credit institutions - 21.4%
Securities - 13.8%
Cash and deposits with the Bank of Latvia - 8.7%
Fixed assets and intangible assets - 0.6%
Other assets - 2.1%

Loans
In finance, a loan is a debt provided by one entity (organization or individual) to another entity at an interest rate, and evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment.

Securities
A security is a tradable financial asset of any kind.
Securities categorization:

debt securities, (e.g., banknotes, bonds and debentures)
equity securities, (e.g., common stocks)
derivative securities, (e.g., forwards, futures, options and swaps).

Fixed assets

Fixed assets, also known as "tangible assets" or property, plant, and equipment (PP&E), is a term used in accounting for assets and property that cannot easily be converted into cash.

Monday, June 9, 2014

Automated Teller Machine (ATM) in Latvia

ATM

A machine, activated by a magnetically encoded card or other medium, that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals, and transferring funds between accounts.

ATM's in Latvia

As of 2014 there are 1154 active ATM's in Latvia.^[1] Latvia's 1,99^[2] million inhabitants hold 2385 bank payment cards.

Biggest bank ATM's locations

Swedbank: link
SEB: link
Citadele: link
DNB Nord: link

Nordea: link (Latvian)

Wednesday, April 30, 2014

SEB works to rebuild profits

RIGA - Although Swedish bank SEB has not yet recovered all that was lost during the financial crisis, overall, the bank’s operations have recently been profitable in Latvia, SEB bank President Ainars Ozols said in an interview with Rietumu Radio on Feb. 26, reports LETA.

“Overall, we have been operating with a small profit, but profit nonetheless, since SEB entered Latvia in 1993; however, following the crisis, we have not yet recovered what we lost,” confirmed Ozols. It is not a goal of the bank though to recover the lost money as soon as possible, but to organize operations so it would function without losses in the future.

2013 was a successful year for SEB bank - there were positive trends, new clients joined the bank and it began implementation of new projects, said Ozols. In terms of profits, 2013 was a “mediocre” year, however.

Source: http://baltictimes.delfi.lv/news/articles/34508/#.U1-SbFWSymE

Tuesday, April 29, 2014

Last year 40% GDP of Latvian enterprises consisted of 7 billion Euros

Last year 40% GDP of Latvian enterprises consisted of 10 billion Euros

First 37 000 enterprises who submitted annual return total turnover were 9.9 billion Euros, but single enterprise's average turnover were 263 000 Euros.

In comparison with last term there is visible financial improvement. From 230 000 Eur in 2012 to 263 000 Eur in 2013 is 14% annual economics growth.

Also profitability has improved by 2 times then in period before.

Thursday, April 24, 2014

Offshore in Gibraltar by Baltic Legal

Baltic Legal LLC opens new quality services - offshore company registration.

Right now Gibraltar is one of top offers. To view Gibraltar offshore company page click here.

Wednesday, March 26, 2014

Lawyer in the Republic of Latvia

A lawyer is needed when problems in front of law or court arrise.
There is my project called "Lawyer in Latvia" where you can obtain corporate lawyer services through my cooperative company called Baltic Legal (I work as internet marketing specialist).

Visit the project here.

Thursday, March 13, 2014

Baltic Legal, LLC goes Chinese with a new immigration project

Chinese immigration project is meant to provide information about moving to Europe, Latvia.

Visit residence permit in Latvia page to see project in action.

Monday, January 27, 2014

German Confederation of Trade Unions

The Confederation of German Trade Unions is an umbrella organization (sometimes known as a national trade union center) for eight German trade unions, in total representing more than 6 million people (31 December 2011). It was founded in Munich, 12 October 1949.

The DGB coordinates joint demands and activities within the German trade union movement. It represents the member unions in contact with the government authorities, the political parties and the employers' organisations. However, the umbrella organisation is not directly involved in collective bargaining and does not conclude collective labour agreements.

Union delegates elect committees for 9 districts, 66 regions and the federal centre. The organisation holds a federal congress every four years. This assembly sets the framework for trade union policies and elects five Federal Executives. Together with the presidents of the member unions they constitute the DGB's executive committee. The members of the executive committee, together with the DGB regional presidents and 70 delegates from the unions, form a Federal Council which meets once a year to make decisions on national issues. The DGB also has a youth organisation, DGB-Jugend.

http://en.wikipedia.org/wiki/German_Confederation_of_Trade_Unions

Monday, January 13, 2014

A new immigration portal. This time choose your immigration in Europe.

Choose the country from European immigration possible destinations.

Monday, October 21, 2013

LLC BALTIC LEGAL COMPANY REGISTRATION IN ONLINE PRESENCE :)

BALTIC LEGAL offers company registration, right now, here!

Thursday, October 3, 2013

Immigration for Indians and investment in Latvia

I just uploaded a new article about immigration to Europe, Latvia. But this article was made specifically for Indians.

Thursday, September 26, 2013

Real Estate in Latvia

Be sure to open escrow account in Latvia when you do purchase a real estate. It will give you a guarantee you don't lose your money and that you actually obtain your purchased item, in this case, house, apartment, land, factory or storehouse.