We use cookies to make your browsing experience better. Agree and share a cookie with us!

Customer support
Contacts

Information regarding bank’s target customer and required documents list

Luminor offers daily banking services to citizens or residents of Latvia, Lithuania, and/or Estonia, to legal entities, registered in Latvia, and EU-based legal entities` branches, registered in Latvia, whose main planned business activity is carried out in the Baltic States and who can identify their beneficial owner, and would like to establish a business relationship with all potential customers who see Luminor bank as a partner for everyday services, as well as lending, investments, or deposits.

Our risk strategy is based on the core business principle to serve customers who predominantly are citizens or residents of Estonia, Latvia, and/or Lithuania, and customers with a strong personal or business connection to the Baltic countries. To support the strategy, we have implemented and maintain a properly functioning risk management framework which is based on the Anti-Money Laundering, Countering the Financing of Terrorism, Counter Proliferation Financing (AML/CFT/CPF) and Sanctions Risk Policy and internal standards that are defining our AML/CFT/CPF and sanctions risk appetite.

Luminor has no risk appetite for cooperation with customers, who fall under AML/CFT/CPF and sanctions laws and regulations restrictions, as well as internal AML/CFT/CFP and Sanctions Policy based absolute risk appetite limitations, for example: 

  • anonymous customers; or 
  • customers who concurrently conform with indications of prohibited shell arrangements applicable by the Latvian AML Law; or
  • customers for whom Luminor cannot obtain full clarity and/or evidence of a reasonable economic and/or lawful purpose of its business activities or to identity the ultimate beneficial owner;
  • customers who are subjects to sanctions imposed by United Nations, European Union, or by the competent authority in the jurisdictions where Luminor operates (Estonia, Latvia, Lithuania).

We are committed to the protection of human rights, therefore we also follow sanctions imposed by United States OFAC, United Kingdom, Sweden, and Norway.

Additional information on AML/CFT/CPF and Luminor sanctions policy is available here.

Account opening: required documents list

Private customers:

Business customers:

  • „Know your customer" questionnaire;
  • Representative's identification document (ID/passport);
  • Memorandum/decision of incorporation (for a legal entity to be established) 

Depending on the situation, the Bank may request additional documents and/or information for customer due diligence purposes in accordance with the "Know Your Customer" principle (more information on the "Know Your Customer" principle can be found here). The Bank will assess the information and documents provided within 3 business days and will inform you via your chosen method of communication about the opening of the account or if additional information and/or documents are required. The timeframe within which the Bank will assess the information and documents submitted can differ due to the specific situation.

If the Bank shall not be provided with the requested information or if the information submitted is false, the Bank is prohibited from executing financial transactions and has the right to terminate the transaction or terminate the business relationship with the customer altogether (for more information please see section and here).

In addition, Luminor offers the possibility to open a basic account for individuals.