Our available API licenses in Latvia
Latvia’s Authorised Payment Institution (API) licence, issued by Latvijas Banka (which assumed supervisory responsibilities for payment institutions from the FCMC in 2024) under the Law on Payment Services and Electronic Money, authorises firms to provide a full range of regulated payment services — including money remittance, payment execution, payment initiation, merchant acquiring, and card-based transactions — across the EEA via passporting.
The API sits above the registered payment institution tier. Licensed APIs may provide all payment service categories defined in the PSD2 framework, including payment initiation services (PIS) and account information services (AIS). Capital requirement: €125,000, fully paid-up. At least one board member must be a Latvian or EEA resident. Latvijas Banka’s review timeline starts within 3 months of a complete file, with thorough substantive assessment of governance, AML, and operational readiness.
Latvia’s corporate tax on retained profits is 0% — the 20% rate applies only upon profit distribution — making it operationally efficient for reinvestment-focused payment businesses. Passporting notifications across the EEA are submitted through Latvijas Banka after authorisation.
One compliance note: at least one entity in Legasset’s Latvia API listings has a history of prior regulatory fines — due diligence on specific entities offered is essential before proceeding.
Legasset supports clients with both ready-made API acquisitions and new Latvijas Banka applications — capital structuring, compliance documentation, and EEA passport notifications.
Offer Information
API License for Sale #5
- Boasting a share capital of 70,000 EUR.
- This institution has recently transitioned from a Small Payment Institution (SPI), with no passporting and previously active own SWIFT.
- The institution maintains a business bank account in EU bank and operates with its own software.
- Monthly operating expenses amount to 3,000 EUR.
- Please note that there have been previous fines imposed on the institution.
