The Republic of Latvia Sample Clauses

The Republic of Latvia. In the Republic of Latvia foreign credit institutions may participate in the capital of credit institutions, establish a branch as well as open representative offices. Foreign credit institutions have to notify the Financial and Capital Market Commission regarding the acquisition or increase of a qualifying holding in a credit institution. In case of acquisition or increase of qualifying holding above the thresholds set by the law those activities are subject to authorization by the European Central Bank in cooperation with the Financial and Capital Market Commission, The branches of foreign credit institutions can provide financial services after the receipt of a licence (permit). Decisions on issuing a licence (permit) are passed by the European Central Bank in cooperation with the Financial and Capital Market Commission. Foreign credit institutions have to notify the Financial and Capital Market Commission regarding the opening of representative offices in the Republic of Latvia.
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