In 2001, four Latvian entrepreneurs founded BluOr Bank AS (hereinafter „BluOr Bank“) in Riga - initially as a bank only for companies engaged in international trade or acting as a holding company - gradually adding products for private customers. Today, BluOr Bank is the ninth largest bank in the country in terms of assets under management and has built its reputation as a reliable partner and financially stable organisation over the 21 years of the bank's existence. The bank is highly liquid every year and has remained profitable during Latvia's economic slowdown

In Latvia, a withholding tax of 20 % will be levied on interest payments from 1 January 2018, although this can be reduced. In order for the withholding tax to be reduced to 10%, the Bank must receive a certificate of residence no later than eight weeks before the due date. You should be able to claim additional tax relief for this foreign tax in Ireland.

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