Online Forex trading in Latvia is legal and operates under a comprehensive regulatory framework overseen by both national and European authorities. Forex brokers doing business in Latvia must comply with regulations at the Eurozone level through the European Securities and Markets Authority and at the national level through the Latvian Financial and Capital Market Commission. Foreign exchange trading companies may commence activities after registration in the register maintained by Latvijas Banka in accordance with the Law on Payment Services and Electronic Money (1).
Latvia has no foreign exchange controls or restrictions on capital repatriation, making it an attractive jurisdiction for financial services. The supervision and licensing of institutions that provide foreign exchange is carried out by the Bank of Latvia, ensuring regulatory compliance and consumer protection. Various payment methods including wire transfers, letters of credit, and credit card payments are commonly used in Latvia's financial markets (2).
"There are no foreign exchange controls or restrictions on capital repatriation in Latvia. The supervision and licensing of institutions that provide foreign exchange is carried out by the Bank of Latvia."
Foreign exchange trading companies must meet strict requirements before registration, including being registered as a capital company with no tax debts and ensuring all shareholders, stockholders, and officials comply with anti-money laundering and terrorism financing prevention laws. The registration process involves application submission, assessment by Latvijas Banka, and payment of examination fees starting at 2,500 euros. Once registered, companies pay an annual fee of 2,000 euros plus up to 0.2 percent of total foreign currency transactions, not exceeding 20,000 euros per year (1).
Source:
https://www.bank.lv/en/operational-areas/licensing/currency-exchange-companies
https://www.trade.gov/country-commercial-guides/latvia-trade-financing
Last updated: 15-10-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
