Starting a bank seems like a rather distant and unattainable goal, but in fact, that goal is not that different from starting any other legal entity. Certainly, with the involvement of other savers and potentially critical effects on a country's economy as a whole, it is important that banks are subject to stricter regulations and frequent audits. The European Commission and the European Central Bank are working together to strengthen the Economic and Monetary Union. One of the tools developed to accomplish the above task is a single supervisory mechanism that gives the ECB the power to carry out prudential reviews and inspections, ensure compliance with EU rules, set higher capital requirements, and issue or license banking licenses to withdraw. However, each EU Member State may have slightly different procedures and requirements for setting up banks. General procedure for starting a bank As with any other type of business, the first thing to consider is the real needs and potential market for the bank. In addition, you must prove the necessity and viability of the bank as part of the charter application process by submitting a business plan. A business plan typically shows a financial forecast for the next three to five years and the opportunity to generate profits for the bank's investors. An important detail when starting a bank is to find a strong team as a board of directors. Typically there could be five to thirteen people overseeing the entire bank's strategic plan and ensuring that employees comply with federal regulations as well as the bank's policies. The board of directors of the bank could also be the ones to invest their money as you will need a sufficient amount of seed funding to ensure all banking operations and to comply with regulators regarding the amount of collateral. Other sources of start-up capital can be a bank holding company, founding group, private equity fund or other supporting financial institution. In addition to the board members, you need to find a trusted team of professionals to ensure that all parts of the bank are functioning properly. For example, running a bank can be a rather confusing process with numerous regulations to follow. Hence, it is important to hire a legal team with preferential banking experience. Another extremely important team for a bank is risk management. The risk management infrastructure should be established prior to opening a bank so that various risks such as liquidity, market, credit, legal, reputational and operational risks are monitored and controlled, and policies and procedures are maintained from the start of the establishment of the bank Bank. Establishment of a bank in Latvia As a member state of the EU, Latvia is also part of the single supervisory mechanism, which gives the ECB powers for various supervisory measures, including the granting and revocation of banking licenses. In order for a bank in Latvia to obtain an operating license, it must provide a number of documents and other information in accordance with the Law on Credit Institutions and the Regulations on Issuing Operating Licenses for Credit Institutions and Credit Unions. The documents must be submitted to the Finance and Capital Market Commission. Once all the documents have been submitted, the Commission will examine the application for a banking license and, within three months, propose a draft decision to the ECB on the basis of which the ECB will grant or refuse a banking license. The minimum starting capital for a bank in Latvia should be 5 million euros. https://www.confiduss.com/en/jurisdictions/latvia/business/bank-account-opening/

The United States Logistics Performance Index is 3.92. It indicates good performance - the logistics system is well prepared and organized, shipments mostly arrive on time and are not damaged, and the infrastructure is ready to handle even unpredictably large volumes of traffic as long as they are not overwhelming. Customs performance is rated at 3.73. This indicates satisfactory performance - the customs clearance procedure is generally effective, although a long time can occasionally be a problem; the customs system certainly does not discourage international business; required documents and fees are generally publicly available. The quality of infrastructure in the United States is rated at 4.18. It indicates good quality - roads, railways, ports and other facilities are adapted and regularly maintained to be able to handle high traffic at all times, and most likely there are special facilities to deal with high-intensity and/or special traffic or vehicles ( e.g Autobahns aka Motorways and Deepwater Ports). International shipping quality is 3.45. It indicates satisfactory performance - the services are reasonable and the prices are not too high and usually correspond exactly to the quality, although there is still room for improvement. The competence of logistics service providers is rated at 3.97. Providers are very competent – ​​they ensure high quality of shipments and traffic management at all times, work quickly and reliably; Any errors that may occur are readily compensated. Tracking options are rated 4.14. This indicates good performance – the tracking systems provide detailed and up-to-date information on most shipment parameters, often crossing national (both political and linguistic) barriers and can be qualified as international tracking systems. Tracking options are rated 4.14. This indicates good performance - shipments almost always arrive within scheduled time frames and often faster than expected. In the United States, 100% of the population has access to electricity. The United States has 13,513 airports nationwide. There are 505,000,000 internet hosts in the United States. The number of road motor vehicles per 1000 people in the United States is 200. Road network The total road length in the United States is 6,586,610 km (4,093,605 miles). Of these, 77,017 km (47,866 miles) of roads are classified as freeways, dual carriageways, or freeways. Gas price On average, you pay $0.76 for a liter of gasoline in the United States. A liter of diesel would cost $0.65. http://www.confiduss.com/en/jurisdictions/the-united-states/infrastructure/