Guidelines for private individuals’ property declarations

On 15 December 2011 law on initial property declarations for private individuals, or the so-called "zero declarations" law, became effective in Latvia. This guideline offers detailed information on the submission of this declaration with State Revenue Service (SRS) in order to make the declaration process more convenient for you.

Please follow information updates in your Citadele online banking profile, this is the platform where you can access information on your accruals, loans allocated with Citadele Bank in one place. Please note that you do not need statements confirmed by the bank in order to submit your declaration with SRS.

Initial property declarations must be submitted with SRS in the following cases:
Individuals who were citizens of Latvia as of 31 December 2011, non-citizens of Latvia and aliens who possess valid residence permits for staying in Latvia (who have received permanent residence permits or permanent resident certificates) and simultaneously are residents of Latvia, and whose property status at 24:00 hrs of 31 December 2011 met at least one of the below mentioned criteria.

Funds/financial instruments

  • The total sum of your cash or equivalent savings in Latvia and/or abroad exceeds EUR 14 230 (or an equivalent sum in foreign currency*.
    (Cabinet Regulations No. 91 “Procedure for depositing private individuals’ cash savings with credit institutions”)
    Remarks
  • The total sum of your private pension fund savings and/or the total sum of your savings life insurance accruals in Latvia and/or abroad exceeds EUR 14 230 (or an equivalent sum in foreign currency*), including savings and/or accruals for under-aged children..
  • You have loans or other debt liabilities the outstanding sum of which exceeds EUR 14 230 (or an equivalent sum in foreign currency*). Remarks
  • You have issued loans or you have other claims the receivable sum of which exceeds EUR 14 230 (or an equivalent sum in foreign currency*).
  • You are the actual beneficiary of capital shares or financial instruments owned by or under management of another individual the total purchase value of which exceed EUR 14 230 (or an equivalent sum in foreign currency*).
  • You possess financial instruments in Latvia the total purchase value of which exceed EUR 14 230 (or an equivalent sum in foreign currency*) or You possess financial instruments abroad regardless of their value. Remarks
  • You possess capital shares in Latvia the purchase value of which exceed EUR 14 230 (or an equivalent sum in foreign currency*) or You possess capital shares abroad regardless of their value. Remarks

Property

  • You possess real estate or parts of real estate in Latvia property rights to which have not been consolidated in accordance with the procedure set forth in the legislation and the total purchase value of which exceed EUR 14 230 (or an equivalent sum in foreign currency*.) Remarks
  • You possess or co-possess real estate or parts of real estate abroad (including real estate or parts or real estate property rights to which have not been consolidated in accordance with the procedure set forth in the legislation of the corresponding country).
  • You possess or co-possess means of transport (motor or water vehicle) or aircraft abroad.
  • You possess other property (an object or set of objects) in Latvia or abroad the sum of which, according to your opinion, exceeds EUR 14 230 (or an equivalent sum in foreign currency*), for example, pieces of art, jewellery, etc.

Requisites

AS „Citadele banka”, registration No. LV40103303559, domicile – 2A Republikas laukums, Riga LV-1010, Latvia.

SIA "Citadele līzings un faktorings", registration No. LV50003760921, domicile – 2A Republikas laukums, Riga LV-1010, Latvia.

AS "Citadele atklātais pensiju fonds", registration No. LV40003397312, domicile – 2A Republikas laukums, Riga LV-1010, Latvia.

AAS „Citadele Life”, registration No. LV40003786859, domicile – 2A Republikas laukums, Riga LV-1010, Latvia.

 


* According to the exchange rate of the Bank of Latvia as of 31 December 2011).