To open a bank account for a company, the bank requires various explanations and copies of documents as if the entrepreneur has been running a business for several years. This is discussed in the TV24 program "STOPkadri" by Armands Puče. "It could be laughed at, but there is no laughter!" — this is how the program host describes the situation.
Puče talks about a viewer of TV24 who tried to open an account at a bank. He registered an SIA (limited liability company) and wants to start entrepreneurial activity. However, the bank asked the future entrepreneur to provide a clear and detailed description of the planned business activities, including the service delivery model — information about premises, infrastructure, equipment, pricing policy and payment principles, logistics, and technical organization of work. The bank also required him to specify the expected number of employees, describe the planned incoming and outgoing financial flows, and provide copies of contracts with key partners.
Puče ironically remarks: “The bank account is not yet opened, and we already have employees! How are they supposed to be paid? Through a non-existent account?” He particularly emphasizes the requirement to present copies of contracts with key partners. “What contracts can be concluded with partners if you do not have a bank account? And who will sign a cooperation agreement with you if the entrepreneur does not yet have a bank account?” says Puče.
