Funds in the account - ways of legalization

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nata_lv
Posts: 8
Joined: Mon May 08, 2017 10:22 pm

Funds in the account - ways of legalization

Post by nata_lv » Tue Aug 22, 2017 10:55 am

I sold my apartment in Latvia (EU). I would like to transfer a part of amount to my Nordea account. So, as I understand, I have to provide some docs about source of money. In what form? How much money can I transfer without any docs and explanation? What about taxes?
Thank a lot for your answers and info.



Funds in the account - ways of legalization

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betelgeuse
Posts: 2621
Joined: Thu Aug 29, 2013 1:24 am

Re: Funds in the account - ways of legalization

Post by betelgeuse » Tue Aug 22, 2017 1:00 pm

nata_lv wrote:I sold my apartment in Latvia (EU). I would like to transfer a part of amount to my Nordea account. So, as I understand, I have to provide some docs about source of money. In what form? How much money can I transfer without any docs and explanation? What about taxes?
The money laundering rules that they use are not public. They are entitled to ask information even about minuscule sums. You don't proactively need to provide anything. They will ask you if needed. You will declare the sale to both Latvia and Finland and it will be taxed according to the tax treaty and the laws of both countries.

https://www.vero.fi/en/individuals/tax- ... l_propert/


Rosamunda
Posts: 10609
Joined: Fri Jan 02, 2004 12:07 am

Re: Funds in the account - ways of legalization

Post by Rosamunda » Tue Aug 22, 2017 1:58 pm

When we sold our house in France, it took Nordea about a year before they contacted us for some documentation. In the end, I think we just had a conversation over the phone - I don't remember actually having to provide them with paperwork though it is possible that our French bank did that directly and they just needed verbal corroboration from us.

You could discuss this with Nordea though, ie tell them what's coming.


nata_lv
Posts: 8
Joined: Mon May 08, 2017 10:22 pm

Re: Funds in the account - ways of legalization

Post by nata_lv » Wed Aug 23, 2017 8:05 pm

Thanks a lot for your answers!


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