Board Chairperson Ilona Gulchak Spoke at CIS Wealth Conference

News - February 20, 2014

CIS Wealth conference was held from 18 to 19 February 2014 in Saint Petersburg (Russia) and was dedicated to wealth management and tax planning in international businesses. As a conference speaker, the Board Chairperson Ilona Gulchak told the attendees about the advantages of Latvia’s economy and benefits of the legislative environment offered to foreign investors.

„Being a small open economy (SOE), Latvia can offer a lot of advantages. We’ve succeeded in tiding over the financial crisis, and we’re witnessing the sustainable GDP growth rate. The country’s legal framework is well-shaped. Also, the advantages include a stable political system, a well-developed infrastructure, financial assistance (funding) provided by the EU Structural Funds, and a vast array of opportunities for entrepreneurship in the EU. Far from claiming to provide a universal solution to all problems, we can offer foreign investors sufficiently attractive opportunities and advantages. Latvia’s banking and financial services are competitive and therefore qualify for being exported. Latvia’s banking sector is well- developed, well-capitalised and stringently supervised. The sector employs professionals who offer high-quality and fast service and competitive prices. That is why we’re placed in a more advantageous position as compared to traditional financial hubs in Western Europe. Just those features make Latvia interesting both for western and eastern investors and may prove conducive to transforming Latvia into a financial hub”, emphasized Ilona Gulchak in her speech.

The two-day conference brought together 400 participants from 30 world countries. Presentations and discussions focused on world-wide tendencies in wealth management and tax planning were arranged during the conference.

Under the banner of Baltic International Bank, we stand proudly as one of Latvia’s most experienced providers of private banking services to high net worth individuals and corporates. Bank-offered advantages include a bespoke approach, stable partnership and top-level services targeted specifically towards preserving and growing customers’ wealth. Headquartered in Riga, Bank operates its overseas representative offices in London, Moscow and Kyiv. 

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