About the service

According to the Commercial Law of Latvia, the administration of the bearer (uzrādītāja) shares of the companies, including those listed on the stock exchange, is strictly regulated. On the other hand, joint stock companies with registered (vārda) shares can freely choose how the register of shareholders will be administrated. If the company’s shareholder register is maintained by the management board, it creates several risks that can be reduced by entrusting the maintenance of the register to Nasdaq CSD.

If company registers its shares at Nasdaq CSD, it frees itself from the need to carry out maintenance procedures related to shareholders list and provides its owners with an independent and safe accounting of shares.

At the shareholder’s request, it is possible to pledge the shares in favor of a third party and guarantee their inviolability. The shares can be used as a collateral in a bank to borrow money. If the shareholder register is maintained by a neutral and professional market participant, such as Nasdaq CSD, it gives the bank a greater sense of security and reliability.

Nasdaq CSD offers two registration options:

  • With verification of justification documents (a contract or a statement signed by the parties that one party bought and the other party sold the shares) – both parties involved in the transaction must be present in the office of Nasdaq CSD, present valid identity documents (passport or ID card), a justification document, as well as a power of attorney approved by the notary, if applicable. If required by the buyer, Nasdaq CSD prepares and issues a statement on the transaction.
  • With verification of justification documents, but without identification of persons – shareholders turn to the company that verifies their identity. The company sends to Nasdaq CSD supporting documents of the transaction and confirmation that the persons are identified and that their signatures on the contracts are original.

 

Documents to be submitted to Nasdaq CSD:

  • application for share registration
  • a copy of the registration certificate or an equivalent document
  • a copy of the articles of association or an equivalent document
  • an agreement on maintenance of the shareholders’ register signed by the company
  • sample signatures of persons authorized to work with Nasdaq CSD
  • transfer-acceptance act of the shareholders’ register

An application and additional documents can be submitted to Nasdaq CSD

By sending through post

Valnu street 1, LV-1050, Riga, Latvia

By sending to email

csd.latvia@nasdaq.com, if they are signed with a safe electronic signature

In-person at the office of Nasdaq CSD

Valnu street 1, LV-1050, Riga, Latvia

Reach to our team of expert advisors

+371 67 212 431
Valnu street 1, LV–1050, Riga, Latvia

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