The Federal Republic of Germany is the largest economy and the main export-power among European Union member states. Germany is also one of the few nations in the world that has obtained the highest rating, “AAA”, for its sovereign debt from the three major credit rating agencies.

Germany

Germany does not levy withholding tax on non-residents, i.e. you are automatically exempt from withholding tax and do not have to do anything else.

Aareal Bank AG, headquartered in Wiesbaden, is a leading international real estate specialist. The bank's origins date back to 1923. It offers financing, software products and digital solutions for the real estate sector and related industries. Aareal Bank operates on three continents - Europe, North America and Asia/Pacific - and supports real estate financing in more than 20 countries.

Aareal Bank AG

Deposits including accrued interest income are legally protected up to an amount of EUR 100,000 per customer and per bank by the Entschädigungseinrichtung deutscher Banken GmbH. Within the European Union, the minimum requirements are harmonized in all member states by Directives 94/19/EC, 2009/14/EC and 2014/49/EU.   It should be noted that this protection relates to a customer's entire deposits with a bank. This is relevant if not only the deposits of a customer brokered via this platform were invested with a specific bank, but also other deposits of this customer were invested with the respective bank.

Compensation Scheme of German Banks GmbH

Latvia, located in the centre of the Baltic States, is an independent parliamentary democracy since 1991, a member of the European Union (EU) since 2004 and part of the euro zone since 2014. The Latvian economy is characterised by a high degree of business-friendliness, which is also reflected in a large number of successful start-ups, especially in the capital Riga. Latvia's economic growth is stable and the national debt is very low by European standards at 37.9 % of GDP (as of 2016). Culturally, Latvia is characterised by strong Northern European influences, Hanseatic architecture and its famous music folklore.

Latvia

In Latvia, a withholding tax of 25.5% will be levied on interest payments from the 1st of January 2025. You can reduce this to 10% by providing the relevant documentation to Raisin Bank who will forward it to our partner bank on your behalf. Please check the product information sheet for further information.

In 2001, four Latvian entrepreneurs founded BluOr Bank AS (hereinafter „BluOr Bank“) in Riga - initially as a bank only for companies engaged in international trade or acting as a holding company - gradually adding products for private customers.

Today, BluOr Bank is the ninth largest bank in the country in terms of assets under management and has built its reputation as a reliable partner and financially stable organisation over the 21 years of the bank's existence. The bank is highly liquid every year and has remained profitable during Latvia's economic slowdown

BluOr Bank AS

The statutory Deposit Guarantee Scheme in Latvia guarantees deposit amounts up to a maximum of 100,000 Euro per bank and customer. Further information about the Deposit Guarantee Scheme can be found at http://www.fktk.lv/en. Within the European Union, the minimum amount guaranteed by Deposit Guarantee Schemes of each member state has been harmonized by EU directives 94/19/EG, 2009/14/EG and 2014/49/EU.

The Deposit Guarantee Fund of Latvia

Norway, a thriving Nordic economy, stands out for its robust oil and gas sector, advanced technology, and sustainable practices. Politically stable, it prioritizes social welfare and actively participates in global environmental initiatives. Socially, Norway values egalitarianism, emphasizing education and quality of life. With a strong focus on renewable energy, the nation fosters a conducive environment for green investments and technological innovation. Its transparent governance, coupled with prudent fiscal policies, positions Norway as an attractive hub for responsible investment.

Norway

Today's Morrow Bank is a modern and digital niche bank based in Lysaker, Norway. It was founded in 2014 under the name Komplett Bank and was listed on the main index of the Oslo Stock Exchange in 2017. 
 
Operational efficiency and low costs are the foundations for the bank and are enabled by centralized operations, modern systems and a digital setup. Morrow Bank's offerings include consumer loans, credit cards and purchase financing for consumers in Norway, Sweden and Finland. In addition, Morrow Bank systematically tackles financial crime, promotes equality and diversity, and helps its customers take responsibility for their own financial situation.

Morrow Bank ASA

Deposits with Morrow Bank, including interest, are legally protected by the Norweigan Deposit Guarantee Fund up to an amount of EUR 100,000 for customers outside Norway. This amount also includes possible deposits and/or savings accounts held outside Raisin Bank. This protection covers the deposits of all natural persons, not only Norweigan citizens. In the event of an intervention by the Norweigan DGS, the payment shall be made in Euro to your Raisin Bank Account.  In this case, the exchange rate applied will be the one valid at the time of the bank's administrative settlement process.  Within the European Union, the minimum requirements for these guarantee funds, for each member state, have been harmonised by EU Directive 2014/49/EU.

The Norwegian Banks' Guarantee Fund

Sweden is a member of the European Union since 1995, however it has its own currency, the Swedish Krona (SEK). Sweden is distinguished by its highly industrialised economy, based on cutting-edge technology in key sectors such as automotive, electronics and telecommunications. Its strong social welfare network, including a high quality public health and education system, reinforces its position as a society with high levels of equality and well-being. In addition, its focus on environmental sustainability and technological innovation has positioned the country as a leader in the transition to a green economy. Its policy of openness to international trade and its political and social stability continue to attract investment from around the world.

Sweden

Nordax Bank is a Swedish financial institution that specializes in consumer banking services across Northern Europe. Founded in 2003, Nordax primarily focuses on providing loans and savings products to cusotmers across Scandavia and Germany. The bank prioritises simplicity, efficiency, and customer-centric solutions in its operations. Nordax offers various loan products, including personal loans, refinancing options, and credit cards, tailored to meet the diverse needs of its clientele. With a commitment to responsible lending practices, Nordax prioritizes transparency and fair terms for borrowers. The bank's online platform facilitates easy access to financial services, allowing customers to manage their accounts conveniently. Nordax Bank's growth and reputation stem from its dedication to delivering reliable banking solutions while maintaining a strong emphasis on customer satisfaction and financial stability in the dynamic European market.

Nordax Bank AB publ

In accordance with EU Directive 2014/49/EU, deposits with this Bank, inclusive of accrued interest not yet credited, are guaranteed by the Swedish statutory deposit guarantee scheme up to (the equivalent in euros of) SEK 1,050,000 per account holder, per bank. This amount also includes possible deposits and/or savings accounts ordered outside Raisin Bank. This protection covers the deposits of all natural persons, not only Swedish citizens.   In the event of an intervention by the Swedish DGS, the payment shall be made in Euros to your Raisin Account, within 7 business days from the time the DGS comes into effect. In this case, the exchange rate applied will be the one valid at the time of the bank’s administrative settlement process and is thus subject to currency fluctuations.   The administrator and executor of the deposit guarantee scheme is Riksgälden. For more information please visit https://www.riksgalden.se/en/)

Swedish Deposit Protection Fund

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✓ Raisin Bank AG is a fully licensed German bank, supervised by the Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB).

✓ All partner banks on our platform are covered by European Deposit Guarantee Schemes, protecting your savings up to €100,000 per bank, per depositor. <a href="https://www.raisin.com/en-ie/deposit-guarantee/" target="_self">More about the Deposit Guarantee Scheme</a>.<a href="https://www.raisin.com/en-ie/deposit-guarantee/" target="_self"></a>

✓ Still have questions? We're here to help! Email <a href="mailto:contact@raisin.com" target="_self">contact@raisin.com</a><a href="mailto: service@raisin.ie" target="_self"></a> or send us a message through your Raisin Account. Alternatively, you can call us on +353 1 5461020 from 11:00 a.m. - 15:00 p.m., Monday to Friday. See <a href="https://contact.raisin.com/hc/en-gb/" target="_self">FAQs</a>.

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