Bank account opening assistance in Estonia

Opening a bank account in Estonia holds advantages due to Estonia’s European Union membership and absence from any global blacklists.

Every bank in Estonia offers clients a thorough service, secure Internet banking, and the option for multi-currency accounts.

The prominent banks in the country include Swedbank AS, AS LHV Pank, AS SEB Pank, Luminor Bank AS, Tallinna Äripanga AS, Coop Pank AS, AS Citadele banka Eesti.

This relation is crucial to underline now, when addressing the bank, not by declaring the intention for the future. This isn’t about obtaining a virtual office and a legal address; instead, it’s about proving complete economic and physical presence in the country.

The experience shows that Estonian banks very attentively check any company that would have at least one foreign resident in its structure. The decision on opening of the account for a non-resident in Estonia is taken after a detailed consideration of the submitted information.

The steps are as follows:

1. Choosing an Estonian bank
2. Preparation of documents
3. Application submission
4. Verification process
5. Getting access and details about the account

Why is it recommended to open an account in an Estonian bank?

Opening a bank account with an Estonian bank has several advantages to its good name:

• Relatively low account maintenance fees.
• Wide possibilities to open multi-currency accounts.
• The protection of clients’ assets under the European Deposit Guarantee Fund.

Having opened an account in an Estonian bank, management of the enterprise can be done remotely by using Internet banking.

Remote banking has many advantages for the client:

• Account management and access to financial services are possible 24/7 from any place in the world.
• Registration of loans, deposits, and bank cards is facilitated.
• A great variety of banking products and services, such as money transfer, payment, information support, and receipt of account statements.

What documents does one need to open an account with an Estonian bank?

Although a lot of banks are open to cooperate with business clients from different countries, the opening of an account in the Estonian bank for a non-resident may not be so easy. Business people can be asked to provide:

• Copies of identity documents of the director, the shareholder, and the beneficiary – a passport or identity card;
• An extract from the register or certificate confirming the registration of the company;
• Minutes from the founders’ meeting.
• The company’s charter.

These documents are absolutely the minimum which must be prepared by the businessman as minimum. However, in most cases, banks can demand more from non-resident. It is necessary for entrepreneurs to know that in case of refusal of a bank to open an account, the advance commission on account opening request review will not be refunded.

If you plan to open an account in Estonia, you should be prepared for some complications in any case connected with the application procedure for non-residents. Nowadays, the requirements and documents requested are almost alike for Estonian banks.

Still, the degree of openness and readiness to cooperate will depend on the country of residence of the client. The decision on opening an account in Estonia for a non-resident is made by each bank according to its own rules. This is even more so if the client is a non-resident—that is, when the company is Estonian, but the founders and board members who wish to open an account are not residents of Estonia. The banks, in this case, basically require that activities of the company must have a direct link with Estonia.

To minimize such a risk, we recommend you to open an Estonian bank account with assistance of our experts from Regulated United Europe. We will draft and proceed documents, undertake all actions necessary for account opening.

Business Bank Account in Estonia

Opening a business account in Estonia is a key stage for entrepreneurs willing to take advantage of the business climate of this Baltic country. Estonia is famous for its inventive way of treating entrepreneurship, digitalisation, and a business-friendly climate. In this article we will look at the key aspects and procedures for opening a business account in Estonia.

Advantages of Opening a Business Account in Estonia

• Digital Identification: In addition, Estonia offers a unique digital identification option, which facilitates smoother account opening processes. Business accounts in most Estonian banks are usually accompanied by a variety of electronic services, including online banking, mobile applications, and electronic payments.
• Ease of Business Registration: The Baltic state has gained a reputation for ease and efficiency in the business registration process; thus, it will be pretty easy to establish a business.
• Favorable Tax Legislation: Estonia provides favorable tax conditions for business. It includes the e-residency system, which enables foreign entrepreneurs to do business from anywhere in the world. The attractive options include:

How to Open a Business Account in Estonia

Opening a business account becomes a great step for doing business with ease in this innovative and digitized country. Indeed, it attracts entrepreneurs from all over the world because of its friendly business climate, great digital identity possibilities, and tax laws. While choosing a bank, reputation, conditions of service, and the level of digitalization are worth paying attention to in order for maximum comfort and efficiency to be achieved while managing business finances.

Personal Bank Account in Estonia

Opening a personal bank account in Estonia is considered the most important step towards effective management of personal finance in this innovative and digitized Baltic country. Due to the fully computerized nature of Estonia, banks are able to offer extensive security and access to innovative technologies that allow ease in opening an account. This article considers the most important aspects and steps related to the opening of a personal bank account in Estonia.

Advantages of Opening a Personal Bank Account in Estonia

• Digital Identification: Estonian provides unique digital identification capabilities, making the account opening process much easier and online banking safer.
• Convenience and Accessibility: Many Estonian banks have modern online platforms and mobile applications, enabling their customers with the convenience to access and manage their accounts at any time from any place in the world.
• Attractive Terms and Conditions: Normally, personal bank accounts in Estonia include quite attractive terms and conditions, including minimal fees, a high level of service, and access to a wide range of banking services.
• Security and Reliability: Estonian banks also stand for high security and reliability as a guarantee of protection of customers’ funds and confidentiality of their data.

Steps to Open a Personal Bank Account

Opening a personal bank account in Estonia means a great step towards financial stability and convenience in managing one’s personal finance. Estonian banks operating digital infrastructure, comfortable conditions of service, and a high level of security offer a wide range of modern banking services for customers. While choosing a bank, one should pay attention to its reputation, technological capabilities, and conditions of service so that your needs and requirements will be maximized.