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.

Bank account opening in Estonia

Open a Bank Account in Estonia

Open a Bank Account in Estonia

It’s essential to emphasize this connection in the present, at the time of approaching the bank, rather than indicating future intentions. This isn’t merely about securing a virtual office and a legal address. Instead, it underscores the importance of being fully economically and physically present in the country.

Experience indicates that Estonian banks meticulously evaluate any company that includes foreign residents in its structure. The determination to open an account for a non-resident in Estonia is reached following a thorough analysis of the provided information.

The process involves the following stages:

  1. Selecting a bank in Estonia
  2. Document preparation
  3. Submitting the application
  4. Undergoing verification
  5. Obtaining access and account details

Why is it advisable to establish an account with an Estonian bank?

Opening an account in an Estonian bank offers several advantages:

  • Relatively low service fees.
  • The option to open multi-currency accounts.
  • Protection of clients’ assets through the European Deposit Guarantee Fund.

With an account in an Estonian bank, business management can be conducted remotely, utilizing Internet banking. Remote banking provides numerous benefits for the client:

  • Account management and access to financial services are available 24/7 from any location worldwide.
  • Facilitation of the registration of loans, deposits, and bank cards.
  • A wide array of banking products and services, including money transfers, payments, information support, and receipt of account statements.

 

What documentation is necessary for initiating an account with an Estonian bank?

While many banks are open to collaborating with business clients from various countries, the process of opening an account in an Estonian bank for a non-resident can be rather challenging. Business individuals may be requested to provide:

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

The documents mentioned constitute the minimum set required for a businessman to prepare. However, in most instances, banks may request additional documentation from non-residents. It’s important for entrepreneurs to be aware that if a bank chooses to reject the account opening application, the initial commission paid for the application review will not be refunded.

If you intend to establish an account in Estonia, it’s crucial to be aware of certain intricacies, particularly those related to the procedures for non-residents. The criteria and documentation sought by Estonian banks are generally similar today.

However, the level of receptiveness and willingness to collaborate may fluctuate based on the client’s country of residence. Each bank defines its own policy for opening an account in Estonia for a non-resident. This is especially true if the client is a non-resident, meaning that although the company is Estonian, the founders and board members seeking to open an account are not residents of Estonia. In such cases, the primary requirement of banks is that the company’s activities must have a tangible connection with Estonia.

To minimize the likelihood of rejection, we suggest entrusting the task of opening an account with an Estonian bank to our specialists from Regulated United Europe. We will handle the preparation and processing of documents and carry out all necessary procedures for the account opening.

Business bank account in Estonia

Opening a business account in Estonia is an important step for entrepreneurs seeking to take advantage of the business environment in this Baltic country. Estonia is renowned for its innovative approach to entrepreneurship, digitalisation and 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

  1. Digital Identification: Estonia provides a unique digital identification option, which makes the account opening process more convenient and efficient.
  2. Electronic Services: Business accounts in Estonian banks usually offer a wide range of electronic services, including online banking, mobile applications and electronic payments.
  3. Ease of Business Registration: Estonia is renowned for the ease and efficiency of the business registration process, which makes it easy to start a business.
  4. Favourable Tax Legislation: Estonia offers attractive tax conditions for business, including the e-residency system, which allows foreign entrepreneurs to do business from anywhere in the world.

How to Open a Business Account in Estonia

  1. Choosing a Bank: The first step is to choose the right bank for opening a business account. Research the offers of various banks, evaluating service conditions, fees, digital identification capabilities and other parameters.
  2. Preparation of Documents: Prepare the necessary documents to open an account, including identification (passport or other document), company registration documents, and additional documents that the chosen bank may require.
  3. Visit the Bank: Schedule a visit to the selected bank to open an account. Provide all necessary documents and fill in the account opening form.
  4. Application Review: The Bank will review your application for an account and verify the documents provided. This process may take several working days.
  5. Account Activation: Once your application is approved, your business account will be activated and you will have access to banking services.

Conclusion

Opening a business account in Estonia is an important step for successfully doing business in this innovative and digitised country. With its attractive business climate, extensive digital identity opportunities and favourable tax laws, Estonia attracts entrepreneurs from all over the world. When choosing a bank, it is worth paying attention to its reputation, service conditions and level of digitalisation to ensure maximum comfort and efficiency in managing business finances.

 Personal bank account in Estonia

Opening a personal bank account in Estonia is an important step towards effective management of personal finances in this digital and innovative Baltic country. Estonia offers modern banking services, a high level of security and access to innovative technologies, making the process of opening an account convenient and simple. In this article, we will look at the key aspects and procedures for opening a personal bank account in Estonia.

Advantages of Opening a Personal Bank Account in Estonia

  1. Digital Identification: Estonia provides unique digital identification capabilities, which facilitates the account opening process and enhances the security of online banking.
  2. Convenience and Accessibility: Many Estonian banks offer modern online platforms and mobile applications that provide convenience and accessibility to manage your account anytime and from anywhere in the world.
  3. Attractive Terms and Conditions: Personal bank accounts in Estonia usually offer attractive terms and conditions, including minimal fees, a high level of service and access to a wide range of banking services.
  4. Security and Reliability: Estonian banks are known for their high level of security and reliability, which ensures the protection of customers’ funds and the confidentiality of their data.

How to Open a Personal Bank Account in Estonia

  1. Choosing a Bank: The first step is to choose the right bank to open a personal account. Research the offers of different banks, evaluating service conditions, fees, availability of online banking and other parameters.
  2. Preparation of Documents: Prepare the necessary documents to open an account, including identification (passport or other document), proof of residential address and other documents that your chosen bank may require.
  3. Visit the Bank or Online Application: Schedule a visit to the bank or fill out an online application for opening an account through the bank’s official website. Provide all required documents and complete the account opening application form.
  4. Application Review: The Bank will review your application to open an account and verify the documents provided. This process may take several working days.
  5. Account Activation: Once your application is approved, your personal bank account will be activated and you will have access to banking services.

Conclusion

Opening a personal bank account in Estonia is an important step towards financial stability and convenience in managing personal finances. With digital infrastructure, convenient service conditions and a high level of security, banks in Estonia provide customers with a wide range of modern banking services. When choosing a bank, it is worth paying attention to its reputation, technological capabilities and service conditions to ensure that your needs and requirements are maximised.

Assistance in opening a corporate bank account 2,000 EUR
Sheyla

“I would be glad to support you in the process of opening a bank account in Estonia. Feel free to reach out to me!”

Sheyla Shamilli

MANAGing associate

email2[email protected]

RUE customer support team

Milana
Milana

“Hi, if you are looking to start your project, or you still have some concerns, you can definitely reach out to me for comprehensive assistance. Contact me and let’s start your business venture.”

Sheyla

“Hello, I’m Sheyla, ready to help with your business ventures in Europe and beyond. Whether in international markets or exploring opportunities abroad, I offer guidance and support. Feel free to contact me!”

Sheyla
Diana
Diana

“Hello, my name is Diana and I specialise in assisting clients in many questions. Contact me and I will be able to provide you efficient support in your request.”

Polina

“Hello, my name is Polina. I will be happy to provide you with the necessary information to launch your project in the chosen jurisdiction – contact me for more information!”

Polina

CONTACT US

At the moment, the main services of our company are legal and compliance solutions for FinTech projects. Our offices are located in Vilnius, Prague, and Warsaw. The legal team can assist with legal analysis, project structuring, and legal regulation.

Company in Lithuania UAB

Registration number: 304377400
Anno: 30.08.2016
Phone: +370 661 75988
Email: [email protected]
Address: Lvovo g. 25 – 702, 7th floor, Vilnius,
09320, Lithuania

Company in Poland Sp. z o.o

Registration number: 38421992700000
Anno: 28.08.2019
Phone: +48 50 633 5087
Email: [email protected]
Address: Twarda 18, 15th floor, Warsaw, 00-824, Poland

Regulated United Europe OÜ

Registration number: 14153440–
Anno: 16.11.2016
Phone: +372 56 966 260
Email:  [email protected]
Address: Laeva 2, Tallinn, 10111, Estonia

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Registration number: 08620563
Anno: 21.10.2019
Phone: +420 775 524 175
Email:  [email protected]
Address: Na Perštýně 342/1, Staré Město, 110 00 Prague

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