Opening a bank account in Estonia
Estonia is an attractive country for permanent residence and business relocation. However, in order to live and work in this country, you will need to open a bank account. Individuals need it to obtain residence permits or citizenship, to buy real estate or other property, etc. Legal entities should open a bank account in Estonia in order to make payments and receive funds from Eurozone counterparties without hindrance. Lawtter Solutions offers its clients to register a bank account quickly and profitably.
1 000 EUR*
With personal visit
Opening an account
Estonia’s financial regulator is the Central Bank (Eesti Pank). It has issued banking licenses to more than 10 banks, including local institutions and branches of foreign banks.
Estonia is a very attractive country in terms of opening bank accounts. The procedure here is quite simple. Can a US citizen open a bank account in Estonia? Yes, it is possible to open a bank account in Estonia for non-residents. You can submit documents online. There is a possibility of being interviewed from abroad. In Estonia, it is allowed to verify clients by video call.
Estonia offers a wide range of opportunities for clients. Individuals can open current, settlement, and savings accounts. Foreigners can also get a bank card and make a deposit. Legal entities can use a number of services, such as letters of credit, multi-currency accounts, leasing of property, factoring services, etc. Estonia allows the opening of offshore accounts for companies operating abroad.
Advantages of opening a bank account in Estonia
Many individuals and legal entities wish to open an account in Estonia because it allows them to get important advantages. The main ones are as follows:
Wide range of services
Multi-currency accounts are available
Low balance requirements
How to open a bank account in Estonia
Opening an account in Estonia will require a package of documents.
To register an account for individuals, the following documents must be submitted:
- Proof of residential address;
- Taxpayer Identification Number;
- Confirmation of origin of funds;
- Resume (CV).
As for legal entities, the following documents will be required to open a bank account in Estonia:
- Constituent documents of the company.
- Director’s and shareholders’ IDs.
- Confirmation of residential address of director and shareholders.
- ID card, proof of address, and a power of attorney issued by the director if the documents are submitted by the account manager.
- Confirmation of origin of funds.
- Contracts with partners.
This list of documents is indicative. Estonian banks may require additional documentation.
Stages of opening an account
Services by Lawtter Solutions
Lawtter Solutions offers services for opening an account in an Estonian bank. We will open an account with any of the country’s financial institutions, such as:
- Swedbank AS;
- SEB Pank;
- Tallinna Äripank;
- Sampo Pank;
- Marfin Pank.
Lawtter Solutions opens accounts in Estonia according to a procedure developed over years of practice. There are 5 stages:
Preparing a list of required documents
Filing the application
Obtaining account details and access
Lawtter Solutions provides turnkey account openings in Estonia with minimal client involvement.