Opening corporate bank account in Estonia
Opening account with payment service provider
IBAN for SEPA (Single Euro Payment Area) payments
As a rule we can provide your company with an IBAN account with a payment service provider within few days. Your physical presence is not needed to open and access that account. For SEPA payments it works as a usual bank account. For SWIFT payments you need to use payment service provider's name as receiver or payer.
There are also available payment cards.
Opening account with bank
From December 2016 - due to KYC (Know Your Client) demands for financial institutions - local Estonian banks almost stopped opening bank accounts for companies in case the company does not operate in Estonia at all and has no Estonian resident beneficiary owners.
In case your company will operate at least in some part in Estonia (means it has either some clients, vendors or employees in Estonia) then opening a bank account in our local bank has so far usually been successful. In some cases having just an Estonian board member or procura holder might help in opening an account in Estonian banks.
In case your business has no connections to Estonia we can assist you to open a bank account in some other bank outside of Estonia. So far all the clients who did corresponding to KYC demands got an account opened and are satisfied.
Opening bank account takes usually few weeks and requires client's good co-operation.
As a rule we provide account opening assistance only for these clients who use our company formations services as well.
Read also: How to start company in Estonia