Every company we create, has a start-up account, where we pay in the share capital (min 2500 EUR). Once the company is registered, we close the start-up account, as banks do not allow to activate it without strong connections to Estonia.
In case you do not have a direct connection to Estonia (clients, vendors, employees, etc.), it is likely that local banks will not open an account for your company. However, as Estonian companies are allowed to have foreign bank accounts, we suggest to choose either a Payment Service Provider (PSP) or a bank outside of Estonia for your business.
Often the easiest way is to use your local bank, which is already familiar with you, as the process might then be relatively simple, quick and low-cost for you.