Estonia is a stable democracy with an economy that is rebounding after facing sharp decline in 2008 and 2009. Tourist facilities in the capital, Tallinn, are comparable to those found in western European cities, but some amenities may be lacking in rural areas. In Tallinn, as well as in other locations frequented by tourists, many people can communicate in English.
We work with 1 different banks in Estonia, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.
The Republic of Estonia, is a Baltic Republic located in the north of Europe. Being independent of the Soviet Union in 1991, since 2004 it has been part of the European Union (EU) and NATO. It is bordered to the south by Latvia, to the east by Russia, to the north by the Gulf of Finland and to the west by the Baltic Sea.
The country is inhabited by approximately 1,287,000 people. Its capital and most populated city is Tallin. Its official language is the Estonian, although about a third of its population is Russian-speaking. In 2011, the Euro (EUR) replaced the Estonian kroon (EEK) as its official legal tender currency. The country also stands out for its responsible public finances, being the least indebted state (9.6% of GDP) of the OECD.
Estonia is a world leader in digital governance and is one of the most digital advanced countries. All Estonians receive a digital ID card that gives them access to around 4,000 services online, from managing their finances, registering companies, signing digital contracts, paying taxes or asking for prescriptions, even voting.
They are also pioneers in the conception and implementation of the E-Residency, a transnational digital identity card for non-residents issued and backed by the Estonian Government.
Its developed telecommunication and digital infrastructures offer a superior environment for business operation. Being one of the world’s top countries in tech areas such as fintech, cyber security centers, security software development, systems integration and defense software, mobile security and wireless security. Estonia has an innovative talent pool, with a strong international reputation for know-how and innovation, and a vibrant and growing ecosystem for tech startups.
Estonia is also one of the most business liberal countries. Non residents can register a company online in less than 1 hour and manage it remotely. It has also a competitive tax system, where reinvested profits are tax free.
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).