Bank Account Opening

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Bank Account Opening ServicesIndividual & Corporate Bank Account Solutions For Everyday Needs

Professional Bank Account Opening Services for Corporate & Individual Clients.

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Bank Account OpeningOpen Bank Account For Your Company or Individuals Needs

VALCORP offers bank account opening services in Estonia for companies and individuals. Bank account in Estonia comes with International Bank Account Number (IBAN) that allows to send money to other countries in the Single Euro Payment Area for free SEPA). This applies to every country in Europe, including those that are not members of the European Union (EU).

Open a Bank Account in Estonia

Estonian banks provide a wide range of financial services, from basic banking to sophisticated wealth management, leasing and factoring. The majority of banks operating in Estonia are subsidiaries and affiliates of Scandinavian banking groups, providing quality services and stable banking environment.

If the company has partners in Estonia, employees in Estonia, or it carries out activities in Estonia, it is possible to apply for a bank account in Estonia after registering a company in Estonia. Compared to some EU countries, there are no particular restrictions for companies to open bank account in Estonia, provided that they fulfil the requirements.

What Are the Requirements to open the bank account in Estonia?

To open an account with an Estonian national bank, your company must begin operations in Estonia, in whole or in part, to present the evidence that the organization has activities in Estonia. If the company’s proposed activity is unrelated to Estonia, it may be hard to open a bank account in Estonia.

In addition to the demonstration of present business activity in Estonia, banks may need a detailed description of your company’s future plans in Estonia. Due to the KYC and AML policy in Estonian banks, in order to apply for a corporate account in an Estonian bank, a personal visit to their representative office in Estonia may be required.

To prove the connection the company may:

Have Estonian partners/clients – and/or;
Have employees being residents of Estonia (also with EU residence permit) –and/or
Pay taxes in Estonia;
Have a physical office/warehouse in Estonia.

What are the documents to open a bank account in Estonia?

In order to open a bank account in Estonia, the following documents will be required:

Proof of identity;
Proof of residency in Estonia (e-Residency is not applicable);
Proof of connection to the country (e.g. title or deed to property, articles of incorporation or organization, Estonian ID card with residence permit).

Banks may request additional documentation from time-to-time. The decision is usually drafted in 1 week, but can be extended to 1-2 months.

How can VALCORP help?

Professional Bank Account Opening Assistance

We are ready to offer payment solutions that suit your company needs in Estonia and provide you with the range of options available when opening a bank account as a non-resident of Estonia. It is important to note that due to the policies of the banks we cannot guarantee the bank account opening in Estonia national banks. However, we also offer to open corporate bank accounts in EU-operating FinTechs that may be a great solution for EU bank account.