How should the non-resident board member open a bank account for their Estonian company?

Opening of a non-resident company bank account has the following stages:

1. Company establishment in Estonia.
2. Obtaining the company’s B-card: the company is registered in the Commercial Register.
3. The company’s board member visits one or more banks and completes a questionnaire about the company’s planned activities. The questionnaire is mandatory for all entrepreneurs in Estonia, both residents and non-residents.
4. Each bank conducts a review of non-resident board members. The bank’s decision largely depends on your company’s plans in Estonia. The review process may take up to 30 business days.
5. The bank provides its decision.
6. The company’s board member returns to the bank (or banks) to finalize the account opening process.
7. Don’t worry if you are denied by a local bank. An alternative could be an account in a payment system (e.g., Revolut, Wise, Paysera) or a bank in any European Union country (for example, in Poland or the country of residence of a non-resident if they are an EU citizen).