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:
- Set up of a company in Estonia.
- Receipt of company B card: Company is registered in the Commercial Register.
- The board member shall complete a form about the planned business activities in one or multiple banks. The form must be completed by all Estonian entrepreneurs, residents and non-residents.
- Each bank conducts an audit against non-resident board members. The answer of the bank largely depends on the plans of your company in Estonia. The audit of the bank takes up to 10 business days.
- The board member shall receive the bank decision.
- With said decision on hand, the board member finalizes the opening of an account in one or multiple banks.
We provide the service of escorting our Estonian non-resident customers to the bank, give advice and help at every stage.