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. Set up of a company in Estonia.
  2. Receipt of company B card: Company is registered in the Commercial Register.
  3. 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.
  4. 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.
  5. The board member shall receive the bank decision.
  6. With said decision on hand, the board member finalizes the opening of an account in one or multiple banks.
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