- →
-
Contact Form
-
The Guarantee Fund (Tagatisfond) lists eight credit institutions registered in Estonia and authorised by Finantsinspektsioon, the Financial Supervision and Resolution Authority: LHV Pank, SEB Pank, Swedbank, Luminor Bank, Coop Pank, Bigbank, Inbank and Holm Bank. It compensates each depositor for eligible deposits of up to 100,000 euros at any one of them, within seven working days, and counts an OÜ separately from its owner. Payment and e-money institutions such as Wise or Paysera are not members of the scheme.
E-Residency lets a non-resident found and run an OÜ online. Neither shareholders nor board members need to live in Estonia, although a board based abroad must appoint an Estonian contact person under the Commercial Code. The account is a separate decision: LHV states that the e-resident’s digital ID is not an identity document and that e-resident status alone is no basis for an account, and the programme’s knowledge base says banks and fintechs make their own risk assessments, in which it cannot intervene.
Banks want a connection with Estonia. LHV asks for a clear connection and a need for the account; Coop Pank counts staff or a place of business in Estonia, main partners there, a product for the Estonian market or property; SEB looks for resident owners, Estonian clients or contractual partners, or investments such as real estate.
The e-Residency programme’s provider comparison, updated on 21 April 2026, and the banks’ own pages give these routes:
| Provider | Type and IBAN | Connection with Estonia | How you are identified |
|---|---|---|---|
| LHV | Bank, Estonian IBAN | Required, with a stated need | Online application, then face to face at an LHV office |
| Coop Pank | Bank, Estonian IBAN | Required | At a branch for non-residents |
| Swedbank | Bank, Estonian IBAN | Business links with Estonia weighed | Appointment at the Arter branch in Tallinn |
| SEB | Bank, Estonian IBAN | Required | Video meeting only for Estonian residents |
| Wise | Payment institution, Belgian IBAN | Not required | Online |
| Paysera | E-money institution licensed in Lithuania, Lithuanian IBAN | Not required | Online |
The programme quotes processing times of 10 to 14 business days at LHV, 3 at Coop Pank, 0 to 2 at Wise and 0 to 10 at Paysera. Swedbank does not open accounts on the spot for companies with non-resident connections and decides within 10 working days once its enhanced due diligence is under way.
The banks’ published lists add up to this:
Banks also compare your answers with the beneficial owners in the e-Business Register, which closed to public searching on 10 July 2026 but stays open to banks doing customer due diligence.
LHV opens no accounts for companies registered offshore or with an offshore company among their owners, and has stopped onboarding companies whose beneficial owners are Russian or Belarusian citizens without a valid Estonian residence permit. First-time e-Residency applications from Russian and Belarusian citizens are no longer reviewed, even from holders of a residence permit elsewhere. Luminor has no appetite for customers with no link to real economic activity that are registered where no financial statements must be filed.
When a ready-made OÜ already banks, the account belongs to the OÜ and survives the share transfer; what restarts is the bank’s review of the incoming owners, board members and signatories, after which it may carry on, ask for more or end the relationship. Coop Pank treats an Estonian company not controlled by an Estonian resident as a non-resident, so a sale to a foreign buyer changes the OÜ’s category there.
We can register a new company through company formation in Estonia or hand over a ready-made Estonian shelf company, then assemble the bank file described above. Where we have a working contact at a bank that suits your profile we can introduce you, but opening the account remains the bank’s own decision. Our Estonia overview covers tax and the contact person rule, and shelf companies with bank accounts explains how pre-banked companies work.
At the banks, generally not. LHV identifies approved applicants face to face at an LHV office, Coop Pank sends non-residents to a branch, Swedbank directs owners from abroad to its Arter branch in Tallinn, and SEB’s video meeting is only for Estonian residents. Wise and Paysera, listed in the e-Residency programme’s comparison, need no visit, but they issue Belgian or Lithuanian IBANs rather than Estonian ones.
The company, yes: neither shareholders nor board members need to live in Estonia, though a board based abroad must appoint an Estonian contact person. The account depends on the provider. LHV and Coop Pank require a strong connection with Estonia, and the e-Residency programme’s comparison records Coop Pank as accepting only EU countries. Wise and Paysera, in the same comparison, need no Estonian connection.
Yes, at the eight credit institutions registered in Estonia. The Guarantee Fund compensates eligible deposits of individuals and businesses up to 100,000 euros per depositor in each credit institution, within seven working days, and treats a company separately from its owner. States, local authorities and financial-sector firms are excluded as depositors.
Only if it already holds one, and then the account stays with the company while the bank reviews you as its new owner. Expect the tests a new applicant faces: a connection with Estonia, a clean ownership chain and, at Coop Pank, non-resident status once a foreign buyer controls the OÜ.