Can I open a bank account with E-residency in Estonia?

E-Residency does not grant any rights to open a personal bank account in Estonia. Banks, in general, wish to see a strong connection to Estonia and are reluctant to open an account for non-residents. You will need to demonstrate your connection to Estonia.

Can I open bank account with E-residency?

Based on regulatory changes in 2017, opening a bank account is now possible online using an e‑ID or e-Residency card, a video interview recording, and facial recognition technology.

Can I open a bank account in Estonia online?

If you have an Estonian passport, ID card, or residence permit, you can open an account online or through your chosen bank’s app. You’ll be asked to verify your identity using Smart-ID, Mobile-ID, or an ID card reader. An easier, quicker, and cheaper option is to open an account with a mobile bank.

Can I open bank account in Estonia?

Yes, Estonia has a system that enables you to open a bank account without residency and as an e-resident, and you can start the process online. Generally speaking, it is often possible to open an account with only your passport – depending on the country of your origin and the bank you chose.

Is Estonian e-residency worth it?

However, e-Residency in Estonia is still a worthwhile option even if you are an EU citizen. The digital advances of Estonia’s business community make many business necessities much easier to complete online. This means you can freely move around the world without impacting on your business operations.

What can I do with Estonia E-residency?

As an e-Resident, you’ll be able to: Establish and run a company online. Conduct your banking online e.g. make electronic bank transfers. Have access to international payment service providers. Digitally sign documents (annual reports, contracts) within the company as well as with external partners.

Can non resident open bank account in Estonia?

Can I open a bank account as a non-resident of Estonia? Yes. While many European Union countries bar non-EU citizens from opening bank accounts within the union, Estonia is one of a handful of European countries which allow foreigners to open bank accounts without citizenship.

How can a foreigner open a bank account in Estonia?

You have an Estonian passport, ID card or residence permit. If you have a passport, ID card or residence permit issued by the Estonian state, you can open a bank account conveniently without leaving home, either with the app or in the internet bank.

How long is Estonia e-residency valid?

5 years
E-resident’s digital IDs issued from 1 May 2018 are valid for 5 years. Documents issued before that date are valid for 3 years.

How much does e-residency cost?

Prices vary from €100 to €120. There is also a state fee for registering your company online. This is currently set at €190. There are further costs to consider when applying for e-Residency in Estonia.