Estonia company + Estonia bank account
- Thread starter CaLViN
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I have E-residency pack and company in Estonia, but it's impossible to open a bank account in Estonia.
I've tried with LHV and Swedbank. You need strong connections to that country. I've revolut and paysera accounts, so no problem for daily transactions.
I've tried with LHV and Swedbank. You need strong connections to that country. I've revolut and paysera accounts, so no problem for daily transactions.
There is a thread here E- residency avoid tax inversion which refer to more threads, in one of them I think you can find some reputable users which already at this time said it would be impossible to get any banking for a Estonian e-residency
So please go ahead and open a new thread so this one don't get mixed or I will have to delete posts! 😉
As a matter of fact, I have e-residency (although I live far from Estonia) and I found it very easy to form a company in Estonia and open a bank account, maybe because all my activities are totally legitimate and above board and I pay all applicable taxes and I appeared at the bank in person. I cannot comment on other people's experiences
When I formed a OU in estonia I has some problems regarding banks, it was quite silly becouse they told me I should be back several times, in meantime I opened Leupay but was quite afraid becouse of those scandals with Satabank so I open an account in other EU state quite easily. Now everything goes smoothly just fees of banks are higher than I expected but still, its safer than any of EMI account regarding higher yearly turnover (if it is more than 1,5MIO you need auditor).
Hello @Bluepearl In which country did you manage to open a bank︀ account for your estonian company?
I think the main difference for a bank account and︁ EMI is:
- Bank account. Your money is legally covered by government at 100% until︂ a limit of 100.000€ for the major part of banks inside EEA
- EMI. You're︃ not covered by that 100K fund, but anyway all legal registered EMI's offer Segregated accounts︄ for its customers, so the money of customers is sepparated in different accounts and in︅ real banks. So, in fact, the only worst case that could be is that the︆ banks where EMI's store the clients funds go to bankrupcy (which is very improbable)
I think the main difference for a bank account and︁ EMI is:
- Bank account. Your money is legally covered by government at 100% until︂ a limit of 100.000€ for the major part of banks inside EEA
- EMI. You're︃ not covered by that 100K fund, but anyway all legal registered EMI's offer Segregated accounts︄ for its customers, so the money of customers is sepparated in different accounts and in︅ real banks. So, in fact, the only worst case that could be is that the︆ banks where EMI's store the clients funds go to bankrupcy (which is very improbable)
So, in fact, it's always better a bank. Not only for the 100.000€ deposit guarantee, but also for that: huge amounts would be blocked with EMI's. Totally right @Bluepearl
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