Estonia is the first country in the world to offer entrepreneurs e-Residency. Becoming an e-resident provides you with a physical smart card (digital-ID), which allows you to use Estonian public and private services online.

Once you have applied for e-Residency and have received your e-Resident ID card, you are welcome to visit a local bank office. Keep in mind that e-Residency does not guarantee a bank account. The decision to deny banking services to an e-resident is made at the sole and absolute discretion of the bank.

The e-Resident smart ID card is approved by LHV, Swedbank and SEB banks. For compliance reasons opening a bank account today requires one face-to-face meeting. From 2017 it is expected that the banks will make it possible to open an Estonian bank account from abroad. Read more about it from this article: Opening an Estonian bank account from abroad.

Steps for opening a bank account:

1. Visit a bank in Estonia.
2. Submit an application for a new account, wait for approval.
3. Upon approval, digitally sign the contract with your e-Resident card and return via e-mail to the bank.
4. You are now eligible to open an online payment service provider account.

e-Residency application support

We support our clients when applying for Estonian e-residency on the basis of the client doing business in Estonia. You can apply for the e-Residency online here. The e-resident’s digital ID can be collected from the Estonian Police and Border Guard Board service points or your closest Estonian embassy.

If you need additional information and consultation, do not hesitate to get in touch with 1Office client service.