Company Incorporation in Estonia & Bank Account Opening Requirements

1. Estonia Company Incorporation Requirements

• Common company type: OÜ (Osaühing – Private Limited Company).
• Minimum 1 shareholder (individual or corporate).
• Minimum 1 management board member (can be foreign; no residency requirement).
• Registered legal address in Estonia.
• Local contact person required if management board is entirely non‑resident.
• Minimum share capital: EUR 0–2,500 (can be deferred; banks may require paid‑up capital).
• Company name approval with Estonian Business Register.
• Articles of Association.
• Digital identification via e‑Residency (recommended for foreigners).

Required Documents for Incorporation

• Passport copies of shareholders and board members.
• Proof of residential address.
• Company name options.
• Business activity description.
• Shareholding structure details.
• Articles of Association.
• Power of Attorney (if incorporation is done via service provider).

2. Bank Account Opening Requirements in Estonia

• Physical presence may be required for traditional banks; fintech banks allow remote onboarding.
• Completed bank application forms.
• Extract from Estonian Business Register.
• Board resolution authorizing the opening of the bank account.
• Clear explanation of business model and economic substance.
• Proof of business activity (contracts, invoices, website).
• KYC/AML checks including source of funds and source of wealth.
• Minimum deposit depends on bank or fintech provider.

Documents Typically Required by Banks

• Extract from Estonian Business Register.
• Articles of Association.
• Shareholder and board member passport copies.
• Proof of residential address.
• Board resolution.
• Business plan or activity description.
• Contracts or proof of counterparties.
• Source of funds and source of wealth documentation.
• UBO declaration.