Requirements for residents legal entities

Estonian legal entities

For opening an account for Estonian resident legal entity it is necessary to submit the following documents to the bank:

• an extract of the Commercial Register or the Register of Non-profit Associations and Foundations or a notarised transcript thereof;

NB! The extract of the register submitted to the bank must not be older than 15 days!

• a document identifying the legal representative(s) of the legal person.

• notarised power of attorney if someone who is not a member of the company’s management board wishes to open the account

If the company’s shareholders are legal entities not being Estonian residents, a copy of registration certificate and a certificate of payment of the annual fee (Certificate of Good Standing) must be presented regarding them.

Start-up accounts are opened for companies in foundation and a notarised memorandum of association must be submitted for that purpose. Until the registration of companies, the founders/shareholders can only make payments to the start-up account.