Corporate IBAN in a classic bank, non-residents of Estonia

Pros:

• opens accounts for companies where participants are non-residents of Estonia
• website, Internet banking and bank services are available in Russian;
• inexpensive banking services;
• multicurrency account (USD, EUR, RUB, etc.);
• the largest and most widespread bank in Scandinavia and the Baltic states, based on Swedish capital;
• fast-responding bank support.

Cons:

• relatively small starting limits for outgoing payments via Internet banking for start-up companies: 20 euros per day and 000 euros per month (there are no restrictions on incoming payments). In the future, you can raise the limits - personally by a member of the board or representative by proxy, usually this opportunity appears, on average, after 100 months of the company’s work. At the same time, you can send any amount to the bank office, the initial limits are valid only for payments through Internet banking;
• opening an account takes place in 2 personal visits to the bank - for the first time you need to fill out questionnaires and apply for opening an account (this must be done personally by a member of the board). Then the bank makes a decision within 10 business days and if the bank says “Yes”, then you need to come a second time to sign a service agreement, get a pin generator and get access to Internet banking;
• the bank is critical of the place of business of an Estonian company and if, in the opinion of the bank, it is not sufficiently connected with Estonia (some of which are partners, customers, employees, office, import-export, production, residence permit in Estonia with a member of the board), then there is a high probability of refusal to open an account;
• not very “loves” companies whose large monthly turnovers are planned immediately (over 200 euros);
• the fee for opening an account (only in case of a positive decision) for companies with non-residents is 200 euros, plus 8 euros for a pin generator for entering Internet banking.

Necessary documents and terms for opening an account:

• company profile and profile physical. persons (filled in personally at the bank);
• CV (autobiography) of each founder and member of the board, which can be brought immediately or sent to the bank's email after filling out the questionnaire;
• brief business plan (description) of upcoming activities, without financial forecast;
• can send an additional list of questions on upcoming activities.
• consideration of an application for opening an account up to 10 business days.

Pros:

• opens accounts for companies where participants are non-residents of Estonia
• website, Internet banking and bank services are available in Russian;
• inexpensive banking services;
• multicurrency account (USD, EUR, RUB, etc.)
• one of the largest banks in Scandinavia and the Baltic States (only slightly inferior to Swedbank), based on Swedish capital;
• free account opening, you only need to pay 15 euros for a pin-generator to enter Internet banking;
• Limits on outgoing payments through Internet banking can be any - the client himself sets;
• Fast response bank support.

Cons:

• account opening is possible only with a personal visit of the client;
• opening an account takes place in 2 personal visits to the bank - for the first time you need to fill out questionnaires and apply for opening an account (this must be done personally by a member of the board). Then the bank makes a decision within 10 business days and if the bank says “Yes”, then you need to come a second time to sign a service agreement, get a pin generator and get access to Internet banking;
• the bank is critical of the place of business of an Estonian company and if, in the opinion of the bank, it is not sufficiently connected with Estonia (some of which are partners, customers, employees, office, import-export, production, residence permit in Estonia with a member of the board), then there is a high probability of refusal to open an account
• You must immediately provide the contract (s) with at least one with an Estonian partner.

Necessary documents and terms for opening an account:

• Application forms (filled out at the bank office) - filled out by a member of the board;
• the contract (s) with Estonian partners (originals), possibly preliminary, but must be immediately, already at the stage of opening an account during the first visit to the bank;
• consideration of an application for opening an account up to 10 business days.

Pros:

• opens accounts for companies where participants are non-residents of Estonia
• website, Internet banking and bank services are available in Russian;
• inexpensive banking services;
• multicurrency account (USD, EUR, RUB, etc.)
• free account opening, you only need to pay 15 euros for a pin-generator to enter Internet banking;
• Limits on outgoing payments through Internet banking can be any - the client himself sets it.
• submit an application and other documents for opening an account remotely - by email;
• after approval of opening an account by the bank and visiting their representative in Moscow, St. Petersburg or Kiev for identification (takes 5 minutes), documents to the account can be received by DHL courier without arriving in Tallinn;
• Fast response bank support.

Cons:

• the bank is critical of the place of business of an Estonian company and if, in the opinion of the bank, it is not sufficiently connected with Estonia (some of which are partners, customers, employees, office, import-export, production, residence permit in Estonia with a member of the board), then there is a high probability of refusal to open an account;
• a sufficiently large set of documents required to open an account (see below).

Necessary documents and terms for opening an account:

• application form - filled out by a member of the board;
• Scan of a foreign passport - each founder and member of the board provides;
• a letter of recommendation from any other bank where a private account has already been opened - is provided by each founder and member of the board;
• CV (autobiography) of the client - each founder and member of the board provides;
• a handwritten statement that the client is the true beneficiary is provided by the beneficiary of the company;
• the last communal account (or other account), where there is a full name and address of the client, is provided by each founder and member of the board. If the address is already indicated in the certificate from the bank (see above), then the utility bill is not needed;
• can send an additional list of questions on upcoming activities.
• consideration of an application for opening an account up to 10 business days;

Pros:

• opens accounts for companies where participants are non-residents of Estonia
• website, Internet banking and bank services are available in Russian;
• inexpensive banking services;
• multicurrency account (USD, EUR, RUB, etc.);
• flexible lending conditions for enterprises and physical. persons;
• Limits on outgoing payments through Internet banking can be any - the client himself sets;
• not so categorically demand communication with Estonia, but also needed;
• You can apply for opening an account without arriving in Tallinn - by e-mail;

Cons:

• the probability of refusal to open an account for companies whose planned monthly turnover is less than 200 thousand euros;
• the probability of refusal to open an account to companies that work in the IT sector or provide other services on the Internet;
• the probability of refusal to open an account to companies that intend to work mainly in dollars (due to the reluctance to increase "dollar" customers).
• opening an account is paid, in case of a positive decision - 70 euros plus 50 euros for a pin generator to enter Internet banking;
• long answer client requests by e-mail.

Necessary documents and terms for opening an account:

• company profile and profile physical. persons - filled in by a member of the board;
• scan of the passport of each member of the company;
• scan of the internal passport (if any) of each member of the company;
• CV (autobiography) of each member of the company;
• can send an additional list of questions on upcoming activities;
• Consideration of an application for opening an account officially takes up to 10 business days, in practice it can be up to 15-30 business days.

Pros:

• relatively willingly open accounts for companies working in the IT field;
• dialogue with the bank can be started remotely - by e-mail and the decision to open can also be obtained by e-mail, after which you must come in person to sign the documents.

Cons:

• difficult to open accounts for Estonian companies where the founders and / or board members are not residents of Estonia - opening is possible only if there are partners from Estonia and preferably have an account with the same bank;
• do not work with dollar payments;
• long review of the application - about 30 days.

Medicinos bankas was one of the first financial institutions in Lithuania to start providing bank services to its clients via the Internet. You can open a bank account in Lithuania here.

UAB Medicinos Bankas is engaged in European money transfers in euros with countries using the SEPA system only upon payment of a commission. As a rule, the transfer of funds takes one business day. In addition, the bank transfers funds in foreign currency and in euros and to other banks in Lithuania, as well as to foreign banks in countries that are not members of the EZS and are not members of SEPA.

In order to open a current account with Medicinos bankas, it is necessary to prepare a completely standard package of documents. At the same time, in order to open a bank account in the Lithuanian Medicinos bankas without any extra costs, Diamont Law specialists will assist and support you at each stage.