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99% of all banking in Estonia happens online. Estonia’s e-banking system is simple and secure, with most transactions happening practically instantaneously.
Banks in Estonia offer a wide range of financial services from everyday banking to sophisticated wealth management and are also the biggest providers of leasing and factoring services.
The largest banks (by market share):
A full list of banks in Estonia can be found on the website of the Estonian Banking Association.
The high quality of online banking services has driven the vast majority of the population online. Today, over 99% of all banking transactions in the country happen online, with user-friendly services available 24/7. In contrast with the US, for example, where a third of money transfers are still carried out by writing and mailing checks, which can take days to process, Estonia’s e-banking system is simple, secure, and practically instantaneous.
Opening a bank account is possible online using an e‑ID or e-Residency card, a video interview recording, and facial recognition technology. Banks continue to work hard to develop technical solutions that will allow them to welcome clients from anywhere without a face-to-face meeting by enhancing the security of customer identification.
Estonian e-Residents can use an ever-growing number of payment and banking services in and outside of Estonia, including some that enable you to open a business bank account without physically visiting Estonia.
Find more information and an up-to-date list of banking and payment providers on e-Residency’s Marketplace and browse e-Residency’s Knowledge Base for further details.
When you do business in Estonia, you can make the most of the Estonian government’s strategic focus on human capital and smart economy investments.
Various national and EU grants are available that can boost your competitiveness and innovation, help recruit foreign specialists, and more.
Emphasis is on innovation and new business models in the following three areas:
An up-to-date list of grants available to foreign investors is here.
Read more about available grants on the websites of Enterprise Estonia and the European Union’s Structural Funds in Estonia.
Here are some useful links regarding financing of a company:
You are also welcome to send us an enquiry for more specific information.
What is it like to run a business in Estonia? How to benefit from the e-solutions and the efficiency of our business culture? What are the opportunities in specific sectors? Who to partner up with?
The Estonian Investment Agency’s team is happy to help you via its complimentary e-Consulting service, organize online or offline follow-up events such as virtual investment visits and guide you through the fairly simple process of investing in Estonia.
