Estonian banks: rating of the most popular financial institutions
Estonia, which is located next to us, is a member of the European Union, which gives it some privileges. The list of banks in Estonia is not as large as, for example, its neighbors – Lithuania and Latvia. There are approximately 10 commercial banks operating in the country. Today, the Estonian banking system is one of the most reliable.
The Estonian economy needs investment, so it is taking some measures that make it attractive for investors. If you want to open an offshore company, then you should familiarize yourself with the economic benefits in advance. For example, Estonia has a special guarantee fund. It was created in order to ensure the safety of deposits. What does it mean? Investors and depositors do not need to worry about investments up to 100 thousand euros, in case of force majeure, the fund will reimburse the entire amount.
Estonia’s largest banks: list and description
The rating of Estonian banks that allow you to open an offshore company is headed by such giants:
- Eesti Pank.It is considered the central bank of the country.Prior to Estonia’s accession to the European Union, this bank was engaged in currency regulation.In 2011, the Estonian economy switched to the euro, and it changed its business direction.Today, he is engaged in pricing policy in the domestic market, as well as supervises the work of commercial banks in the country.Currency regulation is currently carried out by the Central European Bank.
- Most of the Estonian banking segment is occupied by two Swedish banks, SEB Bank AS and Swedbank AS, which have extensive experience and an impeccable reputation.In addition, the range of services of institutions is very diverse.They are engaged in currency transactions, loans, letters of credit, investing, issuing payment cards, etc.These institutions have representative offices in many post-Soviet countries.A client who does not speak a foreign language can use the bank’s services.For example, Russian-speaking clients can count on the help of a bank employee.
In addition to the largest financial institutions, there are other banks that serve Russian-speaking clients.
Best Commercial Banks in Estonia
- Tallinna Aripank has been operating in the state for more than 20 years.This credit institution is also known as Tallinn Business Bank and cooperates with representatives of small and medium-sized businesses.A non-resident of Estonia can open an account remotely, as well as manage it via Internet banking.On the Internet, you can find reviews that confirm its professionalism and reliability.
- Sampo Pan is a member of a large Scandinavian group.There are Estonian banks in Ukraine, Lithuania, Latvia, Belarus, Kazakhstan, Azerbaijan and Russia.Not everyone who wants to approve the application for opening an account is taken into account such an indicator as profitability.It is important for the bank to know for what period the account is opened, as well as the main list of services that the client needs, so they can calculate the bank’s profitability.This bank is considered the best in terms of service.The bank does not work with offshore companies.
- Marfin Bank is an institution that cooperates with both residents and non-residents.Since April 2012, UKRSELHOSPROM PCF LLC has owned most of the stake (over 70%).
- Krediidipank cooperates with both residents and non-residents, provided that the client is present in person when opening an account.
How do I open an account with Estonian banks?
Having an account with one of Estonia’s commercial banks is very profitable, because the country is a member of the European Union and is not blacklisted in any country in the world. Almost all representatives of the banking system provide customers with a universal service, secure account management at a distance, and opening multi-currency accounts. The bank’s employees speak Russian. In addition, currency control quickly passes payments that come from Ukraine, Russia and other countries.
To open an account in Estonia, you need to know some of the nuances related to the operation of banks for non-residents. All Estonian banks have similar requirements for their clients and request an identical set of documents. But the willingness to cooperate with the client depends on which country they represent.
Each bank has its own policy on cooperation with non-residents. How to understand? If a company is registered in Estonia and its founder and board member are non-residents, banks may require that the client’s work be carried out for the benefit of Estonia. And this should happen not in the future tense, but in the present, when applying to the bank. The client must be economically and physically present in the country. Estonian banks do not open accounts for companies that have an offshore company in their structure.