LHV Bank (Estonia)

Personal, corporate (all accounts are multi-currency, but the main currency is the euro).

The bank opens accounts for companies registered in Estonia and for non-resident companies if there is a real connection with Estonia (residence, business, counterparties, office, employees).

They do not open offshore accounts.

They work with such currencies as: AUD, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, JPY, NOK, PLN, RON, SEK, USD. Companies registered in Estonia, as well as individuals resident in Estonia, can make payments in dollars.

Account opening:

- for individuals – free of charge;

- for companies registered in Estonia and the EEA – free of charge;

- for companies registered in Estonia and the EEA with non-resident owners – 300 EUR;

- for companies registered in other jurisdictions – 600 EUR;

- for high-risk companies – 1000 EUR.

Bank representative offices are located in Tartu, Riga and Vilnius, and the main office is located in Tallinn.

Using Internet-banking.

Monthly account maintenance:

- for individuals – free of charge;

- for companies registered in Estonia and the EEA – free of charge;

- for companies registered in Estonia and the EEA with non-resident owners – 30 EUR;

- for companies registered in other jurisdictions – 60 EUR;

- for high-risk companies – 100 EUR.

Payments (EUR, USD):

- european* – free;

- regular – from 5 EUR;

- express – up to 100 EUR.

* Payment in euros within the SEPA zone. Receipt to the recipient occurs no later than the next banking day.

The account opening period ranges from 10 to 15 business days from the date of visiting the bank and signing the forms. The period for preliminary review of documents and making a decision on opening an account depends on the workload of the compliance bank and the availability of all necessary documents and information.

LHV Вank follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Russian speaking.

MasterCard.

Documentary operations, loans, fiduciary transactions, safes.

Forms for the signing are available in the main office of the bank in Tallinn during a personal meeting.

Company’s documents – originals of all company’s statutory documents shall be provided. If more than 6 months has passed since the date of registration of the company, a Certificate of Good Standing under the apostille is required. You will also need to provide:

- e-resident, Id Card of Estonia (if available);

- business plan;

- documents confirming connection with Estonia;

- description of the company structure, including ultimate beneficiaries;

- bank account statement for the last 12 months. 

Documents for the account manager:

• original internal passport;
• original international passport;
• original identification code;
• CV;
• original bank recommendation;
• original utility payment (for gas, electricity) no older than 3 months (to confirm the residential address).

Documents for the company's beneficiary:

• original internal passport;
• original international passport;
• original identification code;
• CV;
• original bank recommendation;
• original utility payment (for gas, electricity) no older than 3 months (to confirm the residential address).

Bank may also request documents confirming the source of income (welfare) of the beneficiary. It can be:

• a certificate from the place of employment indicating wages and a personal account statement showing the calculation of wages;
• tax returns;
• documents confirming receipt of inheritance;
• documents confirming receipt of funds as a gift, as well as their availability in accounts;
• documents confirming the sale of movable/immovable property;
• if the beneficiary is the founder of the company - documents for the company, statements of company accounts, tax returns, documents confirming the payment of dividends;
• if the beneficiary is a private entrepreneur - an extract from the register, tax returns for the entrepreneur, bank account statements;
• a certificate from the bank confirming the presence of a deposit, as well as documents confirming the source of receipt of these funds;
• other documents showing sources of income.

Documents for the nominee manager, shareholder and secretary (when the company uses the nominee service):

• binding of documents under an apostille, including copies of: passport, utility bill receipts no more than 3 months old and bank recommendation (if the nominee director, shareholder and secretary are an individual);
• binding of the company’s statutory documents under an apostille, including: Certificate of incorporation, charter and constituent agreement, protocol on the appointment of a director (if the director is a legal entity). You may also need a Certificate of Good Standing under an apostille, a Certificate of Incumbency under an apostille, and documents for the director: binding of documents under an apostille, including a copy of the passport, a utility bill receipt no more than 3 months old, and a bank recommendation.

To begin the process of opening an account, a client should visit the Campio Group office to fill in a questionnaire and provide original passports and company documents. After that, bank questionnaires are filled in and sent to the bank. The bank reviews documents and makes a decision on opening an account. If the decision is positive, the bank sets the date and time for the meeting of the company attorney and beneficiary at the bank's main office in Tallinn to sign the forms. Also, it is necessary to take the originals of all the statutory documents for the company.

The option of remote account opening is not available for non-residents.

www.lhv.ee