Applying for a LHV bank account

If you have read my post about Estonian IBAN you know that for a lot of companies there few options for having this IBAN. In my opinion the best one is an LHV account. LHV is a traditional bank from Estonia. But before to apply, read this information about them in the e-Residency Marketplace:

https://marketplace.e-resident.gov.ee/company/lhv

At first I was very pessimistic because I though that I didn’t manage to open it but while I was collecting all the information that I needed I realized that it was possible.

To apply for this account you must visit its website:

https://www.lhv.ee/en

At the top right there is the link to open an account, click it. Then you have to identify yourself but if you are not Estonian you must send them some information about your company filling this form:

https://www.lhv.ee/assets/files/applications/Application_to_open_an_account_in_LHV_Pank_legal_person-EN.pdf

Read it CAREFULLY and collect all information about your company and yourself before to fill and to send it.

You must be able to show that your company is not a ‘chiringuito’

Chiringuito means beach bar in Spanish, but also means shady company. Because it is quite easy to dismantling a ‘chiriguinto’ and disappear.

These are my tips:

• Write or update your CV and / or your Linkedin account.
• Have a good business plan.
• Show that you and your company are trustworthy.
• Try to get as many connections to Estonia as possible, read my post about that.
• Ask them all the details about when can you travel to Estonia to complete the process.
• UPDATED: If you cannot travel to Estonia because of the coronavirus, ask them how to fix it, they may offer you a solution.
• Visit this webpage about restriction on freedom of movement requirements for passengers.

I don’t know the process to open a bank account in other Estonian banks, but I suppose that it should be quite similar.