Estonia e-resident share capital: Use Holvi. Save time. Be free.

E-residents can now pay share capital through any credit or payment institution in the EEA, including Holvi.

This is a guest post submitted by a company that’s growing by serving e-residents. Learn more about working in partnership with the e-Residency programme here.


Starting a business as an e-resident of Estonia has always been straightforward. Except for one thing.

When you open a limited liability company, you have to pay share capital. And in order to do this, you need to open an Estonian bank account. Which means taking time away from your business, collecting a bunch of paperwork and waiting around in a grey office for an account-opening executive to see you.

Sounds like a drag? That’s because it is.

Well, was. As from January 2019, you don’t have to go through that hassle anymore.

In December 2018, the Riigikogu — the Estonian Parliament — passed a law amending the Estonian Commercial Code. As a result of the amendment, you can pay your share capital through any credit or payment institution in the European Economic Area, including Holvi.

If you’re an e-resident of Estonia and a Holvi customer, your business is now truly free. Not only can you access the EU single market’s 500 million customers and manage your money entirely online. You can also pay your company’s share capital at the touch of a button.

Wherever you are in the world.

Painting the picture: what was the situation before January 2019?

When you open a limited liability company as an Estonian e-resident, you have to register at least €2,500 in share capital. This is called ‘minimum share capital’ or ‘minimum capital requirement’.

The share capital contribution isn’t a fee. It’s money you give your company to spend on building and growing your business. Then, when your company starts doing well, you can take the profits as dividends.

Before January 2019, you could only register share capital through an Estonian bank. And this meant that you’d have had to go through the bureaucratic and time-consuming process of opening a traditional Estonian bank account.

This process typically involves:

A visit to a bank branch:
While some Estonian banks allow you to start your application online, you’ll usually have to go to a branch in person to finish opening a bank account

Collecting paperwork:
Alongside your passport, many traditional banks need proof of an Estonian address and proof you have ties to the country

Waiting:
You’ll typically have to wait 5 business days for the bank to decide on your application

How has the law changed?

The amendment of the law allows you to pay your share capital using any bank or payment institution in the EEA, which includes the 28 member states of the European Union plus Norway, Iceland and Liechtenstein.

If you already have a business bank account in an EEA country, this is great news. It means you can use your current business bank account to pay in your share capital. There’s no need to open a separate one in Estonia.

If you don’t already have a business bank account, you can now open one with a payment institution such as Holvi. This will make things much simpler and more convenient because:

  • You can complete your application 100% online from wherever you are (yes, even from a deckchair in Thailand)
  • You don’t need a separate account with an Estonian bank to register your share capital, which means it’s easier to stay on top of your finances
  • You’ll get access to tools to help you grow your business and save time on admin. At Holvi, our accounts come with smart invoicing, hassle-free bookkeeping and much more
  • Paying in your share capital through Holvi is as simple and straightforward as it gets:
  • Deposit €2,500 in your Holvi account with the reference “share capital”
  • Email us on support(@)holvi.com for a certificate
  • We’ll email your share capital contribution certificate in as little as 3 to 4 working days

Setting your business free

It’s never been easier to do work you love and live your dream lifestyle. But while technology has made us more flexible and more mobile, the business side of things has failed to keep up.

We’d know. When we started Holvi in 2011, it was out of frustration. Even basic things like tracking expenses and opening a business bank account were complicated processes. So we decided to build the business bank account we wished we had.

Over the past 2 and a half years, we’ve helped thousands of e-residents from all over the world become successful entrepreneurs. But with this amendment of the law, we think e-residents of Estonia are even freer to live their best life. Including picking the business account that best suits their needs, whether that’s in Estonia or somewhere else in the EEA.

Thinking of joining Estonia’s over 50 000 e-residents and launching a business? At Holvi, we’re more than a business bank account for entrepreneurs.

Find out why we’re the perfect business partner for Estonian e-Residents.