LHV Bank (Estonia)

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LHV Bank (Estonia)

LHV Bank was founded in 1999 by Rayn Lichmus and Andres Wiisemann. The bank’s main goal is to assist with creating domestic capital. Clients of the bank are private individuals, small and medium enterprises, as well as institutional investors. Almost 50 thousand customers use the bank’s services, and the bank’s pension funds comprise more than 100 thousand customers.

LHV Bank has extensive experience in investment and entrepreneurship, and is the largest broker on the Baltic NASDAQ OMX exchanges and international markets for Baltic retail investors.

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

OPEN AN ACCOUNT IN LHVBANK

Types of bank accounts

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

The bank provides an opportunity to open a corporate account for companies registered in offshore zones.

The cost of opening of the account

(bank tariff)

For individuals - free of charge (you only need to pay 30 EUR for issuing Digi Pass (account management)).

For legal entities registered in Estonia, member countries of the European Union and Norway (except Cyprus, Luxembourg, Malta and the UK) - free of charge (you only need to pay 30 EUR for issuing Digi Pass (account management)).

For legal entities registered in other jurisdictions - 500 EUR + 30 EUR (for issuing Digi Pass (account management)).

This amount is debited from the account upon the first receipt of funds in it.

Representative offices 

Latvia: Riga.

Lithuania: Vilnius.

Management of the account

Using Internet-banking.

Bank's tariffs

Accounts for individuals and legal entities - 30 EUR/month.

Payments (EUR, USD):

- european * - free of charge;

- regular - 30 EUR;

- express - 55 EUR.

 

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

For more information on tariffs, see the bank's website.

Terms of opening the account 

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

The preliminary stage includes the process of collecting and filing your documents, which are required for opening an account. The terms of preliminary stage depends wholly on you.

The process of reviewing documents by the bank and making a decision on opening an account takes 5 to 10 business days from the moment the client provides the documents and information requested by the bank.

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.

Staff

Russian speaking.

Credit/debit cards

MasterCard.

Other bank’s products

Documentary operations, loans, fiduciary transactions, safes.

Documents for opening an account

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.

 

Documents for the account holder:

- original of national passport;

- original of foreign passport (mandatory);

- CV-resume.

Documents for the beneficiary:

- original of national passport;

- original of foreign passport (mandatory);

- CV-resume.

 

Documents for the nominal director/shareholder/secretary (while using nominee service):

- copy of the passport and utility bills (in case that nominal director/secretary/shareholder is natural person);

- copy of the Certificate of Incorporation affixed with apostille, Memorandum and Article of Association affixed with apostille, protocol of appointing a director with apostille (if the director/shareholder/secretary – a legal entity). In case that from the date of company incorporation has passed more than 6 months, the Certificate of Good Standing with apostil is required.

The procedure of opening an account

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.

Bank site

www.lhv.ee

For further consultation concerning the terms of account opening in LHV Bank (Estonia) please contact our office. We will respond to any questions you may have and will help you open an account in Estonian LHV Bank or any other bank out of 70 foreign banks you may choose from.