Estonian banks, payment institutions and other obliged entities follow the Money Laundering and Terrorist Financing Prevention Act, which sets what they must identify and when they must refuse.
The customer due diligence steps Estonian law imposes on an obliged entity onboarding a company.
Money Laundering Act: obliged entities include credit institutions and financial institutions, the latter covering payment service providers and e-money institutions, and also trust and company service providers.
Money Laundering Act: due diligence applies on establishing a business relationship, on occasional transactions of at least EUR 15,000, when data reliability is doubted, and whenever money laundering or terrorist financing is suspected.
Money Laundering Act: the due diligence measures are identifying and verifying the customer and its representative, identifying the beneficial owner and understanding the ownership and control structure, understanding the business relationship, PEP screening and ongoing monitoring.
Money Laundering Act: to understand a business relationship the obliged entity establishes, among other things, the seat or place of business, field of activity, main contracting partners, payment habits and whether the customer acts for another; source of wealth is gathered where relevant.
Money Laundering Act: when identifying a legal person the obliged entity records its name, registry code and registration date, its board members and their powers of representation, and contact details, verifying them from a credible independent source such as a register.
Money Laundering Act: on request, a representative of a foreign legal person must present a document proving their powers that is notarised (or equivalently authenticated) and apostilled or legalised, unless an international agreement provides otherwise.
Money Laundering Act: an obliged entity may not establish a business relationship if it cannot complete due diligence or suspects money laundering; a customer's refusal to provide required information is treated as grounds for extraordinary termination and a report to the FIU.
Money Laundering Act: where a customer's beneficial-owner data must be registered under an EU Member State's law, the obliged entity must obtain the relevant registration certificate or register extract.
Money Laundering and Terrorist Financing Prevention Act, English translation — Riigi Teataja
Fact sheet last reviewed 2026-09-28. Jurisdiction rules are confirmed against the sources above; a provider's own requirements differ and are confirmed by the provider.
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We assess the structure and requirements against what providers typically accept before recommending a direction.
We identify a suitable regulated provider and explain what is realistically available for your case.
You complete official KYC/KYB directly with the regulated financial provider — not with Latynex.
The provider makes the final decision and activates the account. We stay involved if anything needs coordinating.
Latynex is not a bank or electronic money institution. Financial accounts and payment services are provided by independent, regulated financial institutions. Final eligibility and approval are determined by the selected provider, following its own KYC/KYB review.
Money Laundering Act: on request, a representative of a foreign legal person must present a document proving their powers that is notarised (or equivalently authenticated) and apostilled or legalised, unless an international agreement provides otherwise.
Money Laundering Act: an obliged entity may not establish a business relationship if it cannot complete due diligence or suspects money laundering; a customer's refusal to provide required information is treated as grounds for extraordinary termination and a report to the FIU.
No. Latynex is not a bank, EMI or payment institution. We review your case and, where suitable, introduce it to an independent, regulated financial provider who handles the account itself.
No. No introducer can guarantee a banking or payment-account decision. The provider you are introduced to runs its own KYC/KYB review and makes the final call under its own policies.
Typically: certificate of incorporation, register of directors and shareholders, proof of UBO identity and address, a description of business activity, and evidence of source of funds. Exact requirements vary by provider.
Setup and ongoing fees vary with jurisdiction, ownership structure, business activity, expected turnover and compliance profile. The provider discloses its fees before you proceed, and any Latynex advisory fee is disclosed separately.
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