Yes, an Estonian company can open a bank account in Ireland, but the process depends on whether you're setting up a subsidiary or operating as a foreign branch
An Estonian company has two main paths to banking in Ireland. The first is to register a subsidiary — a separate Irish legal entity owned by your Estonian parent company. The second is to operate as a foreign branch of your Estonian company, which means you remain one legal entity but establish a physical presence in Ireland. Banks treat these differently, and the choice affects what documents you'll need, how long the process takes, and your tax obligations.
Most Estonian companies choose the subsidiary route because Irish banks are more familiar with it and the process is more straightforward. A subsidiary is a new Irish company, so you're essentially starting fresh from a banking perspective — the bank sees you as an Irish business, not a foreign one. A branch is more complex because the bank must verify your Estonian parent company's legitimacy, which adds steps and delays.
Key Takeaways
- An Estonian company can bank in Ireland as either a subsidiary (a new Irish company) or a branch (an extension of the existing Estonian company).
- Subsidiaries are faster to set up with banks because Irish banks have standard processes for new Irish companies, while branches require additional verification of the parent company.
- You will need to register your subsidiary with the Companies Registration Office (CRO) or your branch with the Revenue Commissioners before approaching any bank.
- Irish banks now require proof of beneficial ownership, company registration documents, and identification for all directors or authorized signatories, regardless of which structure you choose.
- The entire process from registration to having an active account typically takes four to eight weeks, depending on the bank and how quickly you provide documents.
Setting up a subsidiary: the faster route for most Estonian companies
If you incorporate a new Irish company, you become a standard Irish business in the eyes of the bank. You register with the Companies Registration Office (CRO) using Form A1, which takes about two weeks. Once you have your CRO registration number and certificate of incorporation, you have the documents most Irish banks expect.
The subsidiary will have its own tax identification number (TIN) and will file its own tax returns in Ireland. Your Estonian parent company owns the shares, but the subsidiary is a separate legal entity. This separation means the bank's onboarding process is the same as for any new Irish company — they don't need to investigate your parent company in Estonia, which saves time.
After CRO registration, you approach banks with your certificate of incorporation, the company's memorandum and articles of association, proof of your registered office address in Ireland, and identification for any director or person authorized to operate the account. Most banks in Ireland (AIB, Bank of Ireland, Revolut, Wise, N26) accept this structure without delay.
Operating as a branch: what the bank needs from your Estonian parent
If you register a branch instead of a subsidiary, you remain one legal entity — your Estonian company straightforward establishes an office in Ireland. You register the branch with the Revenue Commissioners, not the CRO, and you provide the Revenue with your Estonian company's registration details, articles of association, and proof of your parent company's legitimacy.
When you approach a bank as a branch, the bank must verify that your Estonian parent company actually exists and is authorized to open a branch. This means providing certified copies of your Estonian company's registration certificate (from the Estonian Business Register), proof of the parent company's directors or authorized signatories, and often a board resolution authorizing the branch opening. The bank may also request a certified English translation of these documents.
This verification step can add two to four weeks to the process because the bank may contact the Estonian Business Register directly or ask you to provide additional proof. Some Irish banks decline to open accounts for branches of foreign companies altogether, so you may have fewer options than you would with a subsidiary.
Documents you will need for either structure
| Document | Subsidiary | Branch |
|---|---|---|
| Company registration certificate | Irish CRO certificate | Estonian Business Register certificate (certified copy, often translated) |
| Articles of association or memorandum | Irish version filed with CRO | Estonian version (certified copy, often translated) |
| Proof of registered office | Irish address with lease or utility bill | Irish address for the branch with lease or utility bill |
| Director or signatory identification | Passport or national ID for each director | Passport or national ID for each authorized signatory |
| Beneficial ownership declaration | Form showing who ultimately owns the subsidiary (usually the Estonian parent) | Form showing who ultimately owns the parent company |
| Board resolution | Not always required, but some banks ask for it | Required: proof that the parent company authorized the branch opening |
Which Irish banks accept Estonian companies
The major retail banks — AIB, Bank of Ireland, and Permanent TSB — accept both subsidiaries and branches, though they may take longer with branches. They have formal compliance teams and will ask for every document listed above. The process is slower but thorough.
Fintech banks and payment service providers like Wise, Revolut, N26, and Bunq are faster for subsidiaries because they operate entirely online and have streamlined onboarding. However, most of these do not offer accounts to branches — they require you to be a registered Irish company. If you choose the branch route, you are more limited in your banking options.
Business banks like Starling and Tide also accept Irish subsidiaries quickly, often within one to two weeks of submitting documents. Again, they typically do not accept branches.
Tax and compliance after you open the account
If you set up a subsidiary, the Irish company files its own corporation tax return with Revenue and pays Irish corporation tax on profits earned in Ireland. Your Estonian parent company is not directly taxed on the subsidiary's income unless it receives dividends, which are then subject to dividend withholding tax.
If you operate as a branch, your Estonian company files one tax return covering both the Estonian operations and the Irish branch. Ireland taxes the branch's Irish-source income, and Estonia taxes the parent company's worldwide income. You may be able to claim a foreign tax credit in Estonia for taxes paid in Ireland, but you should confirm this with an accountant familiar with Estonian-Irish tax treaties.
Both structures require you to register for VAT in Ireland if your turnover exceeds the threshold (currently €37,500 for services, though this varies). You will also need an Irish bank account to pay Irish taxes and meet payroll obligations if you have employees.
Timeline and next steps
If you choose the subsidiary route: register with the CRO (two weeks), gather documents (one week), approach a bank (one to three weeks for fintech, two to four weeks for traditional banks). Total: four to eight weeks.
If you choose the branch route: register with Revenue (one to two weeks), gather documents including Estonian certifications and translations (two to three weeks), approach a bank (two to four weeks). Total: six to ten weeks, and you have fewer banks to choose from.
Start by deciding which structure suits your business. If you plan to hire employees in Ireland, operate independently from your Estonian parent, or want the fastest banking setup, a subsidiary is the better choice. If you want to keep everything under one legal entity and your operations in Ireland are small, a branch may work — but confirm with your chosen bank first that they accept branches.
Frequently Asked Questions
Do I need an Irish address to open a bank account?
Yes. You must have a physical Irish address for either a registered office (subsidiary) or a branch office. This can be a rented desk, a serviced office, or a commercial address — it does not have to be a full office. You will need to provide a lease or utility bill as proof.
Can I use my Estonian company's address as the Irish registered office?
No. The registered office must be in Ireland. If you use a subsidiary, the address must be where the Irish company is registered. If you use a branch, the address must be where the branch operates. You cannot use your Estonian address.
Will the bank ask me to visit Ireland in person?
Most fintech banks do not require a visit — they complete onboarding entirely online. Traditional banks like AIB and Bank of Ireland may ask you to visit in person or may accept video verification. Ask the bank before you start the process.
What if I want to close the account later?
Closing a subsidiary's bank account is straightforward — you straightforward close the account. Closing the subsidiary itself requires filing dissolution documents with the CRO. Closing a branch account requires notifying Revenue that the branch is closing. Either way, you must settle all outstanding balances and tax obligations first.
Do I need a separate accountant in Ireland?
For a subsidiary, yes — you need someone to file Irish tax returns and handle compliance. For a branch, you may be able to use your Estonian accountant if they understand Irish tax law, but most Estonian accountants do not, so you will likely need Irish support anyway.