Who can open an account?

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1. Which countries does Holvi offer services in?

We currently offer our services in Finland, Germany, Austria, for Estonian e-residents and through our Eurozone programme in Belgium, France, Ireland, Italy and the Netherlands. Please note, that as an account creator you must have your main residence in the same country as your company is registered (except if you are an e-resident), but you don't need to be a national of that country. Administrators, editors and beneficial owners (who are not account creators) may live in another country within the EEA, please find more information about this here

If you open an account as an Estonian e-resident, your residence may be almost anywhere in the world. The exception are any countries that are currently not FATF compliant.

Holvi currently does not support FATCA reporting, so unfortunately we can't offer accounts for clients that represent US indicia and might be liable for FATCA reporting (e.g. US citizens).

FATCA (US reporting)
The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law to enforce the requirement for United States persons including those living outside the U.S. to file yearly reports on their non-U.S. financial accounts to the Financial Crimes Enforcement Network (FinCEN).
Who is affected by FATCA?
The Act applies to "U.S. persons "(US taxpayers), Individuals and legal entities which meet any of the following US indicia:

Identification of the Account Holder as:

  • U.S. citizen or resident;
  • Unambiguous indication of a U.S. place of birth;
  • Current U.S. mailing or residence address (including a U.S. post office box);
  • Current U.S. telephone number; (with the prefix +1)
  • Standing instructions to transfer funds to an account maintained in the United States;
  • Currently effective power of attorney or signatory authority granted to a person with a U.S. address; or
  • An “in-care-of” or “hold mail” address that is the sole address the Reporting Finnish Financial Institution has on file for the Account Holder.

Holvi also does not support countries of residence that are listed as "High risk and non-cooperative" by FATF.

2. Which company forms does Holvi support?

In general, Holvi does not support ownership structures that involve one or more legal entities with 25% or more shares / investments. That means if your company is owned by another company, we will not be able to offer you an account. 

The following company types are accepted:


  • Oy - Osakeyhtiö
  • Toiminimi / Yksityinen elinkeinonharjoittaja


  • Einzelunternehmen / Gewerbe
  • Freiberufler
  • GmbH in Gründung (Vor-GmbH)
  • GmbH - Gesellschaft mit beschränkter Haftung
  • UG - Unternehmergesellschaft (haftungsbeschränkt) in Gründung
  • UG - Unternehmergesellschaft (haftungsbeschränkt)

For German company types GmbH and UG, we can offer founder accounts, which allow you to pay your starting capital into your bank account before official documentation is available. All other company forms must be able to provide all relevant documents for verification before opening the account.  


  • Einzelunternehmen / Gewerbe
  • Freiberufler
  • GmbH - Gesellschaft mit beschränkter Haftung


  • OÜ - Osaühing

Belgium, France, Ireland, Italy and the Netherlands: 

Please find more information about the supported company types here.

3. Can I open a private account with Holvi? 

Unfortunately this is not possible. Holvi only offers business accounts.  


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