This depends on whether you have e-Residency already or not. Receiving the e-Residency card takes 3-4 weeks in most cases. Once you have the card, registering the company takes about 24 hours.
If you are planning to open an account with Wise, it will take 1-5 business days for them to process your application and open an account for you. Once they've opened the account, you can start with your business transactions immediately.
Complete timeline to launch with Xolo Leap and Wise:
1. e-Residency (if needed)
3-4 weeks to receive your e-Residency card
2. Company registration with Xolo Leap
~24 hours once you have e-Residency
3. Wise Business account
Typically, 1-5 business days for verification, although verification times can vary, then immediate transaction capability
Total time to operational:
If you already have e-Residency, you can be fully operational – company registered and banking active – within approximately 1 week.
Pro tip: Start your Wise Business application as soon as you begin company registration to run both processes in parallel and minimise downtime.
What you'll need for Wise verification:
- Photo ID and proof of address for account representative
- Business registration number and addresses
- Details of beneficial owners (25%+ ownership)
- Business documents (varies by entity type)
- Source of funds documentation
Once verified, you immediately gain access to:
- Hold and convert 40+ currencies
- Local account details in 9+ currencies
- Send to 160+ countries with 74% arriving within 20 seconds
- Business debit cards with team spending controls
- Integration with Xero, QuickBooks, and Xolo Leap
Getting started faster:
Have all required documents ready before beginning your application. The Wise Business team aims to verify accounts within 2 working days when complete documentation is provided upfront.
An additional option is applying for an LHV bank account for your business. If the LHV account is needed, we'll prepare the necessary documents, and receiving the bank's pre-approval usually takes 10-14 days. Once the bank has made a positive decision, you can book a trip to Tallinn to verify yourself in the bank's office.