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Can I open a business account and how do they work?

Who can open a business account?
  • Business accounts are here for Estonian private limited companies (OÜ or osaühing) with both single and multiple beneficiaries. These accounts are available for certain low-risk industries. Please see the document “List of high-risk industries” in our Legal documents, which describe the industries we currently do not onboard
  • The person opening the account must reside in a country in which Lightyear is already available for personal accounts (see "What services do you offer and in which country?"). Right now, the current director of the business has to be the one opening the Lightyear account. If you have more than one business, you can open multiple business accounts with us

Multi-access to one company account

Lightyear does not permit opening multiple business accounts for the same company. However, upon request, we are able to grant access to multiple persons to the same business account. To start the process for multi-access, please contact Lightyear Support below. Note that access can be granted only by the associated persons who have the Right of Representation (members of the management board, director). Granting access requires filled out and digitally signed User Authorisation Form (UAF) by the representative, which is provided by Lightyear upon request. To start this process, please contact Lightyear Support below
Do I need a personal account with Lightyear?
Yes! In order to create a business account, you need to hold a personal account with Lightyear first. They both only take a few clicks to set up — and switching between the accounts is super smooth
How much does it cost to open a business account?
It’s free to open up a business account! We also don’t charge any custody or monthly fees. Investing through a business is low-cost and priced just like investing from your personal account. We also pay interest on uninvested cash for businesses too. Check out our full pricing information here
Opening an account and navigation

How to open my first business account?

Go to your profile and tap "Open a Business Account" under your name

How to open another business account?

Tap on "Switch account" under your name and choose "Open a new business account" at the bottom

How to navigate from one account to another?

You have three options in the Lightyear app:
  • Select your profile in the top left corner and tap on the account switch button under your name
  • Tap and hold on your profile icon in the top left corner of the app
  • Swipe up or down over your profile icon in the top left corner of the app
How depositing to my business account works?
You can only deposit money to your Lightyear business account, through a bank transfer from your company account
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