Since 1 July, 2014 Estonian FIU issues authorisations for operating in the following areas of activity:
- operating as a financial institution
- providing trust and company services
- providing pawnbroking services
- buying-in or wholesale of precious metals, precious metal articles or precious stones, except precious metals and precious metal articles used for production, scientific or medical purposes
Until the end of 2024 the FIU issued authorisations for providing virtual asset services. Currently, Finantsinspektsioon issues these licences.
Search for valid authorisations: The Register of Economic Activities
The authorisation obligation does not apply to a person who holds:
- authorisation granted by the Financial Supervision Authority
- obligation to apply for the Financial Supervision Authority’s authorisation under another Act
- authorisation granted by the financial supervision authority of a contracting state of the European Economic Area based on which the person is authorised to operate in Estonia via a branch or across borders:
- provided that the Financial Supervision Authority has been notified of such operations, or
- who provides the services specified in Money Laundering and Terrorist Financing Prevention Act § 70 subsection 1 within the group.
Countries of high risk
According to the Money Laundering and Terrorist Financing Prevention Act , in their economic or professional activities an obligated person shall pay special attention to business relations and transactions if the place of residence or seat of the customer or the person participating in transaction or the person using the professional service or the seat of the provider of the payment service of the beneficiary is in a third country or in a territory where sufficient measures for preventing money laundering and terrorist financing have not been taken, or if the country or territory is not engaged in international cooperation for prevention of money laundering and terrorist financing, or if it is a low tax rate territory. If such transactions lack an obvious economical or visible legal purpose, then the background and purpose of such transactions must be investigated as far as possible and the investigation results must be recorded in writing, so that even with a slightest doubt a notice will be sent to the Financial Intelligence Unit (FIU).
According to the Money Laundering and Terrorist Financing Prevention Act, the financial institutions shall ensure that, upon implementation of rules of procedure and internal control rules in the subsidiaries where they have a majority holding and in their branches and representative located in a third country, requirements at least equivalent to those provided for in the Money Laundering and Terrorist Financing Prevention Act are established, if their seat or place of business is located in a third country which does not implement sufficient measures for prevention of money laundering and terrorist financing or does not participate in international cooperation for prevention of money laundering and terrorist financing, or if the country is a low tax rate territory.
You may find information about the countries of high risk here .
Estonian legislation
Last updated: 29.09.2026
