Declaration of income received in a foreign financial institution, including a bank account

Under the international automatic exchange of information, tax authorities exchange information on people’s income in foreign financial institutions, including income received in bank accounts opened with foreign banks.

If you are an Estonian tax resident, you must declare in Estonia the income you have received in a foreign financial institution (including in a foreign bank account) both from Estonia and abroad (wages, dividend, interest and business income, income from rent, royalties, pensions, fringe benefits, gains from transfer of property, etc).

Income to be declared

As a general rule, private individuals who hold a bank account abroad have declared the following taxable income:

  • interest income (incl. interest accrued from a deposit)
  • dividend income on which income tax has not been withheld
  • dividend income on which income tax has been withheld
  • gains from transfer of securities
  • gains from transfer of other property (e.g. crypto currency)
  • pension
  • other income (e.g. income from insurance contracts and investment platforms)
  • income from rent
  • business income
  • investment account information if the bank account meets the requirements established for an investment account

More information

Web page of the Ministry of Finance: Exchange of tax information
Income derived in a foreign state
Declaring an investment account

Help with declaring

private client

Last updated: 10.02.2022

open graph imagesearch block image

Was this page helpful?

* Fields marked with an asterisk (*) are required.

If you wish an answer, write your e-mail address.