Create a company in Estonia
Ever heard of Estonia?
Holders of Estonian ID-card or e-residency can start a company in Estonia fully online. What is e-residency and where the heck is Estonia?!
Estonia is a small country in North-Eastern Europe, with a population of only 1,3 million people. A country that is mostly covered with forests, people in Estonia are not hunter-gatherers (although, many people do enjoy mushrooming and berry picking). They are rather innovators in the IT sector. As well is the state and its business and services. Declaring taxes online within 5 minutes, voting online (of course) and starting a business online within a couple of hours, to name a few.
E-residency is a simple yet efficient tool for those who are connected with Estonia, are admirers of the country or want to start a business there. And especially helpful for digital nomads and freelancers.
Becoming an e-resident of Estonia and receiving a government-issued digital identity you can establish, register and run a company in Estonia. Why should you?
It’s easy and hassle-free
Firstly, it is easy to become an e-resident, you just need to fill in the form, pay a 100-euro fee and apply. Then you wait for your background to be checked and e-residency issued, which usually takes around one month. You can apply for e-residency here
Once you become an e-resident, opening your business in Estonia doesn’t get much easier than that. You just have to complete these three steps
1) Make sure your company has a legal address in Estonia
2) Make sure your company name is available (you can check it here)
3) Register your business
In addition to the quick business establishing process, it has many more advantages, such as online banking. However, you will have to visit Estonia at least once to open a bank account in an Estonian bank. Then again, what’s the harm of visiting the cozy country with an old-town listed as a UNESCO world heritage site, right?
Regardless of someone’s e-residency, a person must always pay taxes in the country in which he or she is a tax resident. That said, it is worth mentioning that personal tax-obligations are different from company tax obligations. Which means that a company registered in Estonia by an e-resident of Estonia, is tax-obligated in Estonia. More about the taxation in here.
It is time and money saving as you can run your business fully online and remotely. Also, you can have customers as well as suppliers from all over the globe.
So why not make your company a global success story such as the stories already written by Estonian startups Pipedrive and Transferwise.
Say bye to loads of paper and hi to a digital signature!
Keep an eye on Training Experience’s offers for getting an internship in Estonia.
