A Quick Guide on How To Register A Company in Estonia
Estonia is one amongst the most promising markets in the European Union, due to the government's favourable policies, liberal legislation, beneficial terms of lending, no corporate tax, and a technologically advanced country. So, in a nutshell, all the above factors unite Estonia is the most preferred choice for setting up a startup in the entire Europe.
Getting Started With Setting Up Your Business in Estonia
For registering a company in Estonia, you need to follow a proper online process that let you establish an EU-based company. Even if you are not a resident of this Baltic nation, you can still launch your business by obtaining the e-residency card. This ID card provides you access to the government and public services in Estonia. Again, Estonia being a fully digitalised country, the procedure to get the e-residency card is online. Apart from providing the fundamental details along with the necessary documents, you are required to select a pick-up location to collect. The state fee for the e-residency program is 100 Euros. A Physical Address is Required
Earlier, anyone can set up a company in Estonia, the recent amendment passed by the parliament, and Estonian contact person and a legal address are needed. On average, the monthly rent for business space in Estonia is approximately 100 Euros.
Pay the State Fees
To register your company in Estonia, you've got to pay a state fee, which is 190 Euros. This fee is for business registration and creating the company’s structure.
Apply for Funds
Opening a bank account & obtaining business funds in Estonia is perhaps the only drawback to starting a company here. The rules and regulations of banks in the country are complex, and next to impossible to adhere to. But, to our good fortune, there are fintech partners in Estonia who are ready to fund your startup. They’ll cover for your every business needs, right from the funds needed to lay the foundation to marketing the company.
Filling of the Documents
The documents required to register a company in Estonia needs to file electronically, which is applicable for investors in the European region or via notary, and this may take up to three days.
Register for VAT
While, there are no corporate taxes for businesses, but VAT is imposed. So, you’ve to register for VAT at the Estonian Tax and Customs Board, and this is also done online, without the need to move from one government office to another.
Obtaining the License
You’ve to obtain the license with regards to the industry you want to get in. For instance, if you want to launch a cryptocurrency exchange, you have to get the license, similarly, you need a dedicated license for a crypto wallet service.
The Bottom Line
Foreigners have full rights to register a company in Estonia, the registration process is exactly the same with no additional obligations. Additionally, the market of Estonia is expanding, and in the coming years, it is going to scale new highs with each fiscal quarter.