26. February 2016

E-Residency and company formation in Estonia

 

e-residency

E-Residency in Estonia

Estonia is the first country in the world to offer E-Residency to foreigners. Becoming an e-resident provides you with a physical smart card (digital-ID), which allows you to use Estonian public and private services online. It also provides you with the ability to use digital signatures to digitally sign documents and e-mails and provides a secure method for encrypting files using the smart card, similar to the way that Estonians currently use the Estonian ID card. Public services include the use of the commercial register for creating and administering Estonian companies online.

How can Estonian E-Residency initiative be good for you?

  • Establish Estonian companies online via Company Registration Portal
  • View your tax accounts and submit online tax returns via the e-Tax Board
  • Access your e-banking system in Estonian banks (to make payments etc)
  • To sign digitally any official document in Estonia
  • Use the smart card to encrypt e-mails and files for free
  • Use Estonian public services via the state portal eesti.ee

How can I apply for E-Residency?

You can do it electronically in the official Estonian e-Residency site here.

What does it cost to open company in Estonia?

  • State fee for e-Residency – 100 € (+ credit card processing fee)
  • State fee for company registration in Estonia: 190 €
  • Travel costs associated with picking up your e-Resident ID-card at the location you select and conducting required banking procedures in Estonia

You can read more about opening company in Estonia and legal requirements here.

How we can help?

We offer:

  • E-Residency application support
  • Tax consultations (E-Residency does not have direct influence to Tax Residency)
  • Company formation and bank account opening
  • Accounting and bookkeeping services

Because of the Anti Money Laundry Law many new E-Residents have had problems with bank account opening in Estonian banks. Because of that Estonian banks require more information about the future business and the owners of the company.

Upon your request we will help you to take care of all bank compliance formalities, allowing you to take control of the company bank account and start using the internet banking facilities.

Our E-Residency packages and fees

Package 1: 300 EUR (one-time fee)

Our services include:

  • help with E-Residency application
  • company formation service
  • help with bank account opening and VAT registration
  • Accounting services for 1 year (including up to 20 transactions per month and 5 payroll calculations. If you require additional services, we will make a taylor-made offer)

Package 2: 500 EUR (one-time fee)

Our services include:

  • help with E-Residency application
  • Ready-made company with bank account
  • help with VAT registration
  • Accounting services for 1 year (including up to 20 transactions per month and 5 payroll calculations. If you require additional services, we will make a taylor-made offer)

Difference between the packages is that in Package 2 we open a company and bank account for you and sell you the shares. All rights will be transferred to new owners & board members.

Get in touch with us here

This post is also available in: Estonian