E-residency is the Estonian governmental program which helps digital entrepreneurs to manage business online. Since this governmental initiative entered into force, many businessmen that have obtained e-residency indicate that Estonia became a perfect destination for doing online business thanks to Estonian digital friendly legislation.
What are the benefits of an E-residency program for company incorporation?
In short, the benefits of E-residency program for your company are:
- Online company formation and management;
- Online accounting;
- Online operations;
- Secure signature with digital ID card;
- Access to European business providers;
- Low cost fee for formation and management.
With the Estonian e-residency you get a government-issued digital identity (an actual card). With the digital ID, you can incorporate an Estonian company. The whole process is done remotely, so you do not need to visit Estonia. This program is available for citizens from any country.
The E-residency program is largely helpful for companies to deal with banking and accounting, as all tax and accounting issues are dealt entirely online.
E-residency allows you to get IBAN which is a European payment banking system with bank accounts in Euro, so that you can offer your services and products within the European market. Many businessmen can set accounts in European payment systems to make quick transactions with European partners.
If you have any business connections in Estonia, you can open a bank account in Estonia with Swedbank, LVH or any other bank.
You can have access to Amazon and eBay seller accounts on behalf of your Estonian company, which otherwise cannot be accessible from some countries. Besides, you can open PayPal, TransferWise and Google merchant accounts.
What are the Estonian E-Residency requirements?
To apply for Estonian E-residency you need:
- Digital personal picture (as per governmental criteria)
- Credit card for online application payment
The Estonian E-Residency fee is €100.
Can I travel to Estonia and the EU with e-residency?
This is a common question, because many people think that e-residency is similar to actual residency. However, e-residency does not allow you to stay or live in Estonia or in other European Union member states.
What is Estonia crypto license?
Estonia is one of a few countries that established cryptocurrency-friendly legislation and allowed Estonian companies to obtain licenses for certain business activities with crypto. These two licenses include a virtual wallet operating license and exchange license.
As a result, Estonia is widely recognized as the country with advanced digital solutions for crypto business.
What problems can I have with Estonian company?
Similar to other jurisdictions, you will still need to do accounting for your company. Having an Estonian company does not automatically mean that you need to pay taxes in Estonia. All matters in connection with taxation are determined based on your country of residency and based on applicable tax treaties. So, keep in mind that you need to obtain a proper consultation on tax matters.
To register an Estonian company, you need to have a registered address in Estonia.
Though you can do accounting and find an address in Estonia by yourself, you can use the services of an agent who will help you with these issues.
Ecompany.ltd provides various online business solutions, including online accounting, legal services, company formation, registered address and many more.