Estonian Company Registration – Basic Information
Where can I register my company? That is a question that’s been debated many many many times and, as far as we can tell, there is no uniform answer.
Best Option for Crypto and Investment Projects?
If you want to register a FORWARD-THINKING company that’s going to become PROFITABLE and you want to do it via the web, then your best option is Estonia. Starting a company there is very easy and cheap: you can do it either online or in person. According to an approximation put forth by a certain governing body, it will only take 30 minutes of your time. The e-Business Register / Electronic registration is the most convenient and swiftest way of starting a company. You won’t have to visit a notary, and there will be no problems with taxes or fees. It is free!
As opposed to writing an exhaustive step-by-step guide on how to open company in Estonia, this post will outline the biggest reasons why people choose this country and list things that you need to know before starting your new firm.
Two Biggest Reasons Why Most New Business Choose Estonia
1. Estonia’s digital economy is exploding and is expected to continue growing.
Of course, any country that provides less strict tax rates to startups gives investors and entrepreneurs much to be happy about. If you’re still undecided and still thinking about where to register a company, the continued economic growth of Estonia’s digital sector has to be taken into serious consideration. The fact of the matter is that Estonia’s digital ecosystem is going through a momentous period of explosive growth, and it has no signs of slowing down. The e-residency program is one of the largest factors in this scenario.
2. Non-residents can apply for a digital residency via the internet.
In order to create a company, you don’t need to go through a huge hassle. You can open a business online, anytime and anywhere in the world. You don’t even have to reside in Estonia to do so. All you need is an Estonian e-Residency card.
Additional Reasons Why Start a Business in Estonia
- Estonia is in the process of being “digitized” and they are working on getting a high-speed fiber-optic Internet connection across the entire country. The country is becoming one of the coolest places on the planet, and they are working hard to get the word out about that.
- There’s an overabundance of qualified workforce. There are no language barriers because most works can freely communicate in either English or Russian.
- Estonia’s current geopolitical situation and their attitude towards the international community makes them a prime option for a startup. With the ever-growing tensions between certain countries, more and more people looking where to register a company select Estonia because they value stability. At the time of writing, choosing China or even Russia might put you at odds with the rest of the world.
Two Important Things You Need to Know Before Company Formation in Estonia
#1. An Estonian address will be required for your company.
The good news is that you can obtain a legal address via the internet. It’s pivotal to choose a valid Estonian address to prove your business’s legitimacy. This address needs to be listed in the government registry.
#2. Estonian e-Residency won’t help you avoid paying taxes.
First off, it’s never a good idea to avoid paying taxes. Secondly: it’s only fair that you are taxed in accordance with the laws of the country that you physically reside in. People mulling over the question of “where can I register my company” oftentimes fall prey to this misconception that Estonia is somewhat of a tax haven. It is not a tax haven, but it does, however, provide both residents and non-residents with very attractive opportunities to conduct business. This includes but is not limited to fully digital e-residency, taxation schemes, and other things we already mentioned in this article.
Two More Important Things You Need to Know
#3. You will need to figure out if the name you picked for your company was already taken.
There are different ways of spelling the same word, there are things like LLC, LTD, and OÜ (derived from osaühing). Most businesses will have no difficulties when it comes to choosing a name that is unique in the country’s business registry. Companies that provide assistance in company formation and tell you how to open company in Estonia oftentimes offer naming and brand development services as well, so there is no actual need to worry if you have a hard time choosing the right name.
#4. You don’t need to speak Estonian at all.
As briefly mentioned before, almost every Estonian speaks English at least at a modest level of proficiency, so you will have no problem understanding anyone. Better yet, the highly competent workforce that is usually involved in crypto- and investment-related projects usually speaks very good English.