The first stop for Estonia e-Residents service could be our site https://e-resident.gov.ee/faqs/business/ You can find basic information and contacts on establishing a company and possibilities to use e-residency smart card.
Private Limited Company (OÜ or Osaühing in Estonian) is the most popular type of business entity set up by foreigners in Estonia. This type of business has a minimum share capital requirement of € 2,500, which does not necessarily have to be transferred before beginning operations with the company. You can also use the share capital once it’s been transferred to the company’s bank account, for business activities.
In this case, the process would be as follows:
- Apply for the e-Residency digi-ID. You can do this here: https://apply.gov.ee/
- Contact a business service provider. You will need a business address to register a business in Estonia. We highly recommend using the services of the Virtual Office Service providers, who can help you with obtaining a legal address for your business (if your business will not be physically located in Estonia). They also provide other services starting with help registering your company for accounting and legal services. List of the Virtual Office Service Providers is available here: https://e-resident.gov.ee/run-a-company/#Business_services Most e-residents choose a business service provider for help with things like incorporation, accountancy and running a virtual office. The typical monthly spend is around €60 to €100, which represents good value-for-money compared to the cost of these services globally.
- Log in to the Company Registration Portal (http://www.rik.ee/en/company-registration-portal) and establish your company online. The state fee for that is € 190.
- Apply for a license or register an activity at the Register of Economic Activities. Depending on the type of business, different licenses are required, and sometimes merely notifying of an economic activity is enough. More information about this can be found here: https://www.eesti.ee/eng/services/business/load_ja_registreeringud
- Apply for a business bank account (you have 3 options):
- Apply for an Estonian bank account for your new company. Currently, you’ll need to do this in Estonia and physically visit a bank office. Please note that e-Residency does not guarantee a bank account. The decision to extend or deny banking services to an e-resident is made at the sole and absolute discretion of our partner banks, which have the right to ask for additional information. Due to increased demand, there have been recent changes to the way e-residents can open a business bank account in Estonia. We currently recommend you contact a business service provider if you wish to open a business bank account for your Estonian registered company using e-Residency. Their contacts are available here: http://e-resident.gov.ee/run-a-company/ Also, please read our article about the current situation on applying for an Estonian bank account: https://medium.com/e-residency-blog/our-top-priorities-for-e-residency-are-banking-banking-banking-21e319a45088 or
- Apply for a Holvi business account online. Holvi is an alternative to a bank account. They offer a business account with a credit card and access to online payment service providers. Information on Holvi for e-Residents is available here: https://about.holvi.com/e-residents/ or
- Apply for a foreign bank account for your Estonian OÜ.
They also recommend you to read their blog: https://medium.com/e-residency-blog/heres-how-you-can-create-an-eu-company-with-eu-banking-anywhere-on-earth-cbba47386489
They would also strongly advise us to reading either of the two resources: the Investment guide at http://www.investinestonia.com/en/investment-guide or the more official
https://www.eesti.ee/eng/topics/business/ettevotte_loomine. The latter also contains explanations about the different kinds of business entities.
I am interested in working in other EU countries like Slovenia or Austria. Can I do business in other EU countries with Estonia e-Resident?
It is possible to register a branch for your Estonian company. In order to register a branch in another country, you would have to consult the authorities or advisors in this country. For example you can find the primary information regarding the business environment and procedures and contacts from our State Portal https://www.eesti.ee/eng/ there is a list of other similar sites in EU available here: http://ec.europa.eu/internal_market/eu-go/index_en.htm, Slovenian business-related information can be found here: http://eugo.gov.si/ and information for business in Austria here: https://www.eap.gv.at/index_en.html
They highly recommend using the services of the Virtual Office Service providers, who can help you with obtaining a legal address for your business in Estonia (if your business will not be physically located in Estonia). They also provide other services starting with help registering your company to accounting and legal services. List of the Virtual Office Service Providers is available here: https://e-resident.gov.ee/run-a-company/#Business_services.
You can seek information from e-Residency support for all queries related to the programme and application process, although business consultation and legal advice can only be sought from private providers, such as those on our recommended list of e-Residency business services providers.
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