Services in Estonia
Business Licensing in Estonia
There are various financial licensing opportunities for sound business models in Estonia.
Startups in fields such as:
- Forex & Securities brokers
- Payment services providers
- E-money institutions
- Blockchain innovations
Can all benefit greatly by choosing Estonia as a country in which to apply for licensing.
Innovative, Fast & Multilingual
Estonia is a home to 12 international and local banks, which offer commercial, retail and investment banking services for clients inside the country as well as abroad.
Banks in Estonia offer:
- Multi-currency bank accounts
- Payment cards
- International wires
- Advanced online banking
- Multilingual support
Modern, Transparent & Inspiring
Estonia has been established as an environment where fintech startups and other international businesses looking to expand into the single European market can thrive. Estonia has already become a home for many software development companies, payment processing businesses, blockchain developers and innovative peer-to-peer lending platforms.
Estonia has many attractive features to offer:
- Low business operation costs
- A beneficial tax system (0% on reinvested profit)
- Minimal bureaucracy for ease of doing business
- A simplified and fully digitised taxation system
- Advanced banking
- A highly qualified workforce
What is e-Residency?
Identification, Verification & Encryption
E-Residency is an electronic identity issued by the Estonian government, and it is open to everyone. It allows the e-Residency holder to be identified and it can be used to electronically sign documents and conduct business transactions. E-Residency is an encrypted and secure digital service to facilitate your entrepreneurial vision in Estonia. Please note that e-Residency is not related to citizenship and does not give the holder an automatic right to reside or enter Estonia.
Access & Transparency
Estonia can become a launchpad for your global entrepreneurial ambitions and it offers a robust ‘sandbox’ environment to enable a safe and secure start. E-Residency will be a cornerstone of the foundation of your business in Estonia as it allows you to:
- digitally sign and encrypt contracts and official documents
- administer your Estonian company from any country since most of the state services and filings are available electronically
- access financial services such as banks and payment services providers
- submit your company tax returns online
- authenticate your identity via the Internet
How to apply
We advise all our clients interested in conducting business through an Estonian company to additionally apply for e-Residency in order to be able to handle all company matters and filings electronically.
We will take care of all procedures to ensure the registration of your Estonian company. Not only that, we will assist you with opening a bank account and help you organise your visit to Estonia to meet your bankers.
Let us know if you would like any more information about e-Residency and business opportunities in Estonia.
Alternatively you can apply for e-Residency today: https://apply.gov.ee
Starting a Business in Estonia
Registering an Estonian Company
Establishing an Estonian Company in Few Hours
We will take care of all company registration formalities and provide you with a registered business address in Estonia. Once your company is registered and all documents are ready, we will instruct on how to take advantage of your e-Residency ID-card capabilities to effectively manage your company. We can also help you with the registration of your company as a VAT payer at the Estonian Tax and Customs Board.
Control & Access
We advise every one of our clients starting their business in Estonia to apply for e-Residency. It provides secure access to hundreds of services from the Estonian e-government and allows digital authentication from governmental institutions. This means most filings can be carried out electronically with no need for notarisation or help from third parties.
The application cost is 100 EUR. Once your application is approved you will need to collect your e-Residency smart ID-card from Estonian foreign Offices or the Police and Border Guard Board service points in Estonia. This must be done in person.
More on e-Residency: https://e-resident.gov.ee
E-Residency Application Form and List of Estonian foreign offices: https://apply.gov.ee
Opening a Bank Account
Business Tools & Operations
Once your company is ready it is now time to open a corporate bank account in Estonia. We will introduce you to local banks and schedule a meeting. Once your meeting with the bank is confirmed we will be glad to invite you to come to Tallinn to meet bankers and finalise the account opening.
Next steps to consider:
- applying for a licence
- recruiting IT-specialists in Estonia
- opening a physical office in Estonia
What makes Estonia a unique destination for international business and fintech startups?
– 2007, The world’s first election via the Internet
Estonia held the world’s first electronic parliamentary election via the Internet. This became possible due to the rapid development of the Estonian “e-government” policy and its excellent IT infrastructure.
Estonia has supported and developed key public infrastructure as well as implementing a highly successful project of national electronic ID cards, which allows the remote secure identification of card holders including electronic signature authentication, which is legally binding, having the same status as hand-written signatures.
– 2013, 95% of all medical prescriptions are e-prescriptions
95% of all medical prescriptions in Estonia are issued electronically. E-prescriptions were made possible thanks to the development of Estonia’s cutting-edge e-Healthcare system. E-prescriptions are a part of a paperless and centralised system for handling medical prescriptions. Pharmacies locate prescriptions in a central database and identify the patient via a smart ID card.
– 2016, Block-chain in healthcare
The Estonian e-Healthcare Foundation announced a partnership with Guardtime to develop and accelerate block-chain based security, integrity and transparency of healthcare records in Estonia. A distributable ledger of healthcare records will allow a forensic-quality audit trail of all health records to be implemented and thus ensure data integrity as well as the exclusion of data loss.
– 2016, 95% of Estonians submit tax declarations electronically
95% of Estonian citizens use the e-Tax Board to compile and submit tax declarations. The vast majority of tax declarations are already pre-filled. The financial information of taxpayers is automatically submitted by Estonian banks into e-Tax Board databases and all tax declarations are populated with datasets. Taxpayers review existing information and submit tax returns electronically using ID card identification technologies.
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