Thinking of going into business?
Are you interested in starting a business but not sure how to make the first steps? Building up a company could be hassle-free, especially in one of the world’s most economy-friendly country. In this blog article, we'd like to introduce every possible way to start a company in Estonia.
Starting a business could be challenging as it’s time-consuming and requires responsible efforts. We believe the process of company formation isn't to be critical, however, it’s all about finding the right approach. Every successful business begins with accurate decisions and thrives in a beneficial business environment. And in this way, Estonia is one of the most favorable places for starting a company, offering nearly unlimited commercial opportunities for doing business.
There should be no doubts regarding the advantage of having business in Estonia — advanced fintech and business-friendly economy provide a number of opportunities.
Here are some ways of company registration in Estonia: ● Company registration with an e-Residency card ● Formation of a company by the power of attorney ● Setting up a business by a visit ● An obtaining of a ready-made company
At this point, you can choose the way of most interest and just scroll down to its interpretation.
Company registration remotely with e-residency
E-Residency is a state-issued digital identity providing access to Estonian e-government services and EU business environment for non-citizens. This innovative program allows every willing to establish and manage an EU-based company 100% online.
Steps to undertake in order to set up a business using e-Residency: Establishing a company using an e-Resident card provides an entrepreneur with absolute freedom and promptly makes him a part of the Estonian business environment.
Company formation by the power of attorney
As it's a requirement to have a legal address and a contact person in Estonia in order to start a company, the second option is to open a company by proxy. The process includes finding a legal address as well as an Estonian contact person, submission of all necessary documents in the Estonian language, and paying the state fee of 145 EUR. Same as with an e-Resident card, it isn't required for an entrepreneur to be present in Estonia when registering a business with a help of mediators.
Visiting Estonia to start a company
Coming to Estonia is the fastest way to register a company. That's a standard procedure requiring preparedness of documentation before attending a notary. Upon arrival, you need to possess all the information about your company and fill in the documents required by a notary, which services usually amount to 100 EUR. The state fee is 145 EUR, the same as with the formation of the company by proxy.
Be aware that it's possible to establish a company in one day only if a company has already got a legal address and a contact person in Estonia.
Purchasing of an existing Estonian company
The last available option is obtaining a ready-made company. Such businesses are inactive corporate organizations that have passed the state registration and have all the necessary details for the implementation of their activities.
Purchasing a ready-made/shelf company should be a well-considered decision in order to protect oneself from unreasonable risks. Nonetheless, obtaining an already registered company has certain benefits. Among which: ● Completed process of registration ● Appearance of trustworthiness ● Established reputation
So far, there are 4 possible ways to register a company in the Estonian market. We're certain whatever option you are going for, the Estonian business environment welcomes your company and provides the most favorable conditions for growing your business.