All You Need to Know About How to Start a Company with e-Residency
You've likely been inspired by the numerous success stories of entrepreneurs who became eResidents and launched their companies on a global scale. Now, as you've already obtained your eResidency card and are ready to get your Estonian company started, we're here to guide you through a solution crafted specifically for this purpose. This solution aids entrepreneurs worldwide in beginning their entrepreneurial journey with confidence and clarity.
The Entrepreneur Pro Plan simplifies the process and supports entrepreneurs stepping into the Estonian e-Residency framework. This carefully designed plan offers a easy-to-follow process to register your company, including assistance with obtaining a VAT number and support in opening a borderless Wise business bank account. Furthermore, it ensures your business is grounded in Estonia, providing a business address, mail handling, and an authorized contact person service, all within a monthly subscription framework.
The initial setup includes a one-time state fee and monthly subscriptions covering essential operational needs (business address, mail handling, and an authorized contact person service), with a detailed guide through each phase, ensuring you're not just starting a business but are well-prepared for the journey ahead.
A Closer Look at the Entrepreneur Pro Plan
What's Included:
Company Registration
1 Shareholder
VAT number registration
Bank Account Opening Support
Business Address
Mail Handling
Authorized Contact Person Service
Company Registration State Fee of €265
Service Fee: €300 including:
Monthly Subscription: €35 (incl. VAT at 22%)
One-Time State Fee: €265
Company and VAT Registration Fee (for eFinance registered members): €0
The service fee is composed of two parts: a one-time company registration state fee of €265 and the initial monthly subscription payment of €35 (incl. 22% VAT). The monthly subscription includes business address, mail handling, and authorized contact person services.
Therefore, your initial payment will total €300 (this includes the state fee and VAT at 22%). From the next month onwards, there will be a recurring payment of €35.
How does the process look?
To begin, subscribe to the plan and complete the company registration form on our website or through the PILV app. You'll receive an email notification to start the registration, along with a detailed explanation of each step.
Before starting the process or while filling out the company registration form, you need to decide on:
Company Name
Choose your company's business activity code in the EMTAK classifier. Your company may engage in various business activities, and it's permitted to do so as much as you wish. However, for registration, you will need to choose the main one. Later, if your company's main business activity changes, you don’t need to notify the registry about that. The main business activity code of your company will be automatically updated after your accountant processes your company's annual report, declaring revenue in every type of business activity. The business activity code with the highest revenue for the annual report period will be considered the main one and updated if a change occurs. Review the classifier to find your business activity code now: EMTAK 2008
Decide on Share Capital Amount: It's advisable to set a share capital amount that reflects your initial business needs, such as 1 euro or any figure between 1 euro and 2500 euros that aligns with your startup's operational costs. This amount will need to be transferred to the company's account as soon as the company is established, and the business bank account is opened.
Procedure for the Contribution of Share Capital in Estonia as of 01.02.2023: A private limited company (known as osaühing or OÜ) has its share capital divided into shares. It is liable for its obligations with all of its assets, meaning a shareholder is not personally liable for the company's obligations. The required minimum share capital for an OÜ is €0.01 per shareholder. Whereas it was previously possible to defer the share capital payment, as of the 1st of February 2023, you must confirm the share capital contribution when registering your company. This confirmation will be made by each shareholder through the e-Business Register when registering the company. When setting up a private limited company, founders have the freedom to decide how much capital they need based on the planned activities and actual capital needs of the company.However, founders are liable for any damage caused by incorrect assessments of contributions or start-up costs. If the decided share capital is less than 2,500 euros and the bankruptcy proceedings are terminated without declaring bankruptcy, the court may, at the request of the interim trustee, order the shareholder to pay an amount up to 2,500 euros if the trustee's fees and expenses cannot be covered by the other assets of the debtor.
Ready to get your company started?
Starting your business with Estonia's e-Residency can be complex, but you don’t have to do it alone. Think of it as having a knowledgeable friend in the business, someone who's there to take the confusion and complexity out of the equation. We're all about making things straightforward and manageable, offering you practical support with a professional touch. With us, you're not just getting a service; you're gaining a reliable partner who cares about your success.
The Entrepreneur Pro Plan is here to simplify things.
Remote, Not Alone