19/12/2021
Small country - big opportunity for business: is Estonian jurisdiction that good?
Estonia – a small state in Northern Europe with a fast-growing digital society, well-developed IT sector, and transparent tax system.🇪🇪
3️⃣ interesting facts about Estonia you probably never knew.
1. Online voting since 2005.
2. The capital of Estonia, Tallinn, has the highest number of startups per capita. That’s why sometimes it is dubbed the Silicon Valley of Europe.
Top startups made Estonia: Skype, Playtech, Bolt, Wise, and Pipedrive.
3. First e-government country in the world which offers e-residency to everybody. Some of the recipients of the Estonian e-residency include Angela Merkel and Barack Obama.
🔷Estonia has the status of «e-country» which means no-bureaucracy and transparent public system with efficiency in vital sectors such as healthcare and education. For example, residents have the opportunity to apply to university, get a medical prescription, register their place of residence or company online. And furthermore, many European Union IT solutions also were made in Estonia.
🔷By offering digital services and fair policy towards non-residents, Estonia became a comfortable place not only for a living but certainly for businesses running with easy and understandable rules. More and more expats feel the advantage of running a business in one of the most progressive and comfortable jurisdictions in Europe.
🔟 strong arguments for jurisdiction in Estonia.
1. 0% rate of VAT for the small companies*(value-added tax).
2. Owner and board members can be non-residents of Estonia (there is no need to have a local resident).
3. No obligation to contribute share capital during the company registration (by the law you have the right to do it up to 10 years).
4. The opportunity to run the company remotely with an e-Residency card. The only access to the Internet is needed.
5. Possibility to buy a movable and immovable property through the company without any taxes.
6. No bureaucracy and corruption risks. All public services are electronic, and most of them have an English version.
7. Opportunity to apply for a visa and temporary residence permit by investments or doing business in Estonia for up to 5 years.
8. Well-functioning balking service sector which mostly based on Swedish, Norwegian, Finish and Estonian capitals.
9. Estonia has international agreements on avoidance of double taxation with 59 countries, including the USA, Canada, UK, Singapore, Switzerland.
10. Licensing is required for a minimum number of business activities. Many of them require just notification.
The high standing of Estonian jurisdiction in Europe gives a possibility to open an account in any European bank almost hassle-free. Moreover, the low costs of registration and company maintaining in Estonia make its jurisdiction reasonable also by financial question.
The progressive and innovative approach to the public regulations and services makes Estonia attractive for the foreigners who would like to start and grow business in comfortable and easy EU jurisdiction with transparent and well-balanced business and public environments.
