Why is it profitable to register a company in Estonia in 2019
The Republic of Estonia is a state located in Northern Europe. The country borders with Russia, Latvia, and has a sea border with Finland. Estonia is part of the EU, NATO, is a party of the Schengen Agreement. Registering a company in a country has many advantages; however, some nuances are required.
Features of company registration in Estonia
The registration process is relatively simple, takes an average of two weeks. First you need to collect a package of documents - to get answers to questions regarding the collection of papers, their submission to the relevant authorities, you can contact the IT - OFFSHORE specialists. We provide legal assistance and advise on the opening of firms.
The main list of securities:
• A copy of the passport of the person, address, contact details (e-mail);
• Several options for the name of the organization, the mail of the company that will be available;
• Information on the activities of the organization, board members;
• Application to the commercial register.
There are many advantages of opening a company in Estonia. Thus, the tax on reinvested earnings is 0%. That is, you can get a company that practically does not need to pay tax payments. The company can be owned by non-residents of Estonia and the European Union.
Other advantages of creating a business in this Baltic country:
• It is not required to immediately pay in the authorized capital when registering;
• There is an opportunity to get a business visa;
• The country has entered into a double tax treaty with many countries;
• Developed digital infrastructure;
• Convenient geographical location;
• You can get a license and conduct a cryptocurrency business;
• The company is registered in a short time.
The main disadvantage of registering a company is a problem with opening a bank account. Not always the presence of e - residency, a license for a cryptocurrency business gives a guarantee of receiving an account at a bank in Estonia.
Opening an account in a financial institution
Not all local companies can open a bank account. Basically, this is due to the fact that the company is engaged in activities related to cryptocurrency, then its maintenance is considered the most risky. Another reason - the activities of the organization is not related to jurisdiction.
How to increase the chances of opening an account:
• The company must have its own website with data on the activities of the organization;
• The organization should have its own office in Estonia;
• The company must have employees with appropriate education;
• The company has contracts, it cooperates with other legal entities.
An important factor to consider when opening an account is cooperation with local customers. If the company has no partners in Estonia, the account may not be opened to non-residents and residents.
At the same time, it is possible to open an account for a trading company in almost any country that can open accounts for companies in the European Union. However, not all banks cooperate with non-residents. In addition, you will need to confirm the legality of the origin of funds. An alternative to billing is the use of payment systems.