A ready-made company with bank account in Estonia
Service: Ready-made company with an open bank account in Estonia
The Republic of Estonia is a state located in Northern Europe. The country is a member of the UN, the EU and NATO, as well as a member of the OECD. It is profitable to buy a ready-made company in Estonia, as the state is characterized by a developed economy, there is an opportunity to enter the international market, attractive conditions for the development of entrepreneurship have been created.
The main types of legal form
Before buying a ready-made company with an open account or before registering a business from scratch it is recommended to get acquainted with the main incorporation forms. One popular organizational-legal form is a joint-stock company or AS. The form is relevant if there are plans to register a large company with many shareholders.
It is possible to open a partnership with limited liability. This form is suitable for those who plan to open a medium or small business. It is possible to create a non-profit association if there are plans to carry out activities that do not make a profit. Such associations can conduct entrepreneurial activities in order to carry out the statutory goals.
Features of company registration
You can buy a ready-made company in Estonia with an open bank account or start registering from scratch. The first option is most relevant for those who plan to start operating immediately and make deals.
To open a company, you need to collect a number of documents. You will need a copy of your passport and residence address, contact information, a description of the activities, information about the members of the board. Be sure to draw up a few unique names for the firm.
The company must have a website with full information about the activities and a real office, employees who perform their duties. You can open an account with a local bank only if you can prove a real presence in the country - you need to confirm the cooperation with local customers and suppliers. Contact our specialists at IT-OFFSHORE for more details about company registration in Estonia in 2021.
The tax climate in the country is attractive for business. The basic rate of VAT is 20%. In some situations, the rate can be 9 or 0%. Since 2000, the levy on retained earnings is 0%.
The personal income tax levy is 20%. The social tax rate is 33%. Dividends are not subject to the withholding tax. If taxes are not paid on top of the levy, interest of 0.06 per day from the day following the day the levy should have been paid.
Pros and cons of starting a company
One of the main advantages of registering a company in Estonia or buying a ready-made business - the income tax is 20%, but is paid when withdrawing dividends. There is an opportunity to profitably optimize taxation. At the creation of the company the founder and director can be the same person. There are no requirements for the minimum amount of share capital.
The country is located in the EU, there is the possibility of international business development. The country has a well-developed infrastructure; many actions can be carried out electronically from a distance.
How to open an account
To open an account in an Estonian bank a large package of documents is required. It is necessary to prepare a company questionnaire and agreements with Estonian partners. Each founder and board member has to write an autobiography.
It is necessary to have a brief business plan for the planned activity. Financial projections might also be required. Some banks may require other documentation in addition.