Entrepreneurial consultations: company formation, an address and contact person services, accounting, VAT number, etc. specifically in Estonia, in EU.

Category: e-residency

How to start your company with e-Residency in 4 steps

e-Residency allows aliens to set up a company in Estonia remotely by providing online access to government services

1. Get an e-Resident card

You can enjoy the benefits of e-Residency once you have obtained your Estonian digital ID — e-Residence card.

All you need to do at that stage is to submit your application. The process takes place online and is indeed straightforward.

The applications form is available on the e-Residency official website:

You need to prepare some documents beforehand:

  • copy of your verified ID
  • passport-style photo
  • motivation statement
  • Visa or Mastercard

While submitting the application, you will be asked to pay a state fee and choose a pick-up location for your e-Resident card kit. The state fee is 100–120 EUR depending on the pick-up location.

Once submitted, check your email for confirmation and wait for your application’s approval, which usually takes between 4 and 8 weeks.

After receiving positive news, first of all, we congratulate you and kindly remind you to take your ID and pick up the kit strictly by yourself.

2. Take care of legal address and a contact person based in Estonia

It is an absolute requirement to have both in order to set up your company with an e-Resident card.

It is well-known that Estonia is a good place for business as it welcomes every entrepreneur. Estonian legislation proves this fact. Whilst it may sound not very pleasant by its complexity, company registration in Estonia doesn’t take piles of documents. Just make sure to have a legal address and a contact person in Estonia — and bear in mind, we are here to help with both.

3. Choose the name, decide on Management Board, set up accountancy, and figure out the taxation — give it a good start, fill up this form:

4. Grow your business and enjoy multiple advantages of e-Residency!

e-Residency provides your company with freedom. Manage the process entirely online by submitting, signing, and securing all the documents remotely. Make your company global without a hard effort but by taking the proper advantage.

The favorable tax system, unlimited fintech opportunities, and business market full of talents and enthusiasm — go for it and join the community of successful people. We will help you at this very first and the most significant stage.

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Estonia expanding e-residency scheme

The small European nation of Estonia is looking to expand its global influence through an “e-residency” program, allowing anyone worldwide to apply to become an e-resident of the country and set up a company there.

This would mean that people outside the EU could set up an Estonian company over the internet and gain easy access to the European market. E-residents of the Baltic country have access to all the digital government services of a state that prides itself on being a pioneer of e-government.

E-residency must be applied online. Confirmed applicants will then need to pick up an e-residency card at an embassy or pick-up location which currently is in Beijing or Singapore. But, according to Arnaud Castaignet, the head of international public relations of Estonia’s e-residency program, the country is planning to open an e-residency center in Bangkok soon.

“We are targeting Thailand because it is a major tourism destination and Bangkok is a rising startup hub with amazing co-working spaces,” Mr Castaignet said. “Also Thailand, especially Chiang Mai, is the capital for digital nomads, a group that would greatly benefit from our program.”

The scheme is popular in countries like Ukraine, Russia, and Turkey — places that are adjacent to the EU but not members of the common market.

Mr. Castaignet wants to promote the program in Asia, especially with digital countries looking to find a way to open up operations in Europe. He said many companies maintain registration in their home country and use the Estonian e-registry system to open operations in Europe.

“Many emerging countries lack access to financial services and access to venture capital,” Mr. Castaignet said. “By registering a company in Estonia, startups can gain access to EU funds and accelerator programs.”

Registering as e-resident costs €100 (3,492 baht), while registering a company in Estonia costs €190. So far, 58,000 people from 160 countries have registered as Estonian e-residents, registering 7,000 firms. Registration requires a background check, mainly to ensure the applicant is not involved in funding terror or other serious crimes.

Estonia taxes dividends on registered companies but does not tax any profits invested back into the company. In 2018, Estonia made €10 million from the scheme. This year it expects €15 million.

“The program is not really about earning money for Estonia, but about expanding our soft power, especially in the digital world,” Mr. Castaignet said. “We are only a country of 1.4 million people, and this is a way to make an impact far above our size.”

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How to change the Estonian company name in the Estonian business portal?

Periodically, companies may need to change their name, and there can be various reasons for doing so. Regardless of the reason, it is within a company’s rights to change its name. The process for changing the name of an Estonian company can be accomplished through the business registry using an e-Residency card, as well as with Estonian, Latvian, Lithuanian, and Belgium ID-Cards with Estonian and Lithuanian Mobile-ID.

To change the name of an Estonian company, follow these steps:

  1. Visit rik.ee.
  2. Log in to the Estonian company portal.
  3. Select the name of your Estonian company.
  4. Initiate the alteration petition.

To begin, navigate to the “Business name” tab and select the desired new company name. It is advisable to verify that the new name is available. Fortunately, the system automatically checks for the existence of similarly named companies or any registered trademarks under a similar name.

Next, upload the required documentation by accessing the “Add Documents” tab. This documentation includes the updated articles of association of the company and the shareholder decision of the meeting, which must be digitally signed. In most cases, the signature of one member of the management board is sufficient, but additional approval may be necessary if your company’s articles of association include this clause in its representation rights.

To update the articles of association, copy the existing version from the business registry and paste it into a Word file. Make the necessary name changes and convert the document back to a PDF file. Sign it with the e-Residency card and upload the signed documents to the business registry.

Following these steps will successfully change the name of an Estonian company.

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