In fact, having a legal address and a contact person residing in Estonia are prerequisites for the establishment of an Estonian company, particularly when the board members are based outside of Estonia.
These requirements are compulsory in order to comply with Estonian business laws and regulations.
All individuals with an Estonian personal identification code (including e-residents) can open an entrepreneur account.
A business account is a good alternative if you don’t want to own a company. Taxes are calculated and paid automatically.
When using an entrepreneur account, the person cannot be a VAT liable person or operate as a self-employed person (FIE) in the same or similar area of activity.
If a customer is currently registered with the Unemployment Insurance Fund as unemployed and opens an entrepreneur account through the bank, this information will reach the Unemployment Insurance Fund and the customer’s unemployed status will end, regardless of whether the customer has received any funds on the entrepreneur account.