Registering an IT company in Estonia, as well as opening an account with an Estonian bank, is one of the most attractive solutions in 2020.
Estonia is an independent country, located in the north of Europe, occupying the eastern coast of the Baltic Sea. The capital is Tallinn. The largest cities are Viljandi, Pärnu, Narva. A national language is Estonian. A monetary unit of the state is the euro (EUR).
Estonia is a member of the European Union and the Eurozone, the WTO, a member of the Schengen Agreement.
Benefits of Estonia
The state has a competitive market economy, is famous for its high standard of living, as well as the presence of a powerful base of advanced technologies.
Among the most developed sectors of the economy, the information technology industry dominates. Every year, the number of people, wishing to register an Estonian company for developers of games and mobile applications, is growing steadily.
Among key advantages of opening a startup in Estonia, especially in the field of IT technologies, the following should be highlighted:
- A thriving economy and the dynamic development of a digitalization system;
- A low unemployment, as well as an almost complete absence of corruption;
- A focus on attracting foreign capital;
- The most comfortable environment for the development of IT projects, as well as the presence of many interested investors;
- Highly skilled workforce;
- The ability to open and develop a business, as well as to hire personnel in a convenient remote mode;
- The presence of more than 50 DTA agreements with countries around the world;
- 4 large free economic zones (Paldiski, Valga, Sillamae, port of Muuga);
- A loyal tax regime (a zero corporate tax rate, before reinvesting profits in the enterprise);
- A simplified registration scheme.
You should definitely consider an option, for example, to open a company for developers of games and mobile applications in Estonia.
To choose a legal form
Those, who wish to open an Estonian IT company remotely, will, first of all, need to choose the most suitable form of business, in particular:
- a Joint Stock Company (AS);
- a Mutual Partnership (OÜ);
- a Limited Partnership (PVÜ);
- a Representation (F);
- a Branch (E).
The most popular legal form among the above is a Mutual Partnership (OÜ), which operates on almost the same principles as a Limited Liability Company. If you decide to register a company for developers of games and mobile applications in Estonia, then you should opt for this legal form.
Conditions of opening a business
For those, who are going to register an Estonian IT company remotely, this list of requirements is provided:
- A unique name of the enterprise (at the end the selected legal form is indicated);
- A number of directors: at least 1 (an individual/company, a resident/foreigner). The director may act as a shareholder;
- A number of shareholders: at least 1 (an individual/company, preferably a resident of the European Union or Switzerland);
- A minimum authorized capital is 2,500 EUR;
- The presence of a registered legal address and a local agent;
- An open corporate account with a bank in Estonia;
- A submission of financial statements is required.
A registration procedure
If you are interested in opening an Estonian company for developers of games and mobile applications, then you will need to prepare the following documents:
- Beneficiary's passport + copy;
- A reference to confirm the place of residence;
- 3-5 options for the name of the future company;
- A detailed description of the type of activity of the company;
- Beneficiary's contacts (email);
- A power of attorney (for the representative of the company in the selected jurisdiction);
- Data on directors (excluding shareholders);
- E-mail for sending originals of registration documents;
- E-mail of the enterprise.
Opening a bank account in Estonia
Those, who intend to register an IT company in Estonia or to set up a company for developers of games and mobile applications in Estonia, will, also, need to open an Estonian bank account. It is worth considering the fact, that the prompt opening an account for a company in an Estonian bank is possible, if the company operates in this jurisdiction. If the company specializes exclusively in export operations, then opening a bank account will be somewhat more difficult.
To solve this issue, we recommend you, first, to consult with our specialists, regarding the opening of a bank account. Our staff will carefully analyze your situation and help in choosing one of the most suitable European banks.
Also, as an alternative, you can open an account in an electronic payment system, which will be even more convenient, if you plan to open an Estonian company for developers of games and mobile applications. The availability of a suitable payment system will allow you to easily and quickly get an international bank account number (IBAN) and start using your usual banking services (make money transfers, save on transactions) in a convenient remote mode.
A price list for opening an IT business in Estonia
If you are interested in registering an Estonian IT company, we recommend you to familiarize yourself with this price list:
- The cost of registering a business is from 1110 EUR;
- A legal address is from 250 EUR/year;
- A local agent (if necessary) is from 450 EUR/year;
- Opening an account with a bank or electronic payment system is calculated on an individual basis.
As regards the tax regime, with respect to the Estonian company for developers of games and mobile applications, it is a quite loyal: the complete absence of corporate tax until its distribution, as well as the zero rate on income received outside the Republic of Estonia.
How to open a startup-project in Estonia?
To register an Estonian IT company remotely and quickly, refer to services of our qualified specialists. We will provide you with professional accompanying services for registering a business in Estonia, we will select the most optimal option for opening a corporate account in a payment system during the consultation process, as well as draw up all necessary documents.