Starting a Business in Estonia? Steps You Need To Follow
Estonia, which is often called as e-Estonia, is the most technologically advanced country in the world. With almost 90% of the government services being carried out online, Estonia has grabbed the eyes of the tech-entrepreneurs, globally. In fact, since the establishment of Anti-Money Laundering and Terrorism Finance Act, and the introduction of the concept of e-residency in December 2014, Opening a Company in Estonia has become a lot easier and secure as well.
Here in this post we’ve rounded proven effective tips when starting a business in Estonia
1. Apply For e-Residency
The very first step towards starting up any business is to get a name for the business and define what the business is going to sell. Once you have that sorted, you can proceed with registering your company. Registering a company in any country requires you to be a citizen of the country.
Thankfully, the government of Estonia has already sorted this problem out for global entrepreneurs. Applying for e-residency in order to start a company in Estonia is the very first step towards your tech-giant establishment. We at ‘Company in Estonia’ (www.consulting24.co) have already helped 70 entrepreneurs from around the world to become an e-resident to the Republic of Estonia. Becoming an e-resident of the Republic of Estonia gives you the freedom to operate your business in Estonia from any corner of the world.
2. Register Your Company
The next step towards opening your company in Estonia is to register your company. E-Residency allows you to register any type of company in Estonia regardless of the company’s structure and operations.
Evidently, since the AML/TFA bill has been passed by the authorities, and after the legalisation of cryptocurrency, businesses that deal in cryptocurrency and blockchain projects are the ones gaining popularity in the country. If you are considering to start your cryptocurrency business or your blockchain project in Estonia, we must say, this is the best idea that you’ve had in your entire professional life.
4. Begin Your Operations
Now that you have completed all the necessary documentation and fulfilled all the requirements for starting your business in Estonia, you can begin with your operations. And the best part is you can operate it from anywhere in the world. You don’t need to be present in Estonia.
Whatever your business is, you can open a company in Estonia and operate it with the help of technology. If crypto is your taste, the Estonian government has already paved the path for you. All you need to do is get in touch with a consultancy that can take you through the process.
3. Apply For Licenses
Importantly, to begin with, any cryptocurrency business would need two licenses. One for an e-wallet that can be used to store make payments or handle the dealings in cryptocurrency. The other one is more important since cryptocurrency is not a legal form of tender in Estonia, you may need to use your fiat currency to purchase cryptocurrency. In other words, the second license enables the holder to convert fiat currency to cryptocurrency, crypto to fiat and crypto to crypto.
Smart Advice: Before you even try getting into these matters yourself, getting some professional help from a Crypto Consulting Service can ease out your troubles.