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How Do You Start Up Your Own Business In Estonia

Are you considering starting your own business in Estonia? This beautiful Baltic country has emerged as a popular destination for entrepreneurs and startups, thanks to its favorable business environment with 0% corporate tax, innovative ecosystem, and strong support for new ventures. In this guide, we will provide you with essential information and key steps to help you navigate the process of starting your own business in Estonia.

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Reasons starting up your own business focused on crypto in Estonia.

As stated, starting a crypto business in Estonia is seamless because the cryptocurrency sector is regulated in the country. Estonia is among the countries with cryptocurrency laws and regulations, and you will receive a digital wallet and exchange services license.

Most importantly, the license doesn't require any deposit, and the license permits investors to issue their native token, operate exchanges, trade-in all tokens, and support virtual wallets.

When trading, there is no VAT added, and corporate tax in the country is 0%. Estonia is considered as one of the top ecosystems for business start-ups.

The licenses are affordable, costing around €25,000, including risk appetite documents and internal AML procedures.

The license application process is quick and takes only up to 60-120 days, and you have your business license. You can equally on-board clients from across the globe because of the licenses permit.  

Also, since the country allows non Estonians to hold e-residency, anyone can establish an Estonia business. The digital identity will enable one to access the business registry and government services and the management of business online.

Estonia cryptocurrency services provider business license

There is a virtual currency service provider license in Estonia, which covers the virtual wallet services allowing businesses to offer both hot and cold digital wallet services. Under this, the business will generate encrypted keys for clients and keep them from storing, maintaining, and transferring cryptocurrencies.

Also, the license covers the changing of fiat currency into cryptocurrency and the crypto to fiat exchange. Similarly, it permits cryptocurrency against cryptocurrency transactions for different coins.

With the licenses, one can issue a native token, offer wallet and exchange services, IEC, OTC, trading with utility token, and sell BTC through credit/debit card and bank transfer.

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Our Clients 

License cost
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  • 3500€ - The total cost for company registration, authorized person 1-year fee, and notary services;

  • 5000€ - AML/CTF documents; 

  • 1500€ - The cost for banking introduction and registration of share capital up to 125,000€ is 1,500€.

  • 15 000€-  The license application fee is 5,000€, and there is an additional government fee of 10,000€ for the license application. This cost includes the preparation of various documents such as the business model description, AML documentation, risk management documentation, and board member responsibilities description. In total, the expenses for the license application amount to 15,000€.


Total: 25000€

Extra service:

 

  • Hiring a local director incurs a recruitment fee of 4,000€.

  • Hiring an AML (Anti-Money Laundering) expert also incurs a recruitment fee of 4,000€.

  • AML compliance has a minimum monthly cost of 2,500€. It's important to note that one AML expert can only serve a maximum of one company as per legal requirements.

  • Having a local director has a minimum monthly cost of 2,500€. Please note that a director can only manage a maximum of two companies as per legal regulations.

  • The minimum monthly cost for an office space is 600€.

  • Outsourcing an auditor for monthly and yearly audits requires a fee of 4,000€.
     

Please consider these additional costs when planning your budget.

Estonia Vs Lithuania

Venturing into the Dubai crypto trading market? Allow us at Consulting24 to guide you! Our deep regulatory understanding and vast experience make the process of obtaining a Dubai crypto trading license a breeze. We're here to walk you through every step, ensuring your business is set for success. Visit our website to learn more about how we can streamline your journey.

Consulting24 was founded with a shared vision and a deep understanding of the transformative power of blockchain and cryptocurrencies. Our team of dedicated cryptocurrency consultants is committed to demystifying the complexities of the digital asset space.

One area we specialize in is assisting entrepreneurs who are interested in starting up their own business in Estonia. Estonia has emerged as a favorable destination for blockchain and cryptocurrency startups due to its supportive regulatory environment and forward-thinking approach to digital innovation.

At Consulting24, we provide comprehensive guidance and support to entrepreneurs navigating the process of establishing a business in Estonia. We offer expertise in incorporating companies, obtaining the necessary licenses and permits, and ensuring compliance with local regulations.

We understand that starting a business can be daunting, especially in a foreign country. That's why our team is here to simplify the process and provide you with a clear roadmap to success. From helping you choose the right legal structure for your business to assisting with banking and payment solutions, we cover all aspects of setting up your own venture in Estonia.

Mardo Soo, CEO of Consulting24, start up your own business in Estonia
CEO - Mardo Soo 
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Additionally, we offer tailored advice on leveraging blockchain technology and cryptocurrencies to enhance your business operations. Whether you're considering accepting digital currencies as payment, exploring tokenization opportunities, or venturing into the world of NFTs, our consultants will guide you through the intricacies and help you make informed decisions.

Our aim is to make the incorporation of blockchain-based solutions and the establishment of your business in Estonia simpler and more accessible. With Consulting24 by your side, you can confidently embark on your entrepreneurial journey and embrace the opportunities presented by the evolving digital landscape. Starting up you own business in Estonia NOW.

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