Estonia is a country with one of the most attractive investment climates among European countries for opening a company in Estonia. Entrepreneurs from the Russian Federation, the EU and the countries of the former USSR have long appreciated the innovative legislation in the field of high technologies fin-tech, zero tax rates and the opportunities provided by a jurisdiction that is not included in any of the ‘black’ world lists. A company in Estonia, including one founded by non-residents, can trade with partners and sell products in Europe without intermediaries, engage in cryptocurrency business, Blockchain, etc.
The country, which joined the European Union in 2004, has signed agreements on the avoidance of double taxation with more than two dozen states, including the United States and Great Britain. In addition to tax benefits, a company in Estonia has other advantages:
- No need for monthly reporting – taxable firms submit it once a year;
- There are no requirements for statutory audit – it is carried out only in relation to some companies (with a turnover of 1.6 million euros, the number of employees from 24, assets from 800 thousand euros, etc.);
- There are no restrictions on the amount of the authorized capital, and it can be formed within a year or even longer;
- Convenience of setting up a case and interacting with government agencies – Estonia has an e-Governance system and most of the formalities are carried out using electronic means;
- One director is enough for the management of the company, there are no residency requirements for board members (it is not necessary to be an Estonian citizen), etc.