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A Brief Explanation on Mandatory virtual Office
Can You Benefit from Virtual Office in Estonia Paying Less?
Jul 29, 2021 · 2 min read
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You can easily say that among the most important requirements for companies incorporation in Estonia are a legal address and a contact person. Enty like many other companies on the market, calls it a Virtual Office. However, Virtual Office is still quite a mysterious substance, as service providers have different services included in it.
In most cases, entrepreneurs cannot determine the need for a virtual office and wonder how to pay less. In this article, we would like to clarify why legal address and contact person are mandatory, how to choose the best solution on the market, and not to be deceived.
In most cases, entrepreneurs cannot determine the need for a virtual office and wonder how to pay less. In this article, we would like to clarify why legal address and contact person are mandatory, how to choose the best solution on the market, and not to be deceived.
Legal Side of a Virtual Office
As we've pointed out before, each company founded by foreigners must have a contact person and a legal address. Keep in mind that if you have Estonian citizenship, your company doesn't need to have a contact person.
The company's address is where your company registered legally. Note, that it isn't necessarily a physical office where your employees work, just a legal substance. The legal address cannot be also a random home address of an individual — each virtual office provider must have special license.
An obligation to have a legal address and contact person is designed to provide customers with a company's specific address and spokesperson to contact. This is needed in order to be able to contact a company at any time with information or in case of any issues. Mostly legal ones.
To conclude, legally, a company formed by foreign founders must have a legal address and contact person. Nothing else is required by the law. In the next section, we will explain why did we point out this statement.
The company's address is where your company registered legally. Note, that it isn't necessarily a physical office where your employees work, just a legal substance. The legal address cannot be also a random home address of an individual — each virtual office provider must have special license.
An obligation to have a legal address and contact person is designed to provide customers with a company's specific address and spokesperson to contact. This is needed in order to be able to contact a company at any time with information or in case of any issues. Mostly legal ones.
To conclude, legally, a company formed by foreign founders must have a legal address and contact person. Nothing else is required by the law. In the next section, we will explain why did we point out this statement.
Most of the Virtual Office Offers — Irrelevant, Overpriced, Absurd
So, now it's time to dive a bit deeper into what most people on the market offer under the name of "Virtual Office". Please note, that the information below is our opinion that is based on our knowledge and experience.
When you are looking at different Virtual Office packages, you will be shocked at how different the prices and included services are. Some services might be useful: a service provider will receive and resend mail or even appoint the needed meetings. But most of the service providers on the market offer swollen virtual office subscriptions to increase their prices. They might offer multilingual secretarial services to answer your calls, setting a company in a certain respectable business district, providing you with real office space, or even with a fax number (in 2021, really?). In most cases, most of the services can't be excluded from the subscriptions.
When you are looking at different Virtual Office packages, you will be shocked at how different the prices and included services are. Some services might be useful: a service provider will receive and resend mail or even appoint the needed meetings. But most of the service providers on the market offer swollen virtual office subscriptions to increase their prices. They might offer multilingual secretarial services to answer your calls, setting a company in a certain respectable business district, providing you with real office space, or even with a fax number (in 2021, really?). In most cases, most of the services can't be excluded from the subscriptions.
Key Takeaway
If you are looking for a Virtual Office subscription, we recommend either choose those that offer strictly mandatory services — legal address and a contact person or those that offer unique features that will help you manage companies' activities easier
What Enty's Virtual Office is About?
While most service providers offer virtual office subscriptions for more than €50 per month, we provide it in all of our subscriptions starting from just €33 a month. And as our platform is designed to solve all back-office needs of a company, even our cheapest subscription has several nice services.
Outside of Virtual Office, the Lite subscription includes Invoicing automation and Corporate Secretarial Services — over 10 vital corporate services that will be completed by our team. Obtain a VAT, OSS, EORI number, appoint a new director and use so many other services that will help you save up to €100 and 5 hours monthly. Also, in all our subscriptions is included Contract management and Contractors' onboarding.
And that's not it, Lite subscription will also include access to our Knowledge Base with dozens of useful guides for Estonian companies. More advanced subscriptions include accounting automation with our cool interface and the HR feature to be released very soon. Using our accounting feature, you will be able to limit all accounting reporting to a simple procedure of uploading the documents. As accounting requires a personal touch of a professional accountant, a consultation is also included in the subscription. Find out more about how accounting works in the separate article.
Outside of Virtual Office, the Lite subscription includes Invoicing automation and Corporate Secretarial Services — over 10 vital corporate services that will be completed by our team. Obtain a VAT, OSS, EORI number, appoint a new director and use so many other services that will help you save up to €100 and 5 hours monthly. Also, in all our subscriptions is included Contract management and Contractors' onboarding.
And that's not it, Lite subscription will also include access to our Knowledge Base with dozens of useful guides for Estonian companies. More advanced subscriptions include accounting automation with our cool interface and the HR feature to be released very soon. Using our accounting feature, you will be able to limit all accounting reporting to a simple procedure of uploading the documents. As accounting requires a personal touch of a professional accountant, a consultation is also included in the subscription. Find out more about how accounting works in the separate article.
And of course, there is something that no money can buy — the most caring client team that will lead you through all obstacles and resolve any issue you might face. Many of our clients choose Enty precisely for our personal touch. To make sure of that, check out interviews with our clients.
Above, we advised finding the cheapest or the most beneficial subscription on virtual office, remember? So, while cooking up our solution, we've tried to take care of both — keep the prices low and provide a bunch of streamlined services at once. Your company won't lose anything if your transfer to Enty but will get massive benefits in the long term. Stop wasting your money on air and start using a smart service that will provide you with services that you actually need.
Above, we advised finding the cheapest or the most beneficial subscription on virtual office, remember? So, while cooking up our solution, we've tried to take care of both — keep the prices low and provide a bunch of streamlined services at once. Your company won't lose anything if your transfer to Enty but will get massive benefits in the long term. Stop wasting your money on air and start using a smart service that will provide you with services that you actually need.
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