Open a Company in Estonia Online With Bank Account

Key costs for company opening and maintenance consist of:

• one-time payment of incorporation (the gov fee of €290 with Enty’s fee);
• bank account opening (higher spending for companies from middle- and high-risk countries);
• legal address and contact person from Enty (required by the law);
• accounting;
• VAT number obtaining and monthly VAT declaration (for certain companies).

Also, such services as HR, invoicing, and contract management let you automate your business routine and simplify the management of other processes.

Here’s our special offer for just €2000 to cover all of these processes as one without headaches.

Note that the monthly VAT declarations are included in our Pro subscription only.

Incorporation with e-Residency takes just 1-2 business days, and if you have chosen the incorporation through a notary, we might need around 1-2 weeks to complete the process after we receive notarized and apostilled documents from you. Here is a detailed guide on how the process of company incorporation looks like

Yes! Estonia allows foreigners to incorporate their company fully remotely through a notary service or online with an e-residency card. However, to open and maintain a company in Estonia, you are obliged to have a virtual office and a contact person unless you are planning to have your own physical office in Estonia.

Enty will provide you with a Virtual Office in Standard subscription included in the package.

E-Residency is a government-issued digital ID card providing online access to Estonian e-gov services and the business environment. Note that e-Residency gives you no right to get permanent citizenship, tax residency, or any right of entry or travel to Estonia or the EU. However, e-Residency allows to easily sign documents digitally, conduct secure e-banking, and declare Estonian taxes fully online.

Furthermore, it’s much easier and more convenient for you to open your company with e-Residency because everything can be done online through an e-business registry within 1-3 days.

Explore our complete article about Estonian e-Residency

Yes, each shareholder and Director must have an e-Residency to open a company. Otherwise, you should consider company incorporation without e-Residency or ask your shareholders to acquire one. There’s an opportunity to open a company by yourself and add new shareholders for an extra charge later.

When submitting documents to a notary in Estonia, we will have to prove that the company exists, the directors have the signature authority, and there are no restrictions in the Articles of Association for a subsidiary company registration.

We will need a set of documents including the Power of Attorney from the side of the holding company, and some documents from its directors. These documents should be certified by a notary and apostilled.

In order to finish the incorporation, the €2500 share capital must be fully contributed. Note that we will need the bank statement to confirm this fact.

The price for the incorporation by a legal entity is provided on request.

The share capital can be paid up within 10 years after the incorporation, however, it is very common to contribute it during the first year after the company’s creation. And yes, you are allowed to use it for your corporate needs. Here you can find more details about the share capital of your company.

Unfortunately, you are not allowed to use the existing bank accounts of a person for your Estonian company.

There are two requirements for a corporate bank account:

• it should be opened at one of the EEA banks or payment institutions;
• it should be opened under the name of the company.

In this offer, Enty will help you to open a bank account for your company through our partners, which is available for clients from mid- and high-risk countries.

If your billing address is in the EU, 20% VAT will be added to the price of your services.

Your company isn’t obliged to register as a VAT payer until it exceeds the annual turnover limit of €40 000 (in the case of exceeding, you will have to obtain a VAT number within 2 days). However, if you are planning to buy and sell goods or services inside the EU, it might be necessary to obtain a VAT number from the start. Regarding the matter, it is always better to speak to our accountant.

Please note that monthly accounting is required if you have a VAT number.

Obtaining a VAT number will be already included in your Standard subscription covered by the package. Monthly accounting reports are purchased with our Pro plan.

If you need legal advice, you can always book a call with our Legal Officer at an hourly rate of €70 depending on the complexity of your request. Please make sure to prepare the list of the questions you want to ask in advance to use the time for the consultation effectively.