Introduction

Estonia is one of the most digitally advanced countries in the world. It's also a great place to do business. If you're thinking about starting up an online business, then Estonia could be just what you've been looking for. In this article we'll look at some of the reasons why it's so great and how to go about setting up a business there.

A supportive government

Estonia is a small country with a population of 1.3 million people, but it's also one of the most advanced countries in Europe. The government is very supportive of new businesses and has many resources available to help you get started.

In addition to this, Estonia has been ranked as one of the best places in Europe for doing business by several independent organizations. For example:

●     World Bank - "Estonia ranks first among EU member states for ease of doing business"

●     Forbes Magazine - "Estonia has managed to make things work better than anyone else"

A cheap and stable economy

Estonia is a member of the European Union, and its currency is the euro. This means that you can set up your business in Estonia with relative ease and not have to worry about currency fluctuations or exchange rates.

The Estonian economy has been growing steadily since 2000 and reached 4% growth in 2017 -- one of Europe's fastest rates. In addition, it has a low unemployment rate (4%) and an even lower budget deficit (1%).

Estonia also offers affordable costs for businesses: its labor costs are among the lowest in Europe at around $20 per hour on average--a fraction of what some other countries charge--and there are no taxes on profits until they exceed €100k ($112k).

An easy tax system

Estonia has a flat tax rate of 21%, and companies pay a corporate income tax of 21%. Personal income tax is also 21%. This makes it easy to file your taxes, as you only have one form to fill out.

Estonia is also known for its online services, which can be accessed by citizens and businesses alike. You can apply for everything from visas to driver's licenses through the government website; this makes setting up your business much simpler than it might otherwise be in other countries where there are fewer options available online or fewer people who speak English fluently enough that they would be able to help you navigate bureaucracy over the phone or in person

An easy business registration

The process of registering a company in Estonia is easy. There are no restrictions on the number of shareholders or their nationality, so you can incorporate with a single shareholder as well as with hundreds of them. The minimum capital requirement is €10,000, which you'll put into your business bank account once it's set up.

Once you've decided on your company name and have registered at an Estonian address (either your own home or one provided by an office rental service), it takes about 1-2 weeks for everything else to be sorted out--including getting access to e-services such as remote banking and filing taxes online via Taxifyr.

Once it's done, congratulations! You're ready to start doing business in Estonia!

Great infrastructure for e-commerce

Estonia is a great place to start a new business. The country has one of the most advanced IT infrastructures in the world, with its e-government system being one of its biggest successes.

Estonia is also known for having the fastest internet connection in Europe, with speeds reaching up to 1 gigabit per second (1 Gbps). This makes it easy for you to run an online business from anywhere in Estonia without worrying about slow connections or downtime due to poor infrastructure.

A highly skilled workforce

While you can set up a business in Estonia without being physically present, it's worth noting that the country has an extremely talented workforce. The Estonian government actively encourages entrepreneurship and there are many resources available to help you get started.

Estonia's e-Residency program is one example of how they support their entrepreneurs. It allows anyone in the world to apply for an Estonian digital identity that gives them secure access to online services like banking and tax reporting, while also allowing them to establish and run a location-independent business from anywhere in the world.

Estonia is a great place to start a new business.

Estonia is a great place to start a new business. It has many advantages for entrepreneurs, including:

●     A small country with a population of 1.3 million people and an excellent education system, making it easy to find skilled employees who can help build your company from the ground up

●     An ideal location in Northern Europe, bordering the Baltic Sea and Gulf of Finland

●     Low taxes on profits (20%) compared with other EU countries

What are the requirements to set up a business in Estonia

The first step to setting up a business in Estonia is to obtain an Estonian personal identification code. This is a 10-digit number that you will use for all your future dealings with the government and banks, so it's important that you remember it!

Next, get yourself a bank account so that you can receive payments from customers and pay staff wages. You can do this online or by visiting one of the many branches around town (just look for one with "Bank" written on its sign).

Once these two things are done, go ahead and write up a business plan for yourself which includes: what type of product or service will be offered; how much money it will cost; who will buy it; how much profit they expect each year etcetera - basically everything needed to make sure this venture succeeds! Then register at https://eesti.ee/en/company-formation as soon as possible because we don't want anyone else stealing our idea before we've even started making profits off them!

Can non-residents set up a business in Estonia

To set up a business in Estonia, you must be a citizen of the European Union. You must also have lived in Estonia for at least 183 days over the last 12 months, have been granted an Estonian personal identification code (not required if you're not staying), and be able to speak Estonian fluently.

Your passport must be valid at least until your registration expires (usually one year).

Can non-residents apply for a business bank account in Estonia

A non-resident applying for a business bank account in Estonia needs to have an Estonian tax number, which can be obtained by submitting all relevant documents to the local tax office.

Once you have your business bank account, you can start accepting payments via electronic money transfer and make payments using payment cards issued by Estonian banks. This will allow you to avoid paying fees when making payments abroad or domestically.

Conclusion

Estonia is a great place to start a new business, and it's not just because of its beautiful nature or rich cultural heritage. The country also has an excellent tax system, which means that you can invest your money in growing your business without worrying about paying too much in taxes. This makes it possible for entrepreneurs from all over the world to come here and set up shop without having any prior knowledge of Estonian language or culture!

Please note that a jurisdictions’ requirements may change from time to time. Please contact us for current requirements in this jurisdiction.