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On December 12, 2019, the Estonian parliament approved a law that applies to companies providing virtual currency wallet service or exchanging virtual currency against fiat currency. Companies that have licenses issued must implement new procedures by July 1, 2020. Otherwise, the Financial Intelligence Unit may revoke their licenses – says Paweł Krok from Eesticonsulting.ee. A company that wants to obtain a license for an exchange office and a currency portfolio must provide no criminal record proof and a CV for all members of the company. Everyone involved must present a copy of the passport certified by a notary public, as well as the AML procedure as before. A company should set up a bank account in Estonia or any EEA country. Share capital should be at least EUR 12,000. The non-monetary contribution is not allowed. The company should have its own office and management on the territory of the Republic…

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We are fully experienced E-MONEY License in Lithuania – payment institution The electronic money institution – called often EMI license or E money license – is a regulated financial institution whose purpose is to provide services related to electronic money and payment services. The full license for E-Money is not limited in time or type of activity. A company that has a license of an electronic money institution in Lithuania can provide any services in the European Economic Area (EEA) without having to obtain a position in another EU country. After obtaining a license in Lithuania, an electronic money institution may provide services in other EEA Member States by establishing branches. The kind of services that require a license in Lithuania services enabling cash to be placed on a payment account as well as all operations necessary for operating a payment account; services enabling cash withdrawals from a payment account,…

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trademark in estonia A trademark is used to identify products and services. His task is to distinguish your products from coco-competitive products. A trademark can be a word, drawing, letter, number, color, spatial form, including the shape of the goods, and even sound. We have the following types of trademarks: word mark, word graphic, spatial mark, positional mark, color combination, sound mark, moving mark or holographic mark. Source of Estonian Trademark Law Trademark Act – View trademark benefits tax and legal incentives of trademark registration A trademark can be sold A trademark is a property right that you can sell. You don’t have to sell your business or enterprise – you can sell the trademark itself. By registering a mark on an individual, you can retain the right to the most important asset when, for example, your company encounters difficulties and its assets are seized. The exclusive right to using…

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Banking solutions for cryptocurrency business You’ve heard that it’s difficult to open a bank account for cryptocurrency services. Today we will tell you how to start preparations for opening such an account. Customers who contact us say they are refused to set up an account. They set up companies in EU countries and then encounter difficulties in opening a bank account. Is it even possible to open such a bank account? ACCOUNT TYPE FOR CRYPTO CLIENTS high street bank It is crypto-friendly bank, who operates as traditional high street bank – financial institution. payment service provider It operates under the E-Money License – it works like fintech apps – likes Revolut, Trasnferwise but it is crypto-friendly. our fees We will help you estabilish bank account or PSP service for your cryptocurrency business. Bank account € 3000 Multi-currency bank account with e-banking Remotely set-up EUR GBP USD CHF ant other currencies…

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opening bank account in switzerland We will help you open an individual or company bank account for an Estonian company in Switzerland. The process of setting up a bank account is completely remote. You will get all access to your account by post. How to open swiss bank account? Most frequent questions and answers Which documents are needed for bank account opening in Switzerland? In the case of an Estonian company that wants to open a bank account in Switzerland – the bank will ask for the following documents: Extract from RIK – Commercial Register The names of directors The names of shareholders (if they are natural persons) The list of beneficial owners The nature of business (EMTAK codes) Apostilled and notarized documents  Certificate of tax residency of the company Can I open swiss bank account remotely without visit in Switzerland? The bank account is opened remotely without visiting Switzerland.…

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How to register subsidiary in estonia? if the foreign company plan enter into estonian market (…) Special resolution of foreign company In order to establish a branch of a parent company in Estonia, an act of establishment is necessary. It may be a resolution – usually Special Resolution – adopted by the authorities of a foreign company. How can this decision be made? It depends on the law of the country in which the company is registered (Company Law) and on the Article of Association of the parent company. This decision must be sworn translated into Estonian and must contain information about the subject of the activity and indicate the person who will be the representative of such branch in the territory of Estonia. Features of the branch of a foreign company: Features of the branch of a foreign company:– The company’s branch has no legal personality– The company’s branch…

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Tax residency in estonia natural persons A natural person is resident if one of the conditions is met: – the place of residence is in Estonia – the residence time in Estonia is at least 183 days per year legal persons A legal person is a resident of Estonia based on the place of registration of the company. asK ABOUT TAX RESIDENCY hOW IT WORKS? Does the e-Residence card affect my tax residence? The e-Residence card has no effect on the residence.  This is only a document that allows you to sign an electronic signature and correctly identify when setting up a company or operating a bank account. Thanks to the e-Residence card, we have access to the Estonian market. Can i get the certificate of tax residency signed and stamped by revenue? Yes – we offer this service. You can order a residence certificate with the official stamp and…

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How much Tax you pay from not distributed profits 1 % United kingdom You pay 19% CT from Net Profits if you have british limited liability company (LTD) 1 % estonia* *This is not a tax rate.   If you don’t pay a dividend to the company shareholder,  you pay nothing to tax. united kingdom directors At least 1 director – natural person. shareholders At least 1 shareholders – may be a legal person.  state fee £10 – WebFilling fee or £40 by paper incorporation Fully remote incorporation via WebFilling Portal bank Troubles with British high-street banks. selling shares You do not need notarial agreement.  estonia directors At least 1 director – natural person. shareholders At least 1 shareholders – may be a legal person.  state fee 190€ via e-Residency card  incorporation Remotely only if you are e-Resident card holder.  Another way is the incorporation by Power of Attorney bank The…

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Beneficial owner term A beneficial owner is a natural person who owns the benefits of ownership even though right to some form of business is in another name. It also indicates any individual or group of individuals who, both directly or indirectly, has the ability to vote or control the transaction decisions regarding specific security, such as shares in a company In the event of natural person holds at least 25 % shares in the company, he is treated as a beneficial owner.   Most of the companies have only 1 director and 1 shareholder with 100% shares.    In this scenario, the beneficial owner is the 100% shareholder, who are together the director of the company. Look at the other example.    Company has 5 shareholders: A keeps 20% shares, B – 30%, C-30%, D – 10% and E – 10% shares  in the share capital of the company.  Who…

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Another reason to work and do business in Estonia is the fact that it has one of the most flexible taxation laws in the European Union as well as the rest of the world. The 0% tax on retained and reinvested profits alone has got local and foreign investors on a rat race trying to squeeze their way through immigration just so they can have a piece of that proverbial “pie” of the Estonian economy. But there are more tax benefits from Estonian company that any investor could enjoy if he decides to start a business in Estonia that are just too good to ignore. Taxes in Estonia Corporate Income Tax Labour Tax Value Added Tax (VAT) Personal Income Tax Corporate Income Tax – 0% tax in Estonia! As stated above there is no more corporate income tax on retained and reinvested profits, which means that local and foreign companies…

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