Preparation and exhange of information
Can be completed in an hour or two but usually takes a day or a few.
To start, we need to know
- Will you buy a ready made company from our list or we will create it by your order.
- Company name
- Shareholders' and board members' names, addresses and emails
- Company activity
- List of services you need
- Will you visit Estonia or would you prefer to start the company remotely
- Way of payment. Wire, PayPal, card or cash payments are available.
As a rule we proceed after we have received the payment from you. Based on your preferred payment method we will send you an invoice or payment instructions.
Registration of the company
Ready made company
is ready immediately
Tailor made company (by order)
takes 1-2 days
As stated by name - a ready made company is already created. Just choose one from our list and we can proceed with the transfer of the company to you and provide other needed services agreed upon.
Creating a new company usually takes 1-2 days (unless the name of the company will be rejected by the register).
Availability of your company name you can check here: LINK
However - even if your company name looks available - you can be sure of the result when your company is registered or name is rejected. When the company name is rejected, it prolongs the process usually up to 1 week (after new trial with the new name).
Transfer of the company
By visiting Estonia
takes 1 day
Remotely (without visiting Estonia)
takes usually 2-3 weeks, depends a lot on your dedication
After we have received the required data, documents and prepayment we can prepare the company's share transfer and board change documents. These must signed by you and certified by the notary.
Visiting Tallinn for 1 day is enough to complete all required procedures.
We will prepare Power of Attorney (POA) to transfer shares and petition to transfer board membership to you. We will instruct you on how getting the documents finished correctly. As a rule both of these documents must be signed by you and certified by the notary. Usually after the notary's certification both documents must be apostilled and sent to us.
When we have received the POA and the petition we will arrange the required translations and take care of the share transfer and board member changes.
Filing changes in register
The new shareholder's name will appear in the register usually within 1-2 days.
Other data incl. new board members will appear in 1-5 working days. We will send you the company's renewed registry card (PDF) when all changes are complete.
Corporate account opening
We create almost all companies with paid in share capital, which means that the company has a start account, however it can't be used until KYC procedures are done. Each time the company's key persons change - new KYC procedures must be done at the bank. In practical level it means that as a rule you cannot buy (ready made or any other) a company with an active bank account. Or when you can - it is highly probable that the account might be closed soon.
1. Opening an account with a PSP (Payment Service Provider)
Usually takes around 1-3 days. Most companies are usually accepted and it is doable completely remotely. You get your individual IBAN number. Excellent choice for SEPA payments. SWIFT payments work under the name of PSP.
2. Opening an account in an Estonian bank
This usually takes 2-4 weeks. In case your company will have business transactions in Estonia - it is highly probable that the company account will be opened. In case your Estonian company with foreign beneficiary owners have no business transactions in Estonia it is less probable that the company gets an account, as banks are very stringent towards non-residents. To avoid wasting your time it is better to evaluate with your KRM Advisor consultant whether it is realistic at all and in what bank to try. All Estonian banks require at least one face to face meeting. Remote opening is not possible. Currently this option has no USD payment possibility.
3. Opening an account in a Latvian bank
This usually takes 2-4 weeks. It is not required to have business connections to Estonia. Most important is that during the KYC the bank understands how your business works and who are beneficiary owners. Currently this option has no USD and GBP payment possibility. As a rule face to face meeting is required. However, in certain cases KRM Advisor can do the face to face, which means from client's perspective remote opening is possible.
4. Opening an account in a bank outside the EU (in Europe)
This usually takes 3-5 weeks. It is not required to have business connections to Estonia. Main currencies are supported. They also support companies dealing with cryptocurrencies. Downside is higher cost level, which is still acceptable for many. Face to face meeting is not required. Account opening is done completely remotely.
VAT ID registration
takes usually 1 week after submitting the application
When VAT related sales already exceed 40 000 EUR/year
In case your company VAT related sales exceed 40 000 EUR/year you must apply for VAT ID and usually VAT ID is granted. However - tax authorities often require strong enough proof. If not provided you might be involved into extensive question answer session.
When VAT related sales is under 40 000 EUR/year yet
When you decide to apply for VAT ID without reached 40 000 EUR yearly turnover - you must be prepared to prove that you need VAT ID. It is better to take this as serious as possible because if tax authorities find your evidence not sufficient they take "defensive attitude" and you will need to prove even more the need of the VAT ID for your company. Due to that the process may be prolonged to several weeks or more.
As a rule proper preparation and evidence makes this process shorter and easier.
Simplest and quickest cases take 1-3 days
If you are alone, choose a ready made company from our list and visit Estonia, then you can buy the company in 1 or 2 days (or sometimes even in the same day).
Most common time needed is 1-3 weeks
Most of our clients even if they visit Estonia - they need a week or two for all the process and additionally the time needed for bank account procedures or VAT ID registration.
Starting a company remotely usually requires ca 1 month.
It is possible to do it even quicker, however as a rule it usually takes ca 1 month. The time is dependant on how quickly the client gives us the required information and sends us the certified documents.