Preparation and exchange of information
This can be completed in an hour or two, but it usually takes a 1-2 days.
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's name
- Shareholders', UBO's and board members' names, addresses and e-mails
- Company's 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.
All of our prices for services include all reasonable related costs, like state and notary fees. No hidden costs.
Registration of the company
Ready made company
is ready immediately
Tailor made company (by order)
takes 1-2 days
As stated by the 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 which are 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's name can be checked here: LINK
However, even if your company name looks available, you can only be sure of the result when your company has been registered or the name is rejected. When the company's name is rejected, it prolongs the process usually up to 1 week (after new trial with the new name).
We create all companies with a fully paid-in share capital
It is often not mentioned that even though it is possible to register a company in Estonia without the contribution of share capital (min 2500), it does clearly have some negative consequences which you should know before your decision-making:
- On your company's registry card there will be written "created without monetary contribution"
- Removing this note later requires significant (legal) effort
- It is not allowed to distribute profit and rise share capital before the above mentioned notice is removed
To create a company with the share capital payment you do not usually need to contribute it by yourself. KRM Advisor will take care of the payment on behalf of you. However, in case you create the company with e-residency, as a rule the share capital contribution can not be done by KRM Advisor.
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 be signed by you and certified by the notary.
Visiting Tallinn for 1 day is enough to complete all required procedures.
We will prepare a Power of Attorney(s) (POA) to transfer shares and a board membership to you. We will instruct you on how to get the documents done correctly. POA(s) must be signed by you and certified by the notary. Usually after the notary's certification, document(s) must be apostilled and sent to us.
When we have received the POA(s), 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 including 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
1. Opening an account with a PSP (Payment Service Provider)
Usually it takes around 1 week. Most companies are usually accepted and it is doable completely remotely. You get your individual IBAN number. Excellent choice for SEPA payments. SWIFT payments works under the name of PSP.
2. Opening an account in an Estonian bank
This usually takes 2-4 weeks.
However, in case your Estonian company has no relations to Estonia (clients or vendors or employees) - as a rule local banks do not want to open bank account to your company.
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.
3. Opening an account in bank outside of Estonia
This usually takes 2-4 weeks or even more.
There are banks which are ready to open bank accounts for an Estonian company and 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.
There are banks which open accounts remotely and some require face to face meeting.
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.