Just wanted to do a follow-up in regards to operating my companies in Estonia, and the accounting service providers I’ve been using over the years.
You know how it is with operating an online business: What matters is not what works in the short-term but over the course of months and years.
That applies to generating income but is also true when it comes to taxes and legal structures.
Over the last 3 years, I was able to experience first-hand a variety of aspect in regards to running an Estonian company via the e-Residency program.
- Monthly Accounting (Submitting Documents, etc.)
- Getting Reimbursed for Company Expenses/Travel Expenses
- Investing with Company Funds (ETFs, Cryptos)
- Applying for an LEI (Legal Entity Identifier)
- Paying out a Salary/Dividends
Overall, I’d have to say: So far, so good.
Before I set up my company, I had thought that accounting would really be as streamlined as they promise.
Only a few minutes per month, everything else is done automatically by the accounting service provider (in my case LeapIN now called Xolo and NordicConsult).
And it really is.
In fact, your work for accounting becomes less over time – specifically if you have recurring payments/income – no input required from you then.
Manual input is only required if you have a new payment where you then need to submit the customer’s or service provider’s address.
Really, there isn’t much more to say, and I think this is a good thing. If something works, it should be smooth anyway and there shouldn’t be much to talk about other then that it just works.
Lastly, two recent changes I want to mention.
Also, this …
- LHV Bank Introduced a 10€/month non-resident fee
- Stripe now also available for Estonia