One of the big misconceptions about obtaining e-Residency and starting an Estonian company is that the entire procedure is very complicated and takes a lot of time.
There are many steps involved, you need to be familiar with all laws and regulations, perhaps even hire a lawyer, or tax consultant …
This couldn’t be further from the truth.
To show you what the process REALLY looks like and how easy everything is, I will go back in time and lay out every single step I had to take – this includes application and email conversations during the setup process.
Specifically, from the first step to having set up my Estonian company and being fully operational. You’ll be shocked how easy it is …
For the purpose of this tutorial, I will skip the e-Residency application process. I will also assume that you have obtained your e-Residency ID card already or are in the process (you’ll pick it up in the near future).
Your Estonian Company
Alright, you have just picked up your e-Residency ID card.
How do you ACTUALLY register an Estonian company?
If you are new to this, you might assume that registering a company is difficult – particularly if you don’t speak Estonian.
That’s why there are many e-Residency service providers who offer services to people like you and I. They assist & guide you every step along the way.
Over three years ago, when I decided to start my Estonian company, I have decided to use a service provider called XOLO.
XOLO was formerly called LeapIN, so please don’t be confused about the two different names. Same company, same service.
Now, over 3 years later, I am still with XOLO and highly recommend them to anyone who is interested in starting an Estonian company.
I had just received my e-Residency ID card and was ready to rock & roll. I simply went to the XOLO website and signed up.
A few minutes later, I received an email to verify my email address.
After clicking the confirm button, I was redirected to an application form on the XOLO website.
This was where I had to fill out my name, talk about what my business activities are going to be and other details.
Early morning the next day, I received an email from XOLO customer support. I was informed that my application had been approved.
We discussed what I am going need in terms of banking, which currency payments I will receive, and what the best banking options are.
Then I had to log in to the XOLO dashboard again and fill out a form, pay the company registration fee.
Less than 24 hours later, my company had been set up. Then I had received an email confirmation that the company had been registered.
Now my company had successfully been registered.
At this point, I had also received various company-related documents required to open a business PayPal account, Amazon, Stripe and the-like.
DONE – COMPANY SET UP
Shockingly, that was all there was to setting up my Estonian company.
With those company documents in hand (PDF format), I was able to process/receive payments and my business was fully operational.
As you can see, we are talking about something that is extremely streamlined and takes less than a day to be completed.
Plus, along the way you are being assisted by XOLO customer support.
Those were the few and simple steps to go from having NO company to setting everything up – being fully operational.
If you are curious about what my experience with XOLO was like in the 3 years after (up until now), I have detailed the XOLO customer response time here.
Lastly, if you decide to choose XOLO for your Estonian company, you can GET STARTED RIGHT HERE.
More about XOLO Estonia
If you’d like to learn more about my experience with XOLO, read an in-depth XOLO review and see their dashboard in action, take a look at the following articles.