The advancements in modern technology paved the way for the emergence of digital nomads. These are the people who leverage technological innovations to perform their job or run their businesses, regardless of their location.
More often than not, you will find digital nomads working remotely from foreign countries or co-working spaces, rather than seeing them physically at their company’s headquarters.
Recently, Estonia released a digital nomad visa that allows remote workers to live in the country while fulfilling their duties in a company that is registered in another country. Aside from this, the country also welcomes those individuals who are keen on putting up their business in their jurisdiction. In case you are keen on opening a business in Estonia, below are some of the things that you need to do.
Get an Estonian e-Residency
One of the primary things that you need to do to put up an online business in Estonia is to apply for an e-residency. In this case, you need to submit an application and get a digital ID to register an Estonian company with Estonian e-Residency, as well as pay the state fee. The entire application process is completed online. Once you pick up your ID at the pick-up location you have selected, they will also take your fingerprints. Anyone can apply for an e-residency in the country and the great news is that most of the applications submitted are approved.
You Need an Estonian Address
As an e-resident, you don’t need to complete several documents, but you need one important thing, and that is an Estonian address. No, you don’t need to fly to the country to obtain one because you can get a legal address remotely as well. The key is in getting in touch with an Estonian contact person who will be able to handle this matter for you.
Check Whether the Name of Your Business is Unique
Once you already have an Estonian address, all that is left for you to do is to pay a state fee for your company registration. However, before doing so, you need to make sure that the name that you want for your business is still available. As much as possible, steer clear from a name with special characters or symbols and check whether there are other similar trademarks across the European continent. Rest assured that you will be able to effortlessly check this through various online sources.
Once your company is registered, you can already apply for business banking to cover the finances you need for your brand. If you participate in an e-residency community, you will even have the chance to network globally and make your business grow.
In conclusion, it is relatively effortless to open a business in Estonia, even if you are currently out of the country. All you need to do is to apply for an Estonian e-residency, which entails the need for you to have an Estonian address or a contact person who has one. Just make sure that your business name is unique and after this, you are all set.