Company registration
in Cyprus

Many entrepreneurs want to expand their business and start working more actively with the European market.

One of the simplest and most inexpensive solutions is to open a company in Estonia, which has also introduced a convenient system of electronic residency and electronic document management in the country.

On average, the process of registering a company in Estonia with the opening of bank accounts takes about one to two months and costs about 5,000 Euro (without the equity capital – 2,000 Euro).

Below we provide a detailed list of the registration process actions and required documents, as well as a cost table.
If you are not familiar with this topic, this article will give you a fairly complete idea of such a project implementation. In any case, there are many more details and questions that we will be ready to answer and advise you.

1. The sequence of actions and the list
of documents:

A copy of the passport

You provide a photo of passport or its scanned version.

Notarized power of attorney

Zeon company prepares a power of attorney template and sends it to the founder, who notarizes the document and sends it by courier to Zeon office in Tallinn. Then the power of attorney is translated into Estonian by a sworn translator.

Questionnaire

questionnaire, you will need to specify all the information necessary for the registration of the company and the preparation of relevant documents.

Other countries:

2. The definition of the equity capital is at least 2,500 Euro for a company

The definition of the equity capital is at least 2,500 Euro for a company

The equity capital is indicated in the registration documents and it also indicates the period during which this amount will be confirmed on the company's accounts.
The equity capital is deposited to an account in a bank/payment system authorized by the regulator on the territory of the European Economic Area (EEA).
If you pay for the equity capital later than the specified period, you will need to submit an application to the register that the equity capital has been paid.
The deposited funds can be used later for the operational needs of the company.

3. Choosing a company name

The customer provides 2-3 options, Legex checks the names in the register for uniqueness.

4. Planning the opening of bank accounts

Not every bank is ready to serve the crypto business and work with startups. But working through partner programs with crypto-friendly banks, you can get approval from banks in advance and prepare the documents required for onboarding.

You also need to consider user accounts options, access levels and payment flow schemes.

Bank Account Opening

5. Submitting an application for an electronic e-residency (e-residency) card

E-residency provides an opportunity to use digital services of the electronic environment in Estonia, including digital signature of documents and communication with government agencies.

To get access to the services of the electronic environment, an e-residency id card is issued, which is delivered at the Embassy or consulate of Estonia.

If there is an e-residence permit or a residence, the application and filling in the data during the registration of the company takes place in electronic form on the register's website. The application is considered within 5 working days.

For non-residents, it is proposed to make an e-residency, in parallel with the process of opening a company, or to introduce an Estonian resident with the rights of a general / executive director to the Management Board.

The period of consideration after submitting an application for e-residency is 60 days. The term can be extended up to six months by the regulator decision (it is extremely rare and this is notified).

6. Selection of a contact person and a legal address

7. Conducting a transaction with a notary

✓ A contact person is necessary for non-residents to interact with government agencies, process correspondence and appeals.

The presence of a contact person and a legal address for non-residents is regulated by the Commercial Code in Estonia and is mandatory.

The date/time of the transaction at the notary should be planned in advance. The approximate waiting time is within a week, with large downloads it is possible to be increased to two weeks to complete a transaction for the registration of a company.

✓ After the transaction, the application for registration of the company is considered within 5 working days.

8. Preparation of a package of registration documents

Legex will translate registration documents into English with notarization, prepare electronic copies of documents, and coordinate the transfer/storage of physical copies of registration documents.

See full list of services related to company registration in Estonia in Price List.

See Price List

Do not hesitate to contact us and reserve the option to register company in Estonia right now!