Already known for its digital nomad-friendly visa policies, Estonia is now gaining a reputation as one of the best countries in which to set up a remote company.
Why?
Well, for starters, it’s incredibly easy—and cheap—to do.
Here are the top eleven benefits of registering your company in Estonia.
1. Simple, fast, and inexpensive process
Compared to many other countries, setting up a company in Estonia is quick and straightforward.
The whole process can be done online in just a few hours, and it won’t cost you an arm and a leg—the company registration fee is just €265.
2. Numerous tax incentives
If you’re looking for ways to minimize your tax liability, Estonia is definitely worth considering.
For example, there’s no taxation on reinvested profits, and the corporate income tax rate is just 20%.
What’s more, if your business has less than €16,000 in annual turnover, you’re not required to pay any corporate income tax at all!
3. Access to the European Union market
As an Estonian registered company, you’ll have full access to the European Union single market—which includes 500 million potential customers!
This makes it easy to expand your business into new markets and tap into a new customer base.
Plus, if you ever want to physically relocate your business to another EU country, you can do so without any hassle, thanks to the freedom of movement of goods and services within the bloc.
4. A digital-friendly environment
Estonia is often referred to as the “most digital country in the world.”
And it’s no wonder—the majority of government services are available online 24/7, and 99% of the population has access to high-speed internet.
What does this mean for businesses?
Well, it makes it easy to set up and run a digital-based business.
For example, if you’re looking to start an e-commerce business, you’ll find that all the necessary infrastructure is already in place.
5. A highly educated workforce
Estonia has one of the most educated populations in the world.
Over half of the population has completed tertiary education—which is great news if you’re looking to build a high-skilled team.
What’s more, thanks to the country’s excellent digital infrastructure, it’s easy to find and hire remote workers from anywhere in Estonia.
6. Attractive location
If you’re a digital nomad, Estonia is an excellent place to set up shop.
Not only does the country offer visa-free access to many nationalities, but it also has a generous tax regime for foreign workers.
With its excellent digital infrastructure and high quality of life, Estonia is an increasingly popular destination for digital nomads from all over the world.
7. Business-friendly environment
The Estonian government is very supportive of businesses—particularly small businesses and startups.
There are numerous initiatives in place to help businesses get started and grow, such as the Startup Visa program, which makes it easy for foreign entrepreneurs to relocate to Estonia to set up their businesses.
The government provides easy access to financing and grants—making it easier for businesses to get the funding they need to grow and scale.
8. Low cost of living
Compared to many other Western European countries, Estonia has a very reasonable cost of living.
This is great news if you’re looking to set up shop in Tallinn, the capital city—which is quickly becoming one of the most popular startup hubs in Europe.
In fact, Tallinn was recently ranked as the “most affordable digital nomad city” in the world!
9. Thriving startup scene
Estonia has a rapidly growing startup scene—which is no surprise given the numerous advantages the country offers businesses.
In fact, Estonia is home to a number of successful startups, such as TransferWise, Pipedrive, and Bolt (formerly Taxify).
What’s more, the country is also home to a number of accelerators and incubators, which provide support and resources for startups.
So if you’re looking to start a business in Estonia, you’ll be in good company!
10. Great quality of life
Estonia is a great place to live—not only is it safe and clean, but it also offers a high quality of life.
Tallinn was recently ranked as the “world’s most livable city” for digital nomads!
11. Bright future
Estonia is a country with a lot of potentials—and it’s quickly becoming one of the most popular places to do business in Europe.
Conclusion
Estonia is a great country for businesses—particularly digital businesses.
The country offers numerous advantages, such as a business-friendly environment, a highly educated workforce, and a low cost of living.
What’s more, Estonia is also home to a thriving startup scene—which is only set to grow in the years to come.
So if you’re looking for a country to start your business, Estonia should definitely be at the top of your list!