On February 7th we officially opened our new office in Tallinn, Estonia, licensed by the Financial Intelligence Unit in Estonia to provide fiduciary services.
For those who did not participate to our seminar, we are briefly presenting below, why Estonia is one of the best EU destinations for start-ups and IT companies.
Overview:
Estonia is a developed country with an advanced, high-income economy that has been among the fastest growing in the EU with easy and free business and trade. It ranks very high in the Human Development Index, and does well in measures of economic freedom, civil liberties, education, and press freedom.
Business Environment:
Estonian resident companies and the permanent establishments of foreign entities (including branches) are subject to 0% income tax in respect to all reinvested and retained profits. The 20% income tax applies only when the dividends are distributed. Moreover, the Estonian tax model became the direct model for Georgia, that helped the country to become a great business destination.
The Country is having a wide range of state e-services, e-banking, national ID-card and a digital signature is legally equal to handwritten one. Moreover, in 2014, Estonia launched its e-residency program, which allows non-residents to access Estonia’s e-services and run an Estonian company remotely.
Cryptocurrency Licencing:
Estonia, as one of few countries in the world has regulated the cryptocurrency activities. Estonian company can be licenced to provide two types of cryptocurrency licensed activity:
- Cryptocurrency Exchange Operating License
- Virtual Wallet Operating License
The company holding the cryptocurrency licenses is considered to be a financial institution, there are no special tax or reporting requirements, nor are there any special capital requirements.
IBCCS TAX In Estonia:
At IBCCS TAX, we will be happy to assist you on the above matters and provide you with services directly from our office in Tallinn, Estonia.
