Is Estonian company via e-Residency worth it?

[John Andrews]

Isn't this forbidden by EU law? Shouldn't you be able to have your biz bank account in any EU country? I get it that they want to forbid EMIs but this is just plain stupid.

 

[JohnLocke]

I wonder what any real bank in the EU will say about such a setup? Has anyone at all been able to open a bank account?

 

[John Andrews]

I think with Lithuania in EU preparing e-Residency and Azerbaijan offering it the landscape for e-Residency will offer more choices soon. I certainly would like to see some competition among those countries, with other countries joining in. Mounting competition will hopefully also keep Estonia from implementing some crazy ideas from the Whitepaper for e-Residency 2.0 - like the requirement for e-resident companies to double profit every year ;-) . Some of these ideas have now made it into an action plan, whose content has not been published yet. Time will tell.

The main selling point of an estonian company is indefinite tax deferral. But yeah I hope they'll stick to the current laws.

 

[karim8899]

"All non-resident clients must visit our branch in order to go through the identification process. " Non-residents · LHV

I remember I've read somewhere on their website that that wasn't necessary. Someone was able to open an account remotely.

 

[JimBeam]

ber I've read somewhere on their website that that wasn't necessary. Someone was able to open an account rem

You can use EMI but that's not a real bank account.
Before, they said thta they'll allow Skype conference calls for bank account setup, but that was never introduced, so personal visit is required.

 

[ffbkdavid]

For a solo freelancer or one who does other type of business solo as well, is Estonian company via e-Residency worth using it?

it's not worth a cent to go through the procedure of getting e-residency... had to fly to london as estonia hasn't a wide range of embassies... o.k., could combine the trip with looking around for office space for our uk operations...

estonian companies without banking facilities is absolutely worthless... but ALL local banks contacted simply refused to even consider opening accounts for estonian companies WITHOUT LOCAL PRESENCE/ACTIVITIES WITHIN THE COUNTRY

wasted money and time... didn't update the e-residency after one year... without any comment from the officials resonsible and intensively promoting the system...

forget it!