We'll share simple but life-saving tips for small businesses and freelancers on business banking.

How to start a new business with e-Residency?

How to start a new business with e-Residency?

E-residency gives entrepreneurs the advantage of establishing a company in the European market, regardless of nationality. Moreover, it creates the opportunity to manage the entire company formation process online. It is an important opportunity for entrepreneurs who want to do business in the wide market.

There are 4 steps you need to complete to establish a company with e-residency. After completing these steps, you can manage your business with all digital opportunities from anywhere in the world with E-residency.

1.Become an E-resident
You can complete the e-residency application process completely digitally. You can complete your application by preparing your identity, passport, biometric photo, letter of intent and card information requested from you. Your application process will be completed in 3-4 weeks on average and you will be informed by e-mail. After the mail reaches you, you can get your ID and become an e-resident.

2. Choose Service Provider
After you become an e-resident, you can proceed to the company establishment process. In this process, cooperating with a service provider company will facilitate the process. Service providers guide you during the establishment of a company and prevent you from making mistakes. They provide the physical address you need to have in Estonia. They manage the company formation process. They also help the entire tax and accounting-related processes to proceed smoothly and quickly.

Xolo is one of the most preferred companies as a service provider. They accelerate your company establishment process with e-residency in Estonia by supporting all processes such as physical address, necessary documents and application procedures, accounting, taxes. You can also check other service providers such as E-residency Hub and Companion.

3. Register Company
You must register your company with the e-Business Register. After completing your registration, the Portal allows you to see the legal entities affiliated to you, make changes to the data, send petitions and documents to the registry and annual reports. e-Finance accounting software is also ready to use. Note that you and all your partners must have an e-signature at this stage.

4. Get Business Banking
The last step is to have a bank account. At this stage, you can choose an Estonian bank or take a look at EU-based fintechs. If you're looking for a fast, digital and reliable solution, check out fintechs. E-residency approved wamo is an EU based fintech firm. You can easily create a business account for your company in minutes. wamo provides smart and fast solutions for your new business.

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Jamie Larson