As a digital nomad, I’m always on the lookout for new ways to make my work and travel easier. That’s why I was intrigued when I first heard about the e-Residency program in Estonia. With the program, I could set up and run a business in Estonia without ever having to leave my current location. It seemed like the perfect solution for someone like me who was constantly on the move.
So, I decided to give it a try and partnered with a company called XOLO to help me incorporate my business in Estonia. It was a straightforward process, and XOLO took care of all the paperwork and legal requirements for me. Within a few weeks, I had my own Estonian business up and running, and I was ready to start taking advantage of all the benefits of the e-Residency program.
One of the most significant benefits of having an Estonian business was the ease of doing business with clients and customers in Europe. With an Estonian business, I was able to offer my services as a freelancer to clients throughout the European Union without having to worry about the complexities of cross-border taxation and compliance. I could focus on what I did best – providing value to my clients – without getting bogged down in administrative tasks.
In this blog post, I’m going to share with you everything I learned about the e-Residency program in Estonia and how it can benefit digital nomads like myself. I’ll also share some insights into XOLO, the company that helped me set up my business in Estonia, and how they can help you take advantage of the e-Residency program. So, if you’re a digital nomad looking for a new way to streamline your business operations, keep reading!
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What is the e-Residency program?
Estonia’s e-Residency program is a government initiative that allows anyone in the world to become a digital resident of Estonia. This means you can start and run a location-independent business in Estonia without ever having to set foot in the country. With an e-Residency card, you can access a range of digital services and sign documents electronically, giving you the same legal status as a traditional resident of Estonia.
How to apply for e-Residency?
The process of applying for e-Residency is straightforward and can be done entirely online. Here are the steps:
- Visit the e-Residency website (https://e-resident.gov.ee/) and fill out the application form. You’ll need to provide basic personal information, such as your name, address, and passport details.
- Pay the application fee of €100. This fee covers the processing and issuing of your e-Residency card.
- Wait for your application to be processed. This can take up to a month, so be patient.
- Once your application is approved, you’ll receive an email notification and can pick up your e-Residency card at the nearest Estonian embassy or consulate.
- Activate your e-Residency card by following the instructions that come with it. This will allow you to access all the digital services available to e-residents.
What are the benefits of e-Residency for digital nomads?
Now that you know what the e-Residency program is and how to apply for it, let’s take a closer look at the benefits it offers for digital nomads.
Easy business incorporation
One of the biggest advantages of e-Residency is the ease of starting and running a business in Estonia. With an e-Residency card, you can set up a company online in just a few hours. You can also manage your business remotely, including submitting tax returns and signing contracts electronically. This means you can focus on growing your business rather than dealing with administrative tasks.
Access to the EU market
Another benefit of e-Residency is access to the European Union market. Estonia is a member of the EU, which means that e-residents can trade with other EU countries without any additional barriers. This can open up new opportunities for your business and help you expand your customer base.
Estonia has a unique tax system that’s very favourable for entrepreneurs. The country operates on a flat tax rate of 20%, regardless of your income level. This means you can keep more of your earnings and reinvest them in your business. Additionally, Estonian companies are not required to pay corporate income tax on profits that are reinvested in the business.
Flexible banking options
As an e-resident, you can open a business bank account in Estonia without having to visit the country in person. This can be a major advantage for digital nomads who need access to banking services but don’t want to deal with the hassle of traditional banking. Estonian banks are known for their modern and innovative approach to banking, making them an ideal choice.
If you’re a digital nomad interested in the e-Residency program in Estonia, you may want to consider working with XOLO. XOLO is a company that specializes in helping entrepreneurs and remote workers incorporate and manage their businesses in Estonia.
XOLO offers a range of services to make it easy for digital nomads to take advantage of the e-Residency program. Here are some of the ways XOLO can help:
Business incorporation with XOLO
XOLO can help you incorporate your business in Estonia, taking care of all the paperwork and legal requirements. They’ll guide you through the process, ensuring that everything is done correctly and efficiently.
XOLO can help you open a business bank account in Estonia, which is a requirement for running a business in the country. They work with Estonian banks to make the process as easy and streamlined as possible.
Accounting and tax compliance
XOLO offers accounting and tax compliance services to ensure that your business stays in good standing with Estonian authorities. They’ll handle all the necessary filings and ensure that you’re always in compliance with local regulations.
Digital tools and support
XOLO provides a range of digital tools and support to make it easy for digital nomads to manage their businesses remotely. They offer a user-friendly platform where you can manage your business, track expenses, and generate invoices. They also have a team of experts available to answer your questions and provide support whenever you need it.
Overall, XOLO is a great option for digital nomads who want to take advantage of the e-Residency program in Estonia. With XOLO’s help, you can set up and run a business in Estonia without ever having to set foot in the country. This can give you the flexibility and freedom you need to work and travel on your own terms.
Sounds good right?
And especially for you we created an unique partnership with Xolo to help you set up your company and get it up and running, for FREE! Plus, you even get Euro 100 in your bank account!
See below what XOLO offers exclusively to our community and following:
- Company registration: Regular price: 265€ Free
2. Pro plan 3 months:Regular price: 357€ Free
3. Joining through The Nomad Escape? You’ll get a welcome bonus of 100€ on the bank account!
We arranged a dedicated and exclusive account manager for The Nomad
book a short call with Madis on this page! Excited to help you get your business up and running!
Join us at Nomad Island Fest in Madeira, Portugal for seven days of work, play, and learning.
- Join us at The Nomad Island Fest in Madeira, Portugal seven days of work, play, and learning.
- You can expect to learn about how to travel as a digital nomad, how travel has changed over the years and what it will look like in the future. You’ll also get an insight into the psychology of a nomadic lifestyle and how you can apply these learnings to your own life.
- You’ll have time away from work so you can enjoy this beautiful island with other digital nomads while still networking with others who share similar interests. We’re talking activities like surfing lessons or relaxing on our private beach!
- This event is all about meeting new people—you might meet someone who becomes your best friend or finds out about their project that could help yours grow! You might even find out about some cool businesses or services that would make great additions to your portfolio.
- After this event ends we plan on having another one soon after so stay tuned for more information!
Discover more on our upcoming retreats, click on the link below to discover how to get the last deals!