Doing Business in Estonia
Hungary will be the first country on the planet to raise a sculpture of Bitcoin's <strong>mysterious</strong> creator, who will get a life existence size bronze bust in Budapest. The main design plans have been <a href="https://telex.hu/tech/2021/05/31/bitcoin-szobor-latvanyterv-kriptovaluta-blokklanc" target="_blank" rel="noreferrer noopener">uncovered</a> showing a hooded figure concerning both the unknown Satoshi Nakamoto and "individuals of the web."
Posted by Hicham ALAOUI RIZQ on 09 Nov, 2020
Estonia or the cousins of the Finns is a Nordic country located just next to Russia and under Finland with:
An area of 45 225 Km2, Its currency is Euro, It has a population of 1.3 million that is a size of a nation to become a testbed for new technology that could be tested quickly and effectively
Europe's hub for digital knowledge and ease of doing business
Estonia became the world's first country to function as a digital service which is a really unique model at a national government level, Which takes further its state services overseas by its program called e-residency. This means anyone outside of the country could easily register a company online, digitally sign and exchange documents. This program is considered a remarkably powerful asset for anyone's business because it allows you to interact with the European Union without necessarily having to be there.
ICT Transport and Logistics, Business services Machinery and metalworking Electronics Wood industry Food industry
23b Euro GDP in 2017 Currency: Euro 3h to start a company OECD tax competitiveness 20% value-added tax 0% tax on reinvested profits
Estonian startup ecosystem
Nearly 1000 startups Global top per capital Raised around 1B Euro in funding (92% from abroad) Estonian startup visa Supportive ecosystem
Ease of doing business
The cornerstone of Estonian businesses are entrepreneurship and export, that's why the state sticks heavily to creating an attractive business environment by reducing the scale of bureaucracy. Tax reporting is fully filled online
The corporate tax rate in Estonia
As it is clear in the tableau, there is a 0% tax on reinvested profits, which means if the money stays in the company and is not redistributed as a dividend, there is no tax on that profit. The personal income tax used to be flat, but now it is progressive and basically, around 20% and VAT is 20%.
Companies that are registered in the e-business register will be automatically recorded into the taxpayer's registry. In Estonia, all taxes are reported online via E-MTA (E-tax system).