How to start a company in Estonia for productive engineers

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Күн бұрын

Пікірлер: 47

@hdubbs9174 2 жыл бұрын

Thank you for your efforts--your production values are wonderful, but the way you consolidate information really sets you apart. The tags that serve as a "loading" bar is a very nice touch. Your channel is a real gem! Also is that a d20 shirt? It's very cute! Best of wishes to you, H

@nicolevdh 2 жыл бұрын

I really appreciate this encouraging comment. Thank you so much!

@dayana6811 2 жыл бұрын

Thanks so much for this info, I knew about the Estonian Residency but this will make things easier!!

@nicolevdh 2 жыл бұрын

You're welcome, Mica! I was also very relieved when I found Xolo. No more worrying if I'm getting the laws right!

@JavitoTag 2 жыл бұрын

Love the video and the duration. Thanks a lot for sharing!

@nicolevdh 2 жыл бұрын

Thanks! Happy you liked it! :)

@Ciph3rzer0 Жыл бұрын

In the US you can deduct your expenses, including equipment. Money that you reinvest into the company isn't taxed. It's not a unique Estonia thing

@liv-oi6vg Жыл бұрын

As I understand it there's a small mistake: You need to pay the e-residency fee once every 5 years to renew it, instead of never again.

@sinxenon3181 2 жыл бұрын

Thank you! Really useful video!

@nicolevdh 2 жыл бұрын

Glad to hear it! :)

@giftegwuenu 2 жыл бұрын

Congrats on 1k!!!! 🎉Thanks for sharing this I keep learning new things from you.

@nicolevdh 2 жыл бұрын

Thank you so much!! I'm glad to have met you through this KZbin thing.

@CreatrixTiara 2 жыл бұрын

The Australian tax rules for deductions are pretty friendly - hell if anything I've managed to get more deducted than I thought. They also have a tax-free threshold where if you haven't hit that earning cap in a tax year, then no taxes for you. (Centrelink/social security is a whole other story)

@nicolevdh 2 жыл бұрын

Hi - I'm Australian, so I've had the opportunity to compare Australian taxes with Estonian ones, and the Estonian system is significantly easier both to understand and to navigate without needing to have a physical presence in the country. I was also talking more about corporate taxes than personal taxes in this video, since it's about starting a company.

@suyelahmad2376 5 ай бұрын

Thanks ❤

@darrenelkins5923 2 жыл бұрын

Great stuff. Thanks

@nicolevdh 2 жыл бұрын

Thanks again! This was a bit of a different video.

@andresencolombia 9 ай бұрын

please share some more information regarding stonian companies, like which type of company can be suitable for freelance software developer or for somebody who does trading or both and how about droppshipping. Thanks !

@robertchen214 Жыл бұрын

Hi,Nicole!Thanks for the great video! I have a question about company type. What is the difference between a private limited company and a sole proprietorship in taxation or business？ I prefer sole proprietorship because I can get a residence permit for less money，but most digital nomad perfer private limited company. It really confuses me.

@LittleBigPoet Жыл бұрын

Thank you for this video. If I understand, E-residency helps with paperwork but you still pay local taxes in whatever country you're in, which is fair enough. I was wondering if this is still useful for a business selling online courses, or if it is only useful for freelancers??

@rockorosso 5 ай бұрын

hi Nicole, I am wathing your video quite late, so i miss the chance of using the link to register in xolo, any way to get it?

@DesiInWonderland 2 жыл бұрын

Hey. Thanks, Nicole, for your video. I am current resident of Germany and looking to start a company in Estonia but I am bit confuse in some of the stuff. 1.) For ÖU, you need to have 2500 capital. Do we need to deposit them beforehand, or this is something which we can at some later point. 2.) If I am earning less than 40k euros per annum. That means I don't have to apply for VAT, but can I do busineess with other EU countries without VAT number ? I know it is a tax related question, but you can answer based on your experience. I will not take it as a tax advise. 3.) As long as I am not taking any money out of My company, that means I don't have to pay any Tax on my yearly profits. Am I right ?

@nicolevdh 2 жыл бұрын

Hey! 1) No, you can postpone this payment. 2) There are other reasons why you might need VAT that are not related to the amount of money you earn. The country you're in could also have specific rules about it, beyond the standard EU rules. Check out this page: europa.eu/youreurope/business/taxation/vat/vat-rules-rates/index_en.htm 3) Not exactly. You pay no taxes on REINVESTED profits, meaning you have to spend the money towards growing your business. www.e-resident.gov.ee/taxes-in-estonia/ I really recommend you speak with the Xolo team. These are the sorts of questions they can help you with, and you are better off hearing it from experts like them rather than from me! :)

@bboure 2 жыл бұрын

Thanks for this great video! I just opened my OÜ as well! I do have a question though which you might be able to help with since you lived in the Netherlands; and it might help others at the same time. I am currently living in Spain but I am considering moving to another country soon (one of the reasons I chose Estonia for my company; I wanted a remotef-riendly and location independent solution). On my list of possible next destination is: The Netherlands! I was wondering if you could advise on a few things: How did you setup your "local" tax situation and pay yourself a salary (in NL)? i.e.: Should I become a freelance (ZZP) and invoice my own company in Estonia? This is my first intuition, but I'm a bit worried about triggering Permanent Establishment and all the consequences it has. Could you share your own experience on that matter? Bonus question: How about paying dividends? Thank you! P.S.: I also used Xolo and used you referral link, I hope you got your Bonus. :)

@nicolevdh 2 жыл бұрын

Sure, I can share what I did! I did all the taxes myself. I created a B.V. (Private limited company) because ZZPers can't use the 30% ruling, which is what makes working in the Netherlands attractive in the first place. Having an Estonian company won't stop you from having to pay taxes as an individual in whatever country you're a tax resident of, which for me was the Netherlands until recently. So in my case, I WAS a Dutch tax resident and paid Dutch taxes (though under the 30% ruling). You're always going to have to be a permanent resident somewhere, and with the 30% ruling, the Netherlands was good enough for me. After it ran out, I moved to Portugal and am now under the NHR tax regime, which is also really good. Thanks for using the link! Good luck with the possible move! :)

@YasarHabib Жыл бұрын

Hi Nicole, do you have an updated link for Xolo?

@nicolevdh Жыл бұрын

Hi Yasar! The link is still up to date: www.xolo.io/ref/NICVAN2 Actually, it's even better now than what it was when I made this video. Not only are they paying the company registration fee (265€) but they'll also give you 3 months of Leap Pro for free (378€)!

@nates3361 Жыл бұрын

Hey Nicole, thank you so much for this video! Do you have to pay taxes in NL with this setup on your freelancing income? Do the NL authorities even need to be aware of it?

@nicolevdh Жыл бұрын

When I was a Dutch tax resident (I'm one no longer), yes, I had to pay taxes in the Netherlands. Yes, the Dutch tax authorities should be informed of income you earn if you're a tax resident.

@fifec8187 2 жыл бұрын

Thanks for this video. I have an Estonian OÜ and a wise account. I am a EU citizen. It seems very hard to get a Estonian bank account because of their rule of having strong ties with Estonia. How did you manage to get one?

@nicolevdh 2 жыл бұрын

Hey! Doing business in Estonia counts as having strong ties. Xolo has a relationship with LHV, so it probably helped that they vouched for me and arranged everything for me so that I only had to turn up and sign paperwork.

@fifec8187 2 жыл бұрын

@@nicolevdh thanks a lot for your quick reply. I will explore the oxolo way

@signoreranocchio1401 2 жыл бұрын

sadly I missed the 31st March 2022 deadline! :(

@nicolevdh 2 жыл бұрын

Awww, that's too bad. You can still use the code to sign up, though you won't get the special discount. But I still recommend starting a company in Estonia if you're interested -- it's been really helpful for me.

@fmkoba 2 жыл бұрын

hey Nicole, one more for your upcoming AMA, you have your company in Estonia, so I presume your company’s bank account is also from there, but don’t you pay taxes again when wiring your money to the country you’re currently living in?

@nicolevdh 2 жыл бұрын

Hey! I might as well answer here, in case others have the same question! Yes, I also have an Estonian bank account in my company's name. My company doesn't pay taxes on wages (they are an operating expense), so there is no tax due to Estonia when I pay myself as an employee. Then I, the individual, do still have to pay income taxes in the country I live in (the Netherlands, at least for now).