Got questions? We have answers!
Here are some of our most frequently asked questions,
so you don't have to wait to find answers.
Xolo Estonia offers all the elements to run a company with ease.
Xolo self-service enables you to:
We'll keep an eye on your accounting, and take care of the taxes and annual reports on the background. You’ll also have a dedicated point of contact in Xolo, so we’re always just an email away if you have any questions.
As the owner of your business, you’ll need to let us know about your company related bank accounts and payment gateways. At least once a month you’ll create sales invoices and upload expense documents so we can keep your accounting above board. It’s all easily done in your Xolo Estonia dashboard.
Xolo is a perfect fit for micro (one person) and small companies that provide professional or digital services.
Xolo reviews each company case by case. But in general, we can’t provide services for businesses that sell physical goods or offer financial services (crypto, crowdfunding etc.).
With Xolo you can use the following payment gateways -
As you're the official representative of your company, only you can apply for a payment gateway account when needed. And if you start using payments through either PayPal or Stripe, please let us know beforehand, as we'll need access to your transaction data for accounting purposes.
You can use PayPal for invoicing and collecting payments from customers and making payments to suppliers from your business bank account.
Support for PayPal enables us to synchronize your latest PayPal transaction data and display it in your Xolo self service. Xolo displays your current PayPal account balance under 'Banking'.
Xolo fully supports your use of Stripe to collect payments from your customers for selling both professional services and digital products, and API integration with their service means that up-to-date transaction data is always available in your Xolo self-service under your 'Banking' section.
Setting up an account
Before creating an account, please be aware that payment gateways are altering and strengthening their KYC requirements constantly, and it's challenging to open a payment gateway account as a micro-business without a past track record.
When you've initiated the application process and are asked to submit data/documents about your company, please inform us and we'll assist whenever possible. However, keep in mind that while Xolo supports your use of the services listed above, they are still independent third-parties that reserve the right to choose their customers and Xolo can't influence their internal onboarding processes.
Xolo executes the following activities on behalf of your Estonian company:
Technically, you can invest but your options are limited. When using Xolo Estonia, your Estonian company is allowed to make the following investments:
This means the following investments are not allowed (not an exhaustive list):
For investing and lending platforms a BUSINESS ACCOUNT is required to open for your company.
Advice regarding investment opportunities is beyond our competence. But there are other professional service providers you can turn to.
For accounting purposes, you would need to provide us a balance report or statement with the total value of the investments on a yearly basis.
You, as the sole board member, hold ultimate responsibility for the overall legal compliance of your company. It is of the utmost importance that there is trust between you, as our customer, and us, as your service provider.
We ensure that our accounting and compliance are executed correctly by implementing best practices and procedures. We stay up-to-date with laws and regulations, and have regular contact with authorities to make sure Xolo accounting practices are compliant.
If at any point, you make any one-off errors, the Estonian authorities will normally allow you to correct the mistakes and you won’t be fined. If, however, you try to hide taxes, or avoid correct legal processes, you will be held responsible and punished accordingly.
Yes, we do. Once you're a paying customer and logged in, you'll be able to see your company data through an interface which we call self-service. In self-service you're able to create and send invoices straight to your customers, and also upload expense documents. You'll have an overview of all your company's transactions (incoming and outgoing), and live bank balances.
You'll also have an overview of all your company documents, and you can also register your business trips.
From time to time our Xolo Estonia users require additional services to help them run their businesses more effectively. We at Xolo are more than happy to assist with these services for a reasonable fee.
*A postal fee will be added if original documents are required
20% VAT will be added to all prices quoted above.
To order any of these services, please contact us at firstname.lastname@example.org