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What form of entity is an OÜ (private limited company)?
limited liability company:AS (Estonian: "aktsiaselts") – operates as a public limited company.OÜ (Estonian: "osaühing") – functions as a private limited company, typically recommended for small companies due to its simplicity.For individual business owners, an OÜ is generally recommended, as there’s no specialized format for a single-owner company.Other entity
Can I limit the visibility of beneficial owner's data?
The visibility of beneficial owner data is limited in the following circumstances:If the beneficial owner is a minor.If the beneficial owner has limited legal capacity.If the beneficial owner is at risk.
Which limitations do I have with cryptocurrencies?
limited liability company is allowed to receive payments and make purchases in cryptocurrencies, the related accounting is much more complex to handle. Since customized solutions are in conflict with our desire to standardize and automate processes, we have currently set some limitations regarding transactions with cryptocurrencies.Currently, Xolo takes the following
Are there any business volume limits?
No, there are no business volume limits (incoming or outgoing) in Xolo Go per se.
What are the limits for invoice items per month?
There are no item or amount based limits. We expect 'normal use' related to your expected business plans. If we mutually recognise abnormal usage of the service then we can negotiate on the terms. Otherwise – there'll be no extra charges from Xolo.
Is there a time limit for expenses?
than 2 months. The 2 months will be counted based on the expense document date. If there aren't sufficient funds to process a reimbursement within the time limit, the expired expense document will be deleted from the system. Also, expenses made prior to Xolo Go account activation are not acceptable.
Is there a limit to how much I can earn?
The sky's the limit. Hold up, really? You might think there's a catch, but there isn't! You can invite as many people as you want and accumulate money 50 by 50.
What are the limitations for paying the share capital?
limitations regarding the share capital payment (€2 500) are:If the share capital isn’t paid:The company cannot pay dividends to the foundersThe company cannot increase or decrease the share capitalThe payment of the share capital must come from the company founder. The payment cannot be taken from company
What are the differences between the banking options supported by Xolo Leap?
limit: 50,000 EURMonthly card transaction limit: 100,000 EURYearly card transaction limit: 500,000 EURLifetime limit: 500,000 EURATM daily number of transactions limit: 20ATM one-time withdrawal limit: 500 EURATM daily withdrawal limit: 500 EUR ATM monthly withdrawal limit: 20,000 EURATM yearly withdrawal limit: 100,000 EURSupport
Partnership Agreement (template)
limited to not more than EUR 1,000. The foregoing limitations shall not apply in case of deliberate or gross negligent breach of this Contract by Xolo. The limitation period for submitting any claim against Xolo is 6 months from the act of breach.11.5. Xolo does not bear any liabilities
General Terms for the Service Contract (template)
limitation is not applied in case of deliberate or gross negligent breaches of the Service Contract. For avoidance of doubt, this limit applies also to the possible breach of Intellectual Property obligations by the Professional.10.2 The limitation period for submitting and enforcement of any claims against the Contractor (the limitation
How is an Estonian company managed?
your business card.Please keep in mind that the legal power to manage your company comes with equal responsibility. By law, the founders of a private limited company and the members of the management board shall be liable for damage caused to the private limited company by their action or inaction.
How are liability terms regulated?
limited to the maximum extent permitted by the Estonian laws.The Contractor is not liable for the loss of profit, indirect loss and non-patrimonial damage, incl. any indirect or consequential damages. The total liability of the Contractor for any kind of damages is in any case limited to 20% of the payment
Why doesn't Xolo allow a legal entity as a shareholder?
limitation comes from legal and practical concerns. Namely, since Xolo is an Estonian FIU licensed service provider, we're obliged to detect the ultimate beneficial owners of any company we accept as a customer. While it's easier to achieve this when a company has only one shareholder and he/she
Self-Employed Professionals Working Abroad
limited period.Applicable regulationsSelf-employed professionals working abroad are generally subject to the social security laws of the country where they work. However, under certain conditions, they can continue contributing to the Spanish system during temporary assignments, particularly under EU Regulation 1408/71 or bilateral agreements.Conditions to be considered self-employed abroadResidence
What is the liability of a management board member?
limited liability company (OÜ) in Estonia is responsible for the entire company's activities, taking into account the limited liability nature of the company. If a management board member fails to fulfill his/her obligations through deliberate action or by gross negligence, he/she could also become personally liable (creditors could pursue
Core rules about business trips (operating in Estonia)
limitations regarding the destinations of your business trips.There are no limits to the total time spent traveling abroad for business, provided it has a clear period of duration and you don’t stay in one place for more than six months.Registering holidays as business trips is not allowed. Registering trips
How is liability different with Xolo Go vs my own company?
limited) companies are liable for their own obligations and these are not attributed to the level of the shareholder (except to the extent of share capital investment).
When you join Xolo Go, you and Xolo conclude a partnership agreement. The services are provided to the end-customer by the partnership
What is my relationship with Xolo Go?
limited liability entity (Xolo Go OÜ). On behalf of the partnership, Xolo Go OÜ will sign the agreements with your customers and issue invoices. The name of you, the partner, will be displayed on the invoice alongside of the name of Xolo Go.For the avoidance of doubt, partnership ("seltsing" in Estonian
Core rules about business trips (operating outside Estonia)
limitations to the destinations of your business trips.There are no limits to the total time spent traveling abroad for business, provided it has a clear period of duration and you don’t stay in one place for more than six months.Registering holidays as business trips is not allowed. Registering trips
Can my Estonian company be a shareholder of another company?
limitations assuming the other company is a legitimate legal entity with transparent business activities. When using Xolo Leap, our customers have some limitations due to the standardized nature of our service. Namely, your company is allowed to have a minority (max 20%) share and no controlling rights, in a start
What additional services can be executed by Xolo?
limitations apply) €69Formation of a voluntary equity reserve €149Internal Accounting Rules €149Sworn translation for Articles of Association €149 Prices applicable to Starter, Standard, Pro, and Premium customers Assistance in the audit of the company's annual reports €60/hourRevision of already submitted reports to EMTA (VAT, TSD report incl. missing documents
🩺 Social security contributions, health insurance, and professional association memberships
year if you are the only insured, plus EUR 500.00 per household member (spouse and/or child under 25) whose annual income is not higher than the annual minimum wage. This limit rises to EUR 1,500.00 if the household member has a disability.If you have health insurance with copayments, these will not be deductible
Do you accept customers from all countries?
limitations apply due to international sanctions, legal obligations, and internal policies. At the moment, we are unable to support customers/business links to the following countries or territories:AfghanistanBelarusCrimeaCubaIran, Islamic Republic ofIraqMyanmarNorth KoreaRussian FederationSyriaVenezuelaPlease note that the list is subject to change. Note that should you proceed with transactions involving the aforementioned
Free Renta 2024 Promotion
limited to the 2024 fiscal year. It cannot be applied to future tax years or exchanged for any other service or discount.💡What if I don’t need to file the 2024 Renta?The promotion is tied exclusively to the 2024 tax year. Even if you don’t need to file
Deductions related to children, dependents, ascendants, and disabled individuals
limits and requirements, consult the current regulations at this link.Large Family Deduction: This benefit applies to the differential IRPF quota, whether positive, negative, or zero, with an additional increase for each child exceeding the number required for large-family status (general or special).Eligibility: Applies to parents or orphaned siblings
Which expenses can I deduct?
always be in your name)Food and beverages (limit of €26,67/day in Spain and 91,35€/day abroad and always and always accompanied by proof of payment by credit card.)Social Security contributions (the bank receipt is enough)Accountant fees (your Xolo receipt will be automatically uploaded on our platform)
What additional reporting is required while selling physical goods and will Xolo assist me?
limitations. While Xolo can assist with general tax filings and VAT reporting, some specific requirements, such as managing inventory or complying with product-specific regulations, may fall outside our current scope. We will provide detailed guidance on what we can support and help you navigate the process of selling physical
Do I get my own company with Xolo Go?
limited liability company that belongs to Xolo.This means that using Xolo Go does not provide you with a company or legal entity that you have direct control over and are a shareholder of. Thus, you cannot use Xolo Go for getting a business address, nor can you state Xolo Go as a legal
Who needs to file the Income Annual Tax Report?
limits as the regulations are updated each year, so it is possible that these amounts may also change.In summary, all self-employed individuals are required to file the return, even if they have no income. Note: This service is not included in your Xolo subscription on the Starter and Global
Who can be a management board member?
limitations (except for the countries not marked with * in this FAQ article) If you do not run your company physically in Estonia, you need a local contact person to be assigned in Estonia who is authorised to receive procedural documents in the name of the company (as a 'messenger'), if the documents
How much am I responsible for paying in taxes with the flat rate scheme?
period for the purpose of exercising arts or professions;if an activity previously carried out by another person is continued, the amount of the related revenues and fees made in the tax period preceding that of recognition of the benefit does not exceed the limit that allows access to the scheme.
What is the difference between Xolo Go and Xolo Leap?
limitations in the EU and worldwide.With Xolo Leap, you can start and run your own EU-registered company for a location-independent business. You can build your brand and run your business online from anywhere in the world. You will benefit from using a secure digital login and signing of an Estonian
Which business services can I purchase?
Xolo)Hosting services (e.g. Amazon, AWS)Domain, trademark, and patent registrationExternal certification and auditing servicesThere are no limitations to the origin of the service providers, or to the number of services purchased per month/year as long as your company needs the services, and has sufficient resources to cover the costs.
What is an insufficient equity situation before Feb 1, 2023 establishment?
limited company should not fall below one-half of your company's share capital. If this criterion is not met, you have a so-called "insufficient equity situation".The value of your company’s net assets (total equity) is reviewed by the registrar at least once a year - it usually
Can you give me some ideas to help me get the word out?
happen to see crying into a pile of expense documents at your favorite coworking space.Those are just a few ideas to get you started, so feel free to get creative. There's no limit to how many times you can use the code so the more you refer, the more you earn!
🍜 Food & drinks
limits depending on whether the expense is in Spain or abroad, as well as whether it includes an overnight stay or not:In Spain: €26.67 or €53.34 with overnight stayAbroad: €48.08 or €91.35 with overnight stayHow to justify them?They must always be given in catering and hospitality establishments, and supermarket
Can I invest from my Estonian company?
limited. When using Xolo Leap, investment activities are supported in Pro and Premium service plans and your Estonian company is allowed to make the following investments:Buy-sell shares in publicly traded companies and funds (LEI code requirement)Buy-sell cryptocurrencies for investment purposes onlyInvest in start-ups or other
Why was my expense document rejected?
view all rejected expense documents — as well as the reason(s) for rejection — in the Xolo Go Dashboard. Simply navigate to the "Expenses" section and locate the "Rejected documents" tab.Further reading:What expenses can be reimbursed?What information should an expense document include?Is there a time limit for expenses?
What are the rules for paying dividends (operating in Estonia)?
payment of dividends must not impair the company's solvency, this is the responsibility of the board.It is important to ensure that after the dividends have been paid, the equity does not fall below the permitted limit (half of the share capital), taking into account the additional income tax expense.
How can I register for REPEP?
Xolo handles the first two steps. To join REPEP, you must:Register with the Canary Islands Tax Agency through Model 400, indicating that you will join REPEP.Also, be registered with Hacienda.Income control: Ensure that you do not exceed the annual income limit of €30,000.
Personal and Family minimums
limit), live with the taxpayer for at least half the year, and have an annual income below €8,000 without filing a return with income over €1,800.Minimum for Disability: Includes the minimum for the taxpayer’s own disability, as well as for disabled dependents. The amount varies based on the degree
Can I start and run any kind of business with Xolo Spain?
option to manage product sales, although with certain limitations. Not all products are currently allowed, and you can view the restrictions here.For now, we do not support activities related to buying and selling physical products, including dropshipping and Amazon FBA. Additionally, we cannot support business activities that require a commercial license.
Who are considered as related parties?
limited partnerships, procurators, founders until registration of the legal person, liquidators, trustees in bankruptcy, auditors, controllers and revision committees. Directors of branches of foreign companies and managers of other permanent establishments of non-residents are also deemed to be management bodies.(3) The provisions of subsections 1 and 2 apply
Can I start and run any kind of business with Xolo Netherlands?
limited to specific categories. During onboarding, you’ll be provided with a list of supported business types, such as consulting, IT services, creative freelancing, and marketing, to select from. This ensures that Xolo can offer tailored, compliant services aligned with Dutch regulations. If your business type isn’t included, please
What are Extended Producer Responsibility (EPR) regulations and how do they affect reporting requirements in Spain?
limited volume of packaging on the market may be exempt from registration. Specifically, those whose annual turnover does not exceed €100.000 may qualify for this exemption.Non-consumer Packaging: If the packaging is used to contain products that are not sold directly to the end consumer (e.g., packaging used only in production
Can I pause my company?
running costs to zero, but they can be reduced. For Xolo Leap customers in this situation, we might be able to offer you a discount for a limited time. Please contact us at support@xolo.io to learn more about this option and we can discuss the best possible solution for you.
OSS (One Stop Shop) for autonomos in Spain
long as it is done within the established deadlines.What are the limitations of the One-Stop Shop?It only applies to B2C operations (business to final consumer).Registration is required for each specific regime.It does not exempt from fulfilling other tax obligations in the country of origin or in other Member States.
How much can I pay in dividends (operating in Estonia)?
limited to the profit the company has earned during the last financial year(s) and which has not yet been paid out. The minimum amount is 0. As an example, let’s assume the company:earned the profit of €10 000 in 2017, distributed dividends (incl. taxes) of €6 000 in 2018earned
What are the requirements for accessing the flat rate scheme?
limited liability companies or joint ventures, which carry out economic activities directly or indirectly attributable to those carried out individually;persons whose activity is exercised mainly towards employers with whom employment relationships are in progress or employment relationships had occurred in the two previous tax periods or towards subjects directly
Who is required to file the personal income tax return (renta)?
limits mentioned above will be evaluated to determine your obligation. If you were not in Spain for more than 183 days in 2023, you must declare your income as self-employed in Spain in your country of tax residence, and you may not be required to file the income tax return
How much can I pay in dividends (operating outside Estonia)?
limited to the profit the company has earned during the last financial year(s) and which has not been paid out yet. The minimum is 0. As an illustration, let’s assume the company:earned a profit of €10 000 in 2017, distributed dividends (incl taxes) of €6 000 in 2018,earned
What is an insufficient equity situation after Feb 1, 2023 establishment?
limited company should not fall below one-half of your company's share capital. If this criterion is not met, you have a so-called "insufficient equity situation".The value of your company’s net assets (total equity) is reviewed by the registrar at least once a year - it usually
What are the rules for paying dividends (operating outside Estonia)?
duties).The payment of dividends must not impair the company's solvency, this is the responsibility of the board.It is important to ensure that after the dividends have been paid, the equity does not fall below the permitted limit (half of the share capital), considering the additional income tax expense.
Modelo 720 - Informative tax return on goods and rights held abroad
limits. Nevertheless, due to the information provided in the declaration, it is possible that additional taxes may be generated to consider.Is this form included in my Xolo subscription?No, it’s not included. If you’ve subscribed to the "all-inclusive" renta plan for the current year with us and are required
What's the difference between Xolo Go & Xolo Leap?
owning the company yourself, while Xolo Leap allows you to set up a private limited company of your own. However, there are also a number of other differences as well and we would advise you to take a look at the complete comparison between Go and the different Leap price plans.
What is the required share capital and when do I need to pay it?
limited companies can no longer be established without making a share capital contribution. Upon establishment, the €1 share capital must be paid directly from a personal bank account to the company's bank account.For companies established before February 1, 2023, the option to reduce share capital remains the same after
What product sales activities does Xolo support?
limit of 10,000 euros outside of Spain). This includes a wide range of products, as long as they comply with the relevant tax regulations.Physical goods sales activities Xolo does supportXolo can provide services for the following product sales activities, as long as they involve transformation or production:Production and sale