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What is Xolo's legal role in my Xolo Leap company?
company is required by Estonian law to appoint Xolo as a 'local contact person' in your Xolo Leap company, Xolo is not an official board member of your company, nor is any individual member of staff within Xolo.This means that Xolo cannot represent your company, and cannot make decisions or take
Do I get my own company with Xolo Go?
Xolo Go OÜ, an Estonian 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
Can my other team members also get access to my company's Xolo Teams account ?
Yes, you can have multiple team members operating on your company's Xolo Teams account. You can add a new team member by going to: Settings > Team members > Invite.
What are the compliance activities executed by Xolo on behalf of my company?
Xolo executes the following activities on behalf of your Estonian company:Company registrationAnnual reportingMonthly salary taxes reporting (TSD)Applying for and registering your VAT numberMonthly VAT reporting (including OSS only for digital sales)Registration and managing the company workers (including the owner of the company) in the official Employment Registry
Does Xolo Teams accept companies from all countries?
We support most of the countries in the world as the company's registered location. However, due to our internal policies, there are some countries that we are not able to support at the moment. If you have questions about your company's location, please contact us via teams@xolo.io.
How is liability different with Xolo Go vs my own company?
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. Considering
How does invoicing work with Xolo Teams?
Transacting parties in the invoice are your company and our company (Xolo Teams OÜ). With Xolo Teams you gain control over invoice generation, as the Teams platform enables companies to issue invoices for their accounting every time there is a need to make a payment to contractors.
What are the taxes I need to pay in Estonia when receiving funds from the company (operating outside Estonia)?
company, Xolo assumes the company is an Estonian tax resident that does not have any foreign permanent establishment. If correct, please follow the principles below. If this is not correct (anymore), Xolo cannot provide support for your company, and you need to find an alternative service provider. If you operate
How is an Estonian company managed?
company with Xolo Leap, you'll receive a private limited liability company (OÜ or osaühing in Estonian) which is registered in Estonia. You will be the sole shareholder and management board member of the company, owning 100% of the shares and having the full control.An OÜ is the simplest format
Can I use Xolo Leap services if I already have an existing company in Estonia?
Yes! Xolo Leap now supports the customers who already have an existing company in Estonia. To start, please send us an email at support@xolo.io and we'll guide you through the process.
Can I remove Xolo Go name from invoices?
Xolo Go the official company used for invoicing is "Xolo Go OÜ", then also the name of Xolo Go needs to appear in the official documentation, including invoices. So the company name on invoices is: "Xolo Go OÜ - Firstname Lastname".In order to make your brand more visible on invoices
Do I need to have a local director?
company. You retain full control over all business decisions.By using Xolo, your company’s legal address is registered in Estonia. Therefore, there is no need to appoint a contact person. Official rulings and postal mail sent to your company are forwarded to you by Xolo for as long as you remain
What are the rules for paying dividends (operating outside Estonia)?
company, you may also have the right to this passive proprietary income. Xolo assumes your company is an Estonian tax resident without a foreign permanent establishment. If correct, please follow the principles below. If it is not correct (anymore), Xolo cannot provide support for your company, and you need to find
What about the company's tax-residency and double taxation?
Xolo Leap company will be an Estonian tax resident and will provide you with the necessary tax compliance and reporting in Estonia.Typically the tax residency of a legal entity is determined by taking into account the incorporation address, the location of actual business processes, customers, and value creation, and the location
Can my foreign company be the owner of the Estonian company?
Officially, yes it can. However, Xolo currently supports only companies owned by Estonian e-residents.
What is the liability of a management board member?
company with Xolo Leap, your company is a limited liability company (OÜ, osaühing in Estonian). This means you, as a shareholder, are legally responsible for the debts of your company only to the extent of the nominal value of your shares.However, apart from being a shareholder, you are also a management
Why doesn't Xolo allow a legal entity as a shareholder?
Xolo currently only supports setting up companies with an individual as a shareholder and only an Estonian e-resident can be added as a shareholder once the company set up is finished. This limitation comes from legal and practical concerns. Namely, since Xolo is an Estonian FIU licensed service provider
How does VAT work with Xolo Teams?
Xolo acts as an intermediary between your company and your contractors. Xolo OÜ, located in Estonia, will be your transacting party, which means that the invoice generated will be from Xolo Teams OÜ and bear a valid EU VAT number. According to the VAT rules the following scenarios are possible
What's the difference between Xolo Go & Xolo Leap?
The main difference is that Xolo Go provides you with a framework that allows you to use the features of a registered company without owning the company yourself, while Xolo Leap allows you to set up a private limited company of your own.
Do I need to do annual reporting?
company has been established through Xolo, then the annual reporting is a part of our offered price plans. Xolo will review your company’s accounting records and prepare the annual report for your review and signature. To enable this, all required information must be submitted in the annual report task
Can I invest from my Estonian company?
Xolo Leap, investment activities are supported in the Pro and Premium service plans, and your Estonian company is allowed to make the following investments:Buy and sell shares in publicly traded companies and funds (LEI code requirement).Buy and sell cryptocurrencies for investment purposes only.Investing in start-ups and other
How much is it to set up a company?
company registration in Estonia: €265 (paid via Xolo Leap)State service fee for company online registration in Estonian Business Registry: €25 + VAT (paid via Xolo Leap)Xolo Leap first monthly fee, depending on a plan:Starter: €59 + VATStandard: €99 + VAT Pro: €139 + VAT Premium: from €259 + VAT E-commerce support
Who can be a management board member?
company (as a 'messenger'), if the documents cannot be delivered directly to the management board members. Xolo serves this function for your company by default.Please note that all management board members of an Estonian company are listed in public records, available for anybody interested, so you cannot expect to keep
How can I receive funds from my company (operating in Estonia)?
Xolo Leap customer, if you own and operate an Estonian company while being a tax resident in Estonia, there are three main ways to receive funds from your company:Board member remunerationEmployee salary DividendsThere is no obligation to pay yourself board member remuneration, employee salary, or dividends. Especially in the early
Partnership Agreement (template)
Xolo (e.g. a group company). The Professional hereby authorizes Xolo to agree on the terms and conditions, enter into the agreement, and amend or terminate the agreement with the third-party provider of the Support Services.4.3. The fees for the Support Services (hereinafter the Support Fee) shall be stipulated in the price
Can I get a payslip for the salary my company pays me?
Xolo doesn’t create payslips by default, but we can create them if requested. However, these might not be as useful as you'd need, as they can only show that your company paid you, for example, €3000 (from which no taxes were withheld in Estonia), but we can’t tell
When can I pay dividends?
Xolo and approved/signed by the owner of the company.A standard financial year for your company via Xolo Leap starts on January 1st and the financial year is 12 months long.For example, if you start your company after July 1st (in Q3 or Q4 of the first year) then Xolo consolidates
What happens to the company in the case of death?
company via Xolo Leap, you are the single owner and management board member of your company. In the event of your death, the company will temporarily have no official board member i.e. nobody can make decisions, sign documents etc on behalf of the company. To solve this, your official heir
Can my Estonian company be a shareholder of another company?
Xolo Leap, your company can invest in start-ups and other private companies provided that:The investment is supported under an investment agreement outlining the parties involved, investment structure, financial terms, and other relevant details.Your company receives a minority stake, typically no more than 20%, without controlling rights.The company you invest
Is e-Residency safe and how secure is my company in Estonia?
pride. And even recently when the security of ID-cards was questioned, they were quick to react, maintaining the security of their citizens, residents and e-residents.Running a company with Xolo Leap is just as safe, as Xolo fully complies with Estonian Tax Authorities and with Estonian anti-money-laundering policies.
Are company's shareholder(s) names public in Estonia?
business registry who is the 'ultimate beneficial owner' (UBO) of the company. If you're a client of Xolo Leap and have a single shareholder company, you are the ultimate beneficial owner. The purpose of the regulation is to increase the transparency of business operations and avoid potential money laundering.
What are the rules for paying dividends (operating in Estonia)?
company, and it has been registered properly in the Estonian Business Register. Xolo can assist here.The company has earned profit during the last financial year(s) and has not paid it all out as dividends in the previous years.The company has submitted an annual report to Estonian authorities about its financials
What are the share capital requirements for companies' establishment before and after Feb 1, 2023?
companies established through Xolo, the share capital will automatically be registered as €1. You may choose higher share capital if your company has higher financing needs. This means that private limited companies can no longer be established without making a share capital contribution. Upon establishment, the €1 share capital must
Can I pay share capital via Wise?
company or making capital injections into an existing entity, your Wise account can receive these funds.For Xolo Leap customers:Companies established before February 1st, 2023 may face additional service fees for share capital registration with Xolo. Consult the Xolo pricing page for complete details on any applicable charges.Why use Wise
How can I close my company and how much does it cost?
Xolo user?If you already have an Estonian e-resident company that you’d like to liquidate, Xolo can assist you with the process. Our fee for liquidation services is €499 + VAT.To proceed, you will need to submit the following documents and reports:Balance sheet as of a specific date.Income
How long does it take to open up my company and start the business?
Xolo Leap and Wise:1. e-Residency (if needed)3-4 weeks to receive your e-Residency card2. Company registration with Xolo Leap~24 hours once you have e-Residency3. Wise Business accountTypically, 1-5 business days for verification, although verification times can vary, then immediate transaction capabilityTotal time to operational
What additional services can be executed by Xolo?
company changes Adding Xolo as a contact person in the Business Register €29 + state fee (€25)Share capital registration €49 + state fee (€25)Adding an additional board member €69 + state fee (€25)Company name change €69 + state fee (€25)Company address change €69 + state fee (€25)Share capital increase €69 + state
Can I start any kind of business with Xolo Leap?
developersSelling physical goods online, including dropshipping and Amazon FBAWe cannot support business activities that require a license in Estonia such as financial services, travel agencies, gambling, the sale of alcohol, etc. Xolo does not support companies dealing with cryptocurrencies or who hold ICOs to get funding at the moment either.
How does the VAT system work?
support@xolo.io, so we can assess your company´s need for the VAT number in Estonia. The VAT number registration is available as an add-on service for €69 + VAT. Once your company has a VAT number, Xolo Leap will handle all regular monthly VAT reporting in Estonia on your behalf.
What is the difference between Xolo Go and Xolo Leap?
Xolo Go enables you to use the features of a registered company without owning the company yourself. You get almost all the functionality of a fully-fledged business, including a business account, billing (incl. VAT), expense management, and withdrawing money to personal bank account. With Xolo Go you can provide
How does Xolo handle contractor taxes?
taxes on payouts if your contractors have Estonian tax residency.You should also be aware that there are no dividends available for contractors with Xolo. The legal format of operations between Xolo Go and contractors is a partnership, not a company that your contractors own by themselves or together with Xolo.
How can I add beneficial owner in e-Business Register?
company. What you need to doUnfortunately, Xolo cannot submit this data on your behalf; which is why we put together these simple steps for you to enter the beneficial owner information. You can follow these below:Visit the Estonian e-Business RegisterSign-in using your digital ID (PIN 1)On the home
How can I pay myself board member remuneration (operating in Estonia)?
company. For more details, see the Xolo FAQ article Why do I have to pay salary when I pay dividends?Board member remuneration payment processMake the payment from the company account, indicating ‘Board member remuneration’ in the payment description, as we can detect the necessary information on your bank statement
How can I pay myself a salary (operating in Estonia)?
company. For more details, see the Xolo FAQ article Why do I have to pay salary when I pay dividends?.Salary payment processSign an employment contract (digitally) before the first salary payment. We can share a potential draft, or you can search for a suitable option HERE.Based on the contract
What are the monthly fees for Xolo Leap plans?
Once you've set up your company and paid the necessary state fees, depending on the plan, you'll be paying the following monthly fee:Starter: €59 (+VAT)Standard: €99 (+VAT) Pro: €139 (+VAT) Premium: from €259 (+VAT)Check out our pricing page to see our full product comparison and
How much control do I have over my business and Xolo Leap processes?
You have full control over your company setup, banking, business records and tax reports via secure authentication and digital signing.There aren’t any middlemen here - you run your business, and we take care of the necessary administrative tasks.
Can I switch to another service provider?
company from outside Estonia, you would also need to find a new contact person (a legal or individual) to replace Xolo in the official records of your company. It’s a bit more complex to switch to a new accounting service provider, but if it’s something you need, we’ll help
Can I invest in, or trade in, cryptocurrencies?
company's profit in cryptocurrencies. When using Xolo Leap, investment activities are supported only in Pro and Premium service plans. However, please let us know once you have opened a business account with any of the marketplaces and plan to start trading. Before investing, you might also want to make
Is the Starter Plan suitable for me?
company registration (or help with switching to Xolo), an intuitive online platform, integrations with different banking providers, and a dedicated team to handle your reporting.You can enjoy the affordable plan until you reach €4,000 in revenues or when the first 12 months go by. What happens next? Well, your
What is Xolo?
Xolo, freelancing is just like working for a company. Don't worry about filing tax returns, filling out forms or downloading invoices for your expenses, we take care of everything, and when we say everything, we mean everything, except working for you of course.What is included in Xolo either monthly
What is Xolo?
Xolo, freelancing is just like working for a company. Don't worry about filing tax returns, filling out forms or downloading invoices for your expenses, we take care of everything, and when we say everything, we mean everything, except working for you of course. What is included in the Xolo
What are Extended Producer Responsibility (EPR) regulations and how do they affect reporting requirements in Spain?
companies must comply with local packaging rules in each EU country where they sell goods, meaning packaging reporting and fees will vary by country.For businesses exporting goods outside of the EU, such as to the UK, packaging reporting might still apply depending on local regulations.Although Xolo does not currently assist
Does Xolo withhold any taxes?
will withhold the relevant taxes on payouts if you have Estonian tax residency. You should also be aware that there are no dividends available with Xolo Go, as the legal form of operations for Go is a partnership, not a company that you own by yourself or together with Xolo.
Do we have to add the VAT rate to the invoice ourselves?
VAT is automatically calculated by our system based on the company details and the VAT number that you input. Xolo manages any VAT obligations related to your business conducted via Xolo Teams.
When can I pay dividends (operating outside of Estonia)?
company can decide when to make the actual dividend payments.With Xolo, actual dividend payouts can occur once per quarter.If all or part of the allocated dividends remain unpaid for three years, the amount is not lost. Instead, it is transferred back to retained earnings on the company’s balance sheet
What services does Xolo Leap provide?
Xolo Leap offers all the elements required to set up and run a company with ease. We’ll guide you through the company registration process and assist you with setting up a business bank account. You'll need Estonian e-Residency in order to complete the process. Once everything has been
Does Xolo Leap have an interface where I can see an overview of my company?
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
Leap Referral Campaign – Summer 2025
Xolo Leap customerYour subscription is fully paidYou have no overdue invoices, no outstanding debts, and your company is not under suspension or reviewReferred users must be new to Xolo Leap and must not have previously registered for or used the service.How it works:Share your unique referral link with freelancers
How do I connect my Stripe account to Xolo Leap?
company's accounting and reporting. To grant us API access:Log in to your Xolo Leap self-service.Navigate to the 'Banking' feature and 'Accounts' tab.Click 'Add account' button and select 'Connect your Stripe account'.Proceed with confirming the information and next steps.You will be redirected back to your Xolo Leap self
How can I get a VAT number and how long does it take?
Xolo Leap can assist you with registering a VAT number once your company is officially established. It’s important to have a valid reason for VAT registration and to be able to clearly explain your planned business activities if needed. Having some ongoing operations in Estonia also helps, as it shows
Can I start a company without a business bank account?
company can operate without a business bank account.If your business is registered with Xolo Leap, it is acceptable to pay suppliers from your personal bank account or credit card temporarily, provided that the expenses are business-related and the suppliers have issued invoices to your company. You must collect these
Can I convert Xolo Leap account into Xolo Go?
company and are responsible for it as a shareholder and a board member. With Xolo Leap, you will continue carrying those duties until you close down / liquidate the company.Please also note that as long as you're Xolo Leap customer, you'll be responsible for paying Xolo Leap monthly fee according
Which limitations do I have with cryptocurrencies?
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 view on our customers
What can I do in Xolo Leap self service?
Xolo team. The information you upload (or don’t upload) is directly tied to your company’s accounting. For example, if you don’t upload all your company’s expense documents, we won’t be able to file your taxes for you. Not filing your taxes can lead to penalties
What's included in Xolo Leap service?
Xolo Leap provides all the features you need to start and run your own business online. Once your company has been set up, we'll take care of the support functions of your business, leaving you free to focus on the core aspects of your business. Xolo executes numerous tasks
Can I pause my company?
company cannot be 'paused'. It can be either active, in dissolution, or permanently closed. However, we understand the necessity of an option like this. On one hand, you could terminate your Xolo Leap service agreement anytime you like to cut costs, but in order to keep your company in the business
Is the Xolo Teams fee applied to the amount with or without VAT?
Xolo Teams fee of 5% is applied to the net sum i.e. without VAT.For instance, if your company is located in the EU and the company doesn't have a valid EU VAT number (or the company is an Estonian company with an EU VAT number) then the invoice generated
How can I hire subcontractors outside Estonia?
Xolo self-service indicating that the contract is pending your signature confirmation. In contrast to cooperating with independent freelancers across the globe, your company cannot hire anybody working outside Estonia on a permanent basis as an official employee on your company’s payroll. This triggers the need to register your
Which payment gateways can I use with Xolo Leap?
Xolo can't influence their internal onboarding processes. Please also note the following: - PayPal might require you to have a business bank account with an IBAN from the country where your company is registered (with an Estonian company an EE IBAN is required), since PayPal does not officially work with
What is the process for identity verification?
Xolo we care about the privacy of our users, so this step is managed by Veriff, an external company with high standards in security and data encryption. These photos will only be used to verify your identity and will be stored securely. You will need the camera on your phone
When does my Estonian company need to register for an Estonian VAT number?
company purchases services from outside Estonia (such as software, marketing, consulting, etc.), and your business activity creates taxable turnover in Estonia (Xolo does not support limited VAT registration in Estonia).You purchase goods from other EU countries exceeding €10 000 per year.If your company is established and operating in Estonia
Which business services can I purchase?
company's business activities. Examples include:Marketing and consultingBusiness, IT, legal, and tax advisory servicesAccounting and administrative support services (e.g., 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
💡Utility bills, rent and mortgage
company under your name.Rent (house/flat)The deduction of rental expenses is a controversial issue, as they cannot always be deducted.At Xolo, we treat each case individually: the first thing we do is to review the contract to see if there is any clause in it that specifically indicates that we can or cannot
Special offer for Ukrainian solopreneurs
company registration fees (€446 value) offered in collaboration with the e-Residency program, you must agree to remain a customer of Xolo for a minimum period of 6 months. This commitment ensures that you have ample time to experience the benefits of our services and the advantages of running a fully
What is the difference between employee salary and board member remuneration (not an Estonian tax resident)?
Xolo FAQ article ‘How can I pay myself a salary (operating outside Estonia)?’.Board member remunerationBoard member remuneration is paid to a management board member for performing company management duties. The remuneration must be declared based on actual payments made. If no payment is made, it cannot be declared. There
How does VAT work for expenses?
Xolo Go: if you are based e.g. in Germany as a private individual without having the VAT registration there, and buy digital services from a US company, the seller has to charge the German VAT % on top of the net price. Thus, as the purchase was made as a private
Is there a minimum contract period if I decide to start with Xolo Leap?
free to end your service agreement. Your company won’t be able to use the business address provided by us and you won’t receive digitised mail to your email anymore. Access to your Xolo Leap account, self-service and any other services provided will be suspended within a reasonable timeframe.
When do I need to register a VAT number for physical goods in other EU countries?
Xolo cannot submit VAT declarations to foreign tax authorities on your behalf. We recommend working with specialized service providers for VAT registration and compliance in other EU countries. Companies such as Global VAT Compliance, Avalara, TaxJar, and Hellotax are known for handling VAT reporting across multiple EU countries.You need to register
How much does Xolo Teams cost?
In exchange for our services, we charge a flat-rate fee of 5% on payouts. There are no hidden fees or monthly subscriptions. You as a company can decide whether the company or the contractor covers the fee.We use a Tier based pricing model. If you reach 15k EUR/mo in
What are the limits for invoices per month?
Xolo plan. Here’s an overview of the limits:Starter PlanPurchase invoices: up to 20 per monthSales invoices: up to 50 per monthAdditional limit: valid for up to 12 months from company establishment and/or €4,000 total lifetime sales revenueOnce this limit is exceeded, your plan is automatically upgraded to Standard
When is my annual report due?
company’s accounting records and prepare the annual report for your review and signature. To enable this, all required information must be submitted in the annual report task list available in the Xolo self-service ‘Reports’ section.To ensure timely submission and avoid delays, please make sure to complete the annual
What is Xolo Leap?
Xolo Leap brings together all the features needed to set up and run your own micro business from anywhere in the world. It provides everything you need to start and run your own business online, incl. company registration, business banking, invoicing, accounting, tax filing and much more.Our product works best
What form of entity is an OÜ (private limited company)?
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 types:FIE – Sole proprietorship with full individual responsibility, which Xolo does not support or recommend.MTÜ – Non-profit organization. Similar to FIE, Xolo does not support
What's the difference of how Xolo handles VAT in Go & Leap
Xolo Go account, then all the related taxes are calculated and charged from your account (or returned to your account) automatically by us, right whenever they occur. For instance, if you sell your services to another Estonian company or a consumer in the EU and collect VAT (value added tax) on top of the net price
What is Stripe and how does it work?
Xolo Leap self-service and our accounting team will also have access to it, which eliminates the need to manually upload monthly sales data.Currently, Stripe allows opening the account only if the owner of the e-resident company resides in one of the countries where Stripe is available. The full
Do I need external auditing?
company is greater than:€6 000 000 in sales revenue or income per year, €3 000 000 total assets as of the balance sheet date, 72 people as the average number of employees. If this is NOT the case, Xolo accounting and tax reporting services will be sufficient to make
Getting started with Xolo
Xolo's comprehensive FAQ to quickly find an answer. Simply start typing the subject of your inquiry (e.g., VAT), and you will see several suggestions covering the topic. Do not forget to log in to see all the available articles.Compliance and reportingXolo executes the following compliance activities on behalf of your Estonian company
In the event of a funding round, would you be able to help with the paperwork?
Xolo can help you find a trusted legal partner in Estonia. However, it's not currently part of our services.We don't support any alternative crowdfunding or external financing initiatives by our customers, except from the single shareholder (share capital or a loan). Such needs are exceptional ones among our existing/target customers and would require a custom solution, going beyond our standardised approach. For instance, as long as you run your company
How can I get an Estonian phone number or domain?
prices by using the code XOLO during checkout until March 6, 2028.DomainYou can purchase .ee domain(s) through Zone.Postal addressAll physical mail you receive will be digitized and forwarded to you via email.All business-related communication costs are considered business expenses and can be covered using your company's money.
What is PayPal and how does it work?
Xolo Leap dashboard. It's not necessary to manually upload monthly statements when you use PayPal, since up-to-date transaction history is always available.Please be aware that PayPal might require you to have a business bank account with an IBAN from the country where your company is registered since
What functionalities are available in Xolo self service?
Xolo has promised to take care of your taxes and compliance, but we can only do this if you do your part, too — by uploading your expense documents regularly and creating invoices exclusively through our platform!With Xchange, you can access a dynamic job board designed to connect freelancers with companies
Get started selling physical goods with Xolo
company sells goods from a warehouse located in another European Union (EU) member state, it must comply with VAT rules applicable to intra-EU transactions. These rules can vary depending on whether the sales are classified as B2B (business-to-business) or B2C (business-to-consumer). To be noted, that Xolo
Do I have to add VAT rate to the invoice myself?
company that has an EU VAT number, then the VAT is marked as 0%. If you add a customer without a VAT number and the customer is located in an EU country other than Estonia, then 24% VAT will be added to the invoice.Xolo manages any VAT obligations related to your business conducted via Xolo
Why is it worth running my business with Xolo Leap?
Xolo Leap can be highly beneficial if you're a freelancer, solopreneur, or digital nomad seeking simplicity, efficiency, and access to the EU market. Here are the key reasons why it could be worth it for you:1. Ease of setting up and running your business remotelyXolo Leap allows you to run your business 100% online from anywhere in the world via the Estonian e-Residency program. It handles complex administrative tasks such as company
Who is responsible for my company’s compliance?
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
How do I complete the additional data step?
companies or other freelancers in Spain. From the third year onwards, you will be taxed at 15%. Please note that if during your first two years you have issued any invoices with 15% IRPF, you will not be able to change to 7%.Schedule your autónomo registration (only for new freelancers)If you are ready to start with Xolo
Create your own invoice
Xolo Teams, you can decide if you’d rather pay your contractors for ongoing projects, or after your project has ended:Open your projectClick Create InvoiceDouble-check the details (contractors, service description, quantity, rates)Eliminate contractors who don’t need to be paid in the specific payment round (optional)Generate your invoicePDF document will be generated for your company
Can I operate freely with company money (e.g., on a year-to-year declaration basis)?
You cannot operate freely with the money belonging to your business (e.g., use this for personal use); your business's money and your own personal money must be kept separate.Xolo will execute monthly reporting, and your business bank accounts must match business documentation (e.g., sales and purchase invoices), which you
How can I pay myself a salary (operating outside Estonia)?
Xolo. A board member may simultaneously receive board member remuneration (for management duties) and an employee salary under an employment contract (for operational duties). You should assess how much of your time is spent performing operational/employee tasks versus management/board member tasks.The principles described above apply to employee salary payments if the majority of time and effort is spent on tasks that directly contribute to the company
Can non-Italian residents use Xolo?
Xolo Leap.Income is understood to have been produced in Italy, and is therefore subject to taxation by the Italian state - except as provided for in international conventions against double taxation - if it originated in Italian territory and derives from:employee, self-employed, business activities, etc.pensions and similar checksreal estate (land and buildings) located in Italy Other types of income (such as, for example, those of companies
When can I pay dividends (operating in Estonia)?
company's balance sheet, so it could be distributed as dividends again in future. The actual dividend payouts can occur not more often than once per quarter.In summary, while the shareholders’ decision about how much to distribute as dividends is made once per year (while submitting the annual report), the actual payments of the declared dividends can occur either as a one-time payment or in parts (Xolo
How can I pay myself a board member remuneration (operating outside Estonia)?
company pays a board member's remuneration to you, and you have provided the A1 certificate* (available before declaring deadline and validity period starting before the payout date), the relevant social tax is not paid in Estonia. Instead, social contributions are due in the country that has issued you the A1 certificate*. Foreign rules and regulations are applicable, and granting social benefits there as well. As a limitation, currently, Xolo
Can I create & send sales invoices to my customers?
Xolo Leap dashboard.You'll be able to choose the invoice type and add a detailed description for the invoice. You can add the project name, the purpose of the project, and other relevant details. When creating an invoice, you can make duplicates from existing invoices, choose your customer from a pre-defined list, and get some assistance with VAT calculations on the way. You can also add your company
What is an insufficient equity situation before Feb 1, 2023 establishment?
company’s equity again next year.However, if the equity requirement remains unmet for several consecutive years, based on our experience, the registrar may issue a regulation obliging you as the shareholder to take concrete action, which usually means additional monetary or non-monetary contributions. The different measures for eliminating the insufficient equity situation are described in the Commercial Law (§ 176 Decrease of assets).Please find more information on the topic from Xolo
What is an insufficient equity situation after Feb 1, 2023 establishment?
company’s equity again next year.However, if the equity requirement remains unmet for several consecutive years, based on our experience, the registrar may issue a regulation obliging you as the shareholder to take concrete action, which usually means additional monetary or non-monetary contributions. The different measures for eliminating the insufficient equity situation are described in the Commercial Law (§ 176 Decrease of assets).Please find more information on the topic from Xolo
Can I use any payment gateways other than PayPal or Stripe?
company's compliance and reporting, and it's much easier to provide us with the data when you use the services that we can support by default. Other gateways often don't have all the necessary data available for export or they might provide the data in an incompatible format which makes it much more difficult for us to take care of your accounting.For these reasons, we decided to narrow the range of supported options
How to upload expenses via the Xolo App?
Xolo App couldn't be easier! From the home page, hit the big plus, and choose whether you are going to take a photo or upload an existing photo (or PDF).After selecting the expense, you can add a quick description to help our accounting team understand how this expense relates to your business. Be sure to select whether it is an 'Out-of-pocket' expense or not. If you've already paid
When and how do I need to provide my expense documents?
company's status, and execute the monthly reporting for the public authorities. You have three options for uploading documents: Forwarding via emailTo forward documents via email, just go to your self-service dashboard and choose ‘Expenses‘ from the left. You'll find your dedicated uploading email address by clicking ‘Upload expenses‘, on ‘Email your expense documents‘ section. Use that dedicated email with your relevant vendors. This is particularly useful for services who might invoice
What are the differences between the banking options supported by Xolo Leap?
Xolo Leap account works with LHV, Wise, Revolut, Payoneer, and Wamo business bank accounts. For more details and differences between the banking options supported, please see the table below:WiseLHVRevolutPayoneerWamoAccount typeElectronic Money account (i)Business bank accountBusiness accountBusiness accountBusiness accountGuarantees on depositsNot applicable. Funds are safeguarded in accordance with UK Electronic Money Regulations 2011 and Payment Services Regulations 2017. Customer funds are held separately from Wise's operational funds in dedicated accounts with established financial
Which currencies are supported by the banking options with Xolo Leap?
Xolo Leap banking partner – essential for businesses with international operations.Full currency capabilities:Receive to local account details in 9+ currencies:Get GBP, EUR, USD, AUD, NZD, HUF, RON, SGD account details (and more) so customers and investors can pay you as if you're based locally. No expensive international wire transfers needed on their end.Receive via SWIFT in 23+ additional currencies:Accept international payments in currencies beyond your local account details, giving global customers maximum
Impatriate Regime - Beckham Law
company in the competent Commercial Register or Register of Cooperatives, unless there has been a telematic verification procedure and there is a document accrediting the provision of services to this company.Develop economic activities of training, research, development and innovation in Spain.You will have to provide supporting documentation of the performance of these activities, unless the residence permit is the authorization itself for training, research, development and innovation referred to in Article 72 of Law 14/2013.In
How can I sign the annual report?
company from the list 'Incomplete reports' (the status of the report should be 'Verified') and click 'view'.Scroll down to the bottom of the page and click 'Next' to proceed with signing the report. Fill 'The date of the completion of the preparation of the annual report is' field with the signing date and click 'Save'.Click 'Add a digital signature to the report'. Please note that you don't have to insert anything
Modelo 720 - Informative tax return on goods and rights held abroad
Xolo subscription?No, it is not included. It has an extra cost. If you are interested in knowing if you need to present this report or have any other questions, please contact ayuda@xolo.io.You can purchase the service on the platform in your dashboard under “Additional Services”.We have gathered some of the most frequently asked questions that may help you understand it better:If I have 3 bank accounts outside Spain and they
Cryptocurrencies
company. You must also register as self-employed if you are not already, and comply with the corresponding tax obligations throughout the year.Can I deduct losses from cryptocurrency operations?Yes. Losses can be offset against gains in the same year. If there are no gains, they can be offset up to the following four years.Do I have to declare cryptocurrencies in the Wealth Tax?Yes, they must be included along with other assets. This applies
How can I create a sales invoice?
company). If you have already added clients, simply choose the one you want by clicking on "Choose client."In the invoice, you can edit:Invoice numberDateDue dateCurrencyBank account displayed on the invoiceLate payment interest rate (can be 0% if not applicable)The activity for which you are creating this invoice (only if you have more than one activity registered)Add a detailed description of the invoice. From the description, it should be clear that