Run an e-Residency company from anywhere on the planet

Incorporation & Reporting

Incorporation

Incorporating a new company can be stressful and time-consuming, especially when you're doing it in a foreign country. Not when you have Xolo on your side! In just a few clicks, your new OÜ will be registered through the Estonian government's API. Our team will take it from here on all things incorporation admin, including applying for and registering your VAT code. Since it's a legal requirement for every Estonian business to have a local address and contact, we'll interface with local agencies as your point of contact and forward all your mail to you. And as an added bonus, you'll be able to claim the European tech capital of Tallinn as your business' official address!

Taxes & Reporting

We know that staying on the sunny side of compliance laws is one of the most stressful aspects of running a business. We’re proud to employ some of the best accounting and compliance experts in Estonia to ensure your company is running by the book. Here are the compliance and reporting activities we’ll take off your hands:

• VAT number application and registration
• Monthly VAT reporting (including OSS for sales of digital goods)
• Monthly salary tax reporting (TSD)
• Annual reporting
• Submission of reports to Statistics Estonia (required by law)

We’ll also keep you updated on any relevant tax laws changes and advise you accordingly.

One last thing: Our team will periodically reach out to ask for specific company information. By responding in a timely manner, we will be able to submit your company’s reports by the deadline so you can avoid further financial penalties.

Banking & Integrations

You have a few options when it comes to integrated business banking with your new OU:

The Fast & Easy Way

If you’re in a hurry and don’t want to overcomplicate things, you can’t do better than opening a Wise multi-currency account. You can open an account 100% online and verification is typically completed within a few days, so you can start invoicing (and getting paid) that much faster!

The More is Better Way

If you choose to bank through our local banking partner LHV, you’ll need to make a quick trip to Estonia to open your account. But all that extra travel can be worth it, as LHV guarantees all deposits up to €100 000. Certain businesses (YouTubers, for example) will require your business location and IBAN to have a matching location, which is another reason to consider LHV. Banking with LHV can also come with opportunities to re-invest your company's profits (see the Investment tab below).

Pro tip: If you decide to spring for the Pro or Growth tiers of Leap, you’ll have the option to integrate any bank account (traditional or neobank) that’s in the name of your Estonian OÜ.

Integrations

*Access to gateways varies based on location. Learn more about banking options here

Payroll

Pay yourself a salary

Because if you can't pay yourself for all your hard work, what's the point? You can choose how much and how often you pay yourself a salary, and we'll keep it compliant on the bookkeeping and reporting side. You can also pay yourself dividends.

Add some helping hands

With your new OÜ, you'll have the option to add employees to your payroll — but only if they're Estonian residents. You can also hire subcontractors from pretty much anywhere.*

*As long as they’re not residing in a sanctioned country, you’re good to go.

Shareholders & Investments

Add multiple shareholders

For subscribers to our Pro and Growth plans, you'll have the option to add multiple shareholders to your Estonian company. Please note that all board members must also be active e-residents!

Build wealth

One of the perks of having a company in Estonia is you don't have to pay taxes on profit that you choose to re-invest. If you open an account with our banking partner LHV you can re-invest your profits and defer tax payments until you withdraw your financial gains as a salary.