XOLO helps you start & run your one-person company! According to a Statista report on the number of SMEs in Europe, there were an estimated 25.1 million SMEs in the EU in 2018. The vast majority of these micro-sized firms only had fewer than nine employees.
This goes to show that there are many small enterprises out there that are run by one person -which can be very overwhelming. It involves wearing different business hats. For instance, from an accountant, marketer to the taxman. Well, there’s the need for a software that can handle all this. This is where Xolo comes in.
In this piece, we will look at setting up a business in Estonia and how Xolo can help you run your one-person company.
Estonia’s Attractive Tax Laws
Starting a business in Estonia is pretty much an entrepreneur’s dream. It is a unique country in relation to its corporate taxes. It’s probably the only country that has put in place a system that allows corporations to pay taxes only on their distributed dividends. This implies that, so long as your country’s international tax laws don’t interfere, you don’t have to pay taxes on investments or profits while the money is in the Estonian corporation.
Furthermore, up to a certain point in Estonia, your earnings are exempt from taxes. The total tax-exempt salary is established by the number of sales and work carried out by the administrators in the corporation. For this reason, entrepreneurs all over the world have strived to leverage Estonia’s e-Residency program as their link to starting a business in this country. This also allows them to gain access to the EU market.
But there’s one setback.
You need to have an official address in Estonia so as to register your company. Unless you are a resident, the law requires you to have a local contact. Plus, it has to be a person with the authority and knowledge to aid you in going through the Estonian legal and taxation systems. What this means is that you need a platform or a person who can assist you with compliance, reporting, accounting… and filing your taxes.
This is where Xolo Leap comes in.
What is XOLO?
Xolo is an all-in-one Software as a Service (SaaS) platform. It is aimed at solopreneurs. It brings together:
Banking
Accounting
Company formation
Compliance.
A Guide Through XOLO Leap
How XOLO Leap Helps You Start a Business in Estonia
Estonia boasts of competitive corporate tax rates. It also has an advanced digital literacy. For this reason, it is a fertile ground for all entrepreneurs.
When your e-Residency is established, you’ll be in a position to gain access to Estonia’s digital business environment. This is regardless of where you are in the world. Xolo Leap will get you through the procedure of business formation. From registration, getting a business address, to opening a business bank account via our partners at LHV bank.
Business Administration on Autopilot
Once your new business is up and running, there will be a team of accountants as well as compliance experts who will be operating every aspect of your company. This is from accounting and bookkeeping all the way to compliance as well as expense management.
Xolo Leap also handles tax reporting. You won’t have to break a sweat about missing a deadline or a date with the tax authorities.
Running a One-Person EU Company with Xolo Leap
Xolo Leap has a suite of tools that are aimed at running your company. It has an invoicing tool. It will enable you to easily create, send, and keep track of professional invoices that are automatically VAT calculated.
The expense dashboard will allow you to enhance your company’s yearly tax bill.
Your real-time business dashboard will enable you to focus on your finances while looping you in on any issues that need your attention.
Xolo’s Market
Xolo is no doubt the quickest and easiest way to found and run a one-person EU freelancing business.
It focuses on 40 million professionals out there. They have decided to run their business on their own. Its main customers hail from Germany, France, Spain, the UK, Turkey and Ukraine. Xolo’s normal customers are usually software developers, designers, management consultants, among other independent professionals.
There are businesses that Xolo does not yet service. These include those that deal in the purchase and sale of physical goods. For instance, drop shipping and Amazon FBA. It also doesn’t support business activities that require a license in Estonia, companies that holds ICOs to raise funding or that only deal with cryptocurrencies as transactions. These include travel agencies and financial services, sale of alcohol and gambling.
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