As we are approaching the launch of our new project, I have started to evaluate the different incorporation options, and launching an online business in Estonia using their e-Residency program is gaining points to be the final option.
Our new venture will be a blockchain-based business, although initially, users and clients will not deal with crypto at all. Everything will be free for users and the companies which will be our real clients, will be invoiced in Euros. That being said, the easiest thing should be to incorporate a new business in Spain, as most of the team lives here, but I have had several previous experiences in the past, and although some things have changed, I hate the way the Spanish administration deals with company registration, taxes, and paperwork and I would like to try a different approach this time.
I've been hearing about the Estonian e-Residency program, how everything can be done online, and the benefits you have in terms of executing all your paperwork. In terms of taxes, there will probably be no difference as I will be paying my taxes in Spain where I do plan to stay as a resident, but if I ever decide to move to Portugal, it may be better and easier to request a Portuguese Digital Nomad residency as I will be dealing with the Estonian business.
I will take a deeper look at the business registration process, the legal duties involved, and the cost of hiring an Estonian company online to help us with all that. Meanwhile, I may just apply for the e-residency program to have everything ready in the event we finally decide to choose to incorporate the company in that country. I kind of want to "feel" the experience of being able to deal with all the company duties online and experience that freedom.
The program was launched several years ago and has been joined by more than 100K people from around the world, there is plenty of info online and I may also be able to set up a videoconference to get my questions answered. I will share my experience as I move forward if I finally do.
You can also take a look at this short video explaining the process.