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Easiest country to open and manage company remotely in 2023
- Thread starter troubled soul
- Start date
nothing beats Estonia ... e-resiidence is easy to get, and the rest happens automagically ... i used xolo.io a few years ago and was happy with them, not sure where they stand now and what other services are out there
Really, I heard that it is very difficult to open a corporate bank account for an Estonian company without residence there.
Estonia looks like a big scam to me. Xolo could be a quick solution to get paid once or twice but it doesn't look like a good long-term solution.
e-residency appears to be useless as well, from what I've read. Please change my view.
Lol, why would I need to change your view?
You sound strongly opinionated already. Xolo has service for one-offs, but also can do accounting on month-by-month basis. There are other companies too.l, e.g Companio.
Once you e-resident and registered a company, it takes minutes to open Wise Business. Possible others if you prefer.
e-residency is E … as of electronic, residency. Useless? This thing let you sign documents without needing ever a physical paper or step foot there, let alone open a company, and do all sort of stuff.
I gave my feedback based on great personal experience. DYOR.
Good luck!
This is the first time I hear that it takes "minutes" to open a corporate bank account with Wise. With the director and UBO having his main residence outside of Estonia? For what type of business?
These are good questions, how easy/difficult is it to open a business bank account for a company if your residence is outside of Estonia?
Estonia definitely will be the easiest and the best one - you can log in to all required governmental websites, sign the documents, set up your company remotely. In case you need to change anything in the register, let's say your company name, you can do it online and it takes only 5 minutes to send the application.
Bank account could be opened in Paysera for example, depending on your business activity
Bank account could be opened in Paysera for example, depending on your business activity
The UK is actually even easier and faster than the US because you dont have to wait for an EIN. You can get a UK LTD incorporated and registered at Companies House with a Company number in less than 24 hours. And then yes, you can open a Wise bank account for a US or UK company in minutes (and for an Estonian company too I guess).
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Its easy to get but you need to wait 2 months and pick it up from a foreign embassy which might not be in your country.
Nowadays you can also buy a ready made company and start doing business immediately without the digital id (e-residency).
US - you need to wait for EIN to get banking.
A lot of people use both US and Estonian company together.
UK is the fastest option if you form a new company
For a standard UK LTD not so much, it would be subject to UK corp tax.
There is such a thing as a non-resident UK LTD though, see The treaty non-resident UK Ltd. - the best-kept offshore secret?
And then there are UK LLPs which are transparent and a bit like US LLCs, but not as easy to open bank accounts for.
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