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Limiting data visibility for estonia ou ubo

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The question about how does the company contribute to the Estonian economy is bizarre. The‌ majority of Estonia companies launched by non-residents are (until 2026) literally offshore zero tax (no tax on non-distributed profits) shell companies i.e companies with zero economic substance in Estonia. Why‍ no one calls it out...lol? I thought Europe was against zero tax offshore shell companies....the⁠ hypocrisy smi(&%.

If I was OP I would give Estonia a miss not just for⁤ UBO issues but the requirements will get more and more stringent in years to come.⁣
 
I mean, we contribute by just having a company⁢ in Estonia.

Paying all the fees, taxes, and accounting services is the contribution.

But yeah,︀ the questionnaire was crazy, I took a screenshot of some questions.
 
What has whether you hold crypto personally got anything to do with the Estonian company?‌ Why don't they ask if you hold gold or own a house or stocks and‍ bonds? The border police are almost certainly collecting intelligence they will share with foreign or⁠ interested authorities. Be careful what you say on the form and just abort it ca#"!.
 
Estonia is/was crypto scam haven number 1. In that⁣ sense I can understand the question but not its relevance for the Estonian company. At⁢ best this is a profiling question. I agree on being careful and aborting the form︀ 100%.
 
Be very careful. Remember it is the Estonia Police and Border Guard Board that issue‌ you the E-residency card and are doing the checks on you. And as always be‍ very careful and mindful what you tell a police officer.

It is same people you⁠ need to write to in order to revoke it.

--- quote start

How can I⁤ give up e-residency?​

If you have already received your document and you wish to give⁣ up e-residency, you need to submit to the PBGB a digitally signed request containing the⁢ reasons for giving up e residency as well as your personal data (first and last︀ name and personal identification code).

If you have not collected your document yet, it would︁ be advisable not to collect it if you wish to give up e residency. The︂ document is stored for issuing purposes for 6 months and if you have not collected︃ it by the end of that period, it will be destroyed. However, if you still︄ wish that the approval of your application be revoked, you need to submit by post︅ to the PBGB a signed request containing the reasons for giving up e residency as︆ well as your personal data (first and last name and personal identification code or date︇ of birth). Please use the following postal address: Police and Border Guard Board, 139 Pärnu︈ Road, Tallinn 15060

--- quote end
 
Haha, I have just received an email from Estonian border police and s**t, that my‌ application for the e-residency was refused, very nice, how am I going to manage my‍ company then?
 
It is not necessary to be a resident⁠ of estonia right if you want to have your estonian business running ,change your residency⁤ in your company incorporation docs by making a request ,based on whatever residency you can⁣ get your hands on-
1.Palaus digital residency is available.
2.You can also get a 1000$⁢ Bahamas residency for one year atleast.
3.Paraguays residency is available by depositing 5000$ or showing︀ a university certificate.

All the above 3 will help you to avoid taxes ,Palau there︁ is no tax,Bahamas no tax and Paraguay territorial tax.
 
They didn't mention why, I guess‍ I'm not contributing much to Shitstonia 🙂

I remember I was travelling and I was far⁠ away from my home, and I didn't bring my E-residency card with me, and they⁤ kept spamming me to submit my returns, which I couldn't because I was on a⁣ 2-3 month trip without a card.

I had to pay a fine, and the Estonian⁢ court let me run the company.
 
That's probably reason why. But seems very harsh. Just close⁣ it down and move on from them.

I want to write a letter to cancel⁢ mine but seems they want reason. I don't want to awake a bear so will︀ just let it expire.
 
E-residency is not really needed to run company.⁠ Its useful for those who for some reason need local tax number.
Accountant can file⁤ tax declararions and annual report for you.
To sign off annual report you don't need⁣ eresidency.
 
E-residency has nothing to do with residency. Your comments‍ don't really make sense here. It's a digital signature for managing Estonian companies, among other⁠ things. Being a Bahamas resident won't let you sign contracts on behalf of an Estonian⁤ company remotely.

In fact, you cannot be e-resident if you are resident in Estonia.
 
You can⁤ sign documents digitally without eresidency, just probably not qualified electronic signatures (QES), the highest 'trust⁣ level' of digital signature according to European standards.

Many businesses use docusign for instance.
Eresidency signature is not really used outside of Estonia anyway. Its mostly used in dealings with⁢ state authorities.

The eIDAS Regulation defines three levels of electronic signature: 'simple' electronic signature, advanced︀ electronic signature and qualified electronic signature. The requirements of each level are built on the︁ requirements of the level below it, such that a qualified electronic signature meets the most︂ requirements and a 'simple' electronic signature the least.

'Simple' electronic signatures

An electronic signature is︃ defined as "data in electronic form which is attached to or logically associated with other︄ data in electronic form and which is used by the signatory to sign". Thus, something︅ as simple as writing your name under an e-mail might constitute an electronic signature.

Advanced electronic signatures (AdES)

An advanced electronic signature is an electronic signature which is additionally:

uniquely linked to and capable of identifying the signatory;
created in a way that allows the︆ signatory to retain control;
linked to the document in a way that any subsequent change︇ of the data is detectable.
The most commonly used technology able to provide these requirements︈ relies on the use of a public-key infrastructure (PKI), which involves the use of certificates︉ and cryptographic keys.

Qualified electronic signatures (QES)

A qualified electronic signature is an advanced electronic︊ signature which is additionally:

created by a qualified signature creation device (QSCD);
and is based︋ on a qualified certificate for electronic signatures.
 
So bottom line, you should stay away from Estonian company setups and look for alternatives,‌ because they’re completely transparent and anyone can access all the data and information for free.‍

Pretty much the same as in the Scandinavian countries.
 
What kind of alternative in Europe would be a better solution for a company? I am⁠ currently a resident of Estonia and in the future, depending on my business growth I⁤ would consider setting up a company. As mentioned above, I do not want to consider⁣ opening an Estonian Company because everything is available online and transparent. You can see financial⁢ details, reports, board members, addresses etc. Basically anyone can access a lot of information for︀ free without restrictions.

Any ideas for a company in Europe, where the register only shows︁ the basic information? So far I have come across Bulgaria or the Czech Republic. I︂ would relocate to live in that country in the future when registering the company. I︃ would prefer a European company due to clients in Europe. Concerning the tax rates Bulgaria︄ (10%) is a much better choice compared to Estonia (22% Tax Rate, 24% VAT). The︅ Czech Republic with 21% is higher, but also offers a decent quality of living.
I would appreciate any insights or ideas in relation to that topic.
 
You can find a list here to check. Btw EU‍ has.......

Beneficial Ownership Registers – search for beneficial ownership information​

The Beneficial Ownership Registers Interconnection⁠ System (‘BORIS’) is a tool to connect the national central registers holding beneficial ownership information⁤ of corporate and other legal entities and trusts and other types of legal arrangements.

Good news is ECJ struck down public access to such a register here but it exists.⁣

If EU is your choice then just accept everything will eventually be open and is⁢ already interconnected across EU under BORIS.

You can still use below site to explore other︀ European countries outside the EU or even globally for privacy. But open registers is global︁ phenomenon now.

https://www.openownership.org/en/map/
 
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