3 Key Services to make your business successful
Monthly accounting
- Control and processing of electronically transmitted original accounting documents, purchase and sales invoices and recognition of receipts in the ledger, settlements with reporting persons.
- Preparation and submission of monthly tax returns to the Tax and Customs Board.
- Sending reports and printouts from accounting records to the client’s e-mail
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Accounting
We truly care about making your business a success. Focus on your core business rather than a complex bureaucracy. Navigate your tax system and let us take care of your accounting.
Accounting documents
The concept of original document derives from the Accounting Act and proves the economic transaction. As an original document sales invoices, purchase invoices, contracts, cashier’s checks, dispatch reports and similar documents on the basis of which entry in the accounts, including transactions in securities, cryptocurrency trading, Forex transactions. Also cash flows from and to cash registers visible from bank accounts undocumented purchases.
Annual report
The Annual Report gives an overview of the company`s activities in the reporting year and the financial statement. Every company registered in Estonia has to submit the annual report to the Commercial Register within six months after the end of the financial year usually it is on the 30th of June.
The annual report should consist of the annual accounts
- balance sheet
- income statement
- cash flow report and statement of changes in equity
- plus annexes
Opening a bank account
After starting a company, the next step is to open a bank account for the company. Because in order to manage the company’s daily finances and organize settlements, it is necessary for the company to have a current account with a business customer.
When opening a bank account, e-Residents have three options:
– open an account with Estonian Bank LHV, which is our cooperation partner
– open an account through partners for online payment services established in the European Economic Area, such as Transferwise and Payoner
– open an account with a bank established in a Contracting State of the European Economic Area suitable for you
Which option to prefer to your company, what is needed to open an account and what banking services and products are included?
In order to find the best banking service solution for your company according to your company’s field of activity, we will find out with you the exact needs and future plans of your company and thereby find the best solution for your company. If necessary, we support the issues arising in the bank account application process as well as in communication with the bank.
Incorporation and other corporate documents
- Memorandum of association.
- Articles of association.
- Resolutions of partners/ shareholders/ management and supervisory boards and other bodies on the company.
- Minutes of meetings: Commercial Code foresees that some action and decisions can only be adopted by a meeting of a body (for instance, the general meeting of shareholders).
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Legal paperwork
In the past transacting business was easy: two people agreed to make a trade, and both parties honored their word. In 21st Century, professionals are all too aware of the long history of deal-breaking and lawsuits all around them. In business, contracts are important because they outline expectations for both parties, protect both parties if those expectations are not met and lock in the price that will be paid by either or the parties.
Before you get your pen to sign an agreement, make sure you know what you are signing!
Business licenses and permits
Depending on what your business does, you must apply for licenses or permits in order to operate lawfully. There are certain permits and licenses that are required for different types of businesses or engaging in a certain undertaking. For instance you might need license for commercial activities when carrying out some particular economic activities, such as business involving food product, alcohol or tobacco, production and sale of pharmaceutical products etc.
Business agreements
Signing an agreement, you do not understand in depth, puts your business at risk. The following are a few examples of the agreements that might become unavoidable while running our business and doing business transactions:
- Shareholders agreement
- Founders Agreement
- Investment agreements
- Non-disclosure agreement
– TAKU SUZUKI: EJ HUB OÜ, FOUNDER
” In my case, I made a sudden decision to set up a company, so the SuccessHub was very fast and helpful! In spite of emergency, the team was very polite, nice and the whole process was very easy. I was surprised how quickly my own company was established.”