Not Legal Advice
This guide provides general information only and is not legal advice. Company formation requirements and regulations vary by country and change over time. Consult a qualified legal professional before making business decisions. Information current as of January 2025.
Prerequisites
Before You Start
Make sure you have these ready before starting the weekend setup:
- Estonian company registered (registration number ready)
- E-Residency card and card reader
- Passport or ID for verification
- Phone for 2FA setup
- Computer with webcam (for verification selfies)
Saturday Morning: Banking
Wise Business Setup
~45 minutes- Create Wise Business account
Go to wise.com/business, select "Register your business"
- Select Estonia as business country
Enter your company registration number
- Add beneficial owner details
Your personal info as the owner
- Complete personal verification
ID photo + selfie, takes 5-10 minutes
- Open EUR account
This will be your primary business account
- Add USD account (optional)
If you have US clients, add this now
Note: Wise verification typically takes 1-3 business days. You may need to wait for full approval. Submit now, continue with other tasks.
Saturday Afternoon: Payments
Stripe Setup
~30 minutes- Create Stripe account
Go to stripe.com, sign up with your email
- Select Estonia as your country
This determines your Stripe entity
- Enter company details
Registration number, legal name, address
- Complete personal verification
As director/owner of the company
- Connect bank account (when Wise is ready)
Add your Wise EUR IBAN for payouts
- Enable Stripe Tax (optional)
Settings → Tax → Enable automatic tax calculation
Pro tip: Stripe often approves Estonian companies within 1-2 days. Have your company registration extract ready if they ask for documents.
Sunday Morning: Accounting Setup
Xolo Dashboard Configuration
~20 minutes- Log into Xolo dashboard
Your company should already be set up
- Add your bank accounts
Link Wise account details to Xolo
- Set up invoice template
Add your logo, payment terms, bank details
- Review expense categories
Understand how to categorize future expenses
- Note monthly accounting deadline
Usually upload statements by 10th of following month
Sunday Afternoon: First Invoice
Create Your First Invoice
~15 minutes- Open invoicing in Xolo
Go to Invoices → Create New
- Add client details
Name, address, VAT number (if EU business)
- Add line items
Description of services, amount
- Set VAT treatment
No VAT (reverse charge for EU B2B) or applicable rate
- Review and send
Double-check all details, download PDF or send via Xolo
Congratulations! You've sent your first invoice from your EU company. Track payment in Xolo when it arrives.
Bonus: Backup Account
Revolut Business (Optional Backup)
~30 minutesMany e-residents keep a backup account. If you have time:
- Create Revolut Business account
business.revolut.com or download app
- Complete verification
Similar process to Wise
- Open EUR account
Backup IBAN for redundancy
Why backup? If one provider has issues, you have another. Peace of mind for business continuity.
Frequently Asked Questions
Everything you need to know before getting started
All information verified as of December 2025. Prices and features subject to change. Always verify current pricing with providers.
