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.
The Realistic Timeline
4-6
Weeks Total
First Invoice
Sent!
Week 1-2
E-Residency Processing
Week 3
Card Pickup
Week 4
Company + Bank
Week 5-6
Ready to Invoice
Phase 1: E-Residency Application
Submit Online Application
Go to e-resident.gov.ee. Fill out the application form with your personal details, passport information, and reason for applying.
- • Upload passport photo page
- • Upload passport-style face photo
- • Write brief business motivation (1-2 sentences)
- • Pay €100-120 government fee
- • Choose pickup location (embassy or service point)
Background Check & Approval
Estonian Police and Border Guard processes your application. Most approvals come within 2-3 weeks. You'll receive email confirmation.
Card Delivery to Pickup Point
Your e-Residency kit ships to your chosen pickup location. You'll receive notification when it's ready for collection.
Phase 2: Card Pickup & Setup
Collect Your E-Residency Kit
Visit the pickup location with your passport. You'll receive:
- • E-Residency smart card
- • USB card reader
- • PIN codes (PIN1 for authentication, PIN2 for signing)
- • Setup instructions
Install Software & Test
Download the ID software from id.ee. Install on your computer. Connect the card reader and test that your card works. Change your PINs to something memorable.
Phase 3: Company Formation
Sign Up with Xolo Leap
Create your Xolo account and choose Xolo Leap for company formation. They'll guide you through:
- • Company name check and registration
- • Articles of association
- • Share capital setup (€2,500, can be contributed over time)
- • Legal address arrangement
- • Contact person appointment
Digital Signing
Using your e-Residency card, digitally sign the formation documents. Xolo submits to Estonian Business Registry. Registration usually completes within 1-2 business days.
Company Registered!
You receive your company registration number. Your Estonian OÜ is now a legal entity. Time to set up banking.
Phase 4: Banking & First Invoice
Open Business Banking
Apply for Wise Business or Revolut Business with your new company details.
- • Provide company registration number
- • Complete personal verification (ID + selfie)
- • Open EUR account (primary)
- • Add USD, GBP if needed
Send Your First Invoice
You're set up! Create your first invoice through Xolo's dashboard:
- ✓ Your company details auto-filled
- ✓ Client details and amount
- ✓ Payment terms
- ✓ Your Wise/Revolut IBAN
- ✓ Send as PDF or via Xolo
What Your First Invoice Needs
Invoice Checklist
Your Company Info
- • Company name (OÜ)
- • Registration number
- • Legal address (Estonia)
- • VAT number (if registered)
Client Info
- • Company/person name
- • Address
- • VAT number (if EU B2B)
Invoice Details
- • Invoice number (sequential)
- • Invoice date
- • Service description
- • Amount and currency
- • Payment due date
Payment Info
- • Bank name (Wise/Revolut)
- • IBAN
- • BIC/SWIFT
- • Reference (optional)
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.
