Got questions? We've got answers!
Here are a few of our most popular ones to get you started:
Yes. This special offer is exclusively for freelancers and solopreneurs with Ukrainian passports.
You'll need Estonian e-Residency to open a business with Xolo Leap.
Read our step by step guide to applying for e-Residency
How do I take advantage of this offer?
Just follow the usual sign up process. The system will flag your Ukrainian passport so once you officially complete onboarding, €410 will be credited to your Xolo Leap account.
What costs am I responsible for, if any?
You'll pay the initial setup costs, and we'll reimburse you once setup is completed. You'll be on the hook for any travel costs to go retrieve your e-Residency card from your nearst pickup location. And depending on the Leap subscription you choose, you'll pay a monthly subscription fee for as long as you want to keep your company in operation.
Depends on whether you're already an e-resident or not. Already an e-resident? Then no, you don't need to go anywhere.
Not (yet) an e-resident? Then yes, you'll need to travel. Once your application is approved you'll have 6 months to collect your kit from an official pick-up location.
Find your nearest pickup location on the official e-Residency website
If you decide to use integrated banking through our partners at LHV Bank, we'll take care of all the setup. But you'll need to fly to Tallinn (just the one time) to verify your identity.
Private limited companies (OÜ or “osaühing” in Estonian), are very easy to set up and are the preferred company type for the vast majority of e-residents. This type of company limits shareholder liability and has a share capital requirement of just €2,500. It's important to note that this share capital requirement can be paid in installments or deferred until your company decides to pay out dividends.
Right now, we are unable to support businesses that fall under any of the following categories:
- Buying and selling of physical goods (including drop-shipping and Amazon FBA)
- Activities that require a license: financial services, travel agencies, gambling, etc.
- Companies in the cryptocurrency space
- Ventures currently raising funding through Initial Coin Offerings (ICOs)
If you've already an e-resident, registering your company will take about 24 hours. But if you're not an e-resident yet, it usually takes 3-4 weeks.
Let's talk banking. If you're planning to use a Wise account, it takes 1-5 business days for them to process your application. But once your account is opened you can start doing business immediately.
If you'd like to do your banking through LHV, it'll take us 10-14 days to prep the necessary documents and get you pre-approved. Once LHV gives us the go-ahead, you can book a day trip to Tallinn to verify your identity in-person.
Leap Pro and Growth price plans support PayPal (for receiving and sending payments) and Stripe (for receiving payments).
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