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Great comment. That capital requirement sounds like a way to give the local banks capital from rich foreigners to make loans and get tax revenue. I know India
by csdreamer7 9y ago
Great comment.
That capital requirement sounds like a way to give the local banks capital from rich foreigners to make loans and get tax revenue.
I know India restricts how much Indians can spend abroad and Mexico has complained about capital flight.
- Strom 9y agoNot sure if there are additional requirements for e-residents, but for the standard end of the year accounting requirements you don't need to have cash. There's a general net worth requirement, which can pretty easily be filled with company owned equipment like a laptop and smartphone.
- edwin01 9y ago"If the net assets are less than half of the share capital or less than the minimum capital requirement of EUR2,500 regarding private limited liability companies and EUR250,000 regarding public limited liability companies, the shareholders must decide on: (1) The implementation of measures as a result of which the net assets would form at least half of the share capital and minimum capital requirement Or (2) Dissolution, merger, division, transformation of the company Or (3) Submission of a bankruptcy petition" http://www.ey.com/Publication/vwLUAssets/Doing_business_in_Estonia/$FILE/Doing%20Business%20in%20Estonia.pdf http://www.ey.com/Publication/vwLUAssets/Doing_business_in_E... Put in 100000€ and you will need to have 50000€, not 2500€. You will need quite many laptops and phones for 50k€ ;)
- nordify 9y agoSo don't put in the money as share capital.