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Play to Earn Company Registration in Estonia

Why Open a Legal Play-to-Earn Company in Estonia?

Before discussing the key reasons why people are so interested in company registration in Estonia, it needs to be established that play-to-earn is a very in-demand business model nowadays. This model enables gamers and tech-savvy users to gather or farm crypto and NFTs that can later be exchanged for fiat currency. A sharp increase in interest in play-to-earn signals that the crypto market is always willing to adapt. The latest paradigm shift in the crypto space helps shape the business model of tomorrow. By the way, most people have play-to-earn pegged as a solo effort, but many also refer to it as a team-based approach to earning crypto by monetizing their gaming skills.

The biggest advantage of launching a business in Estonia is that the business is exempt from taxes on the undistributed profit. Even though the taxation rules are very lax, Estonia can't be considered a so-called tax haven. Because of that, you don't have to worry about your investors thinking that your business is shady.

How Long Will It Take to Register a Play-to-Earn Company in Estonia?

The quick answer is: not too long. Some businesses that provide aid in company registration claim that you can get your business up and running in 3 hours. Of course, this is a theoretical claim. An exaggeration. The reality is that approximately 98% of businesses are launched via the web, 99% of monetary transactions are carried out electronically, and 98% of tax declarations are processed electronically. This means that Estonian authorities are very supportive of the e-business model. Consequently, it takes up to 5 workdays to register a company via the web. Don't forget that you can always enlist the help of a company that specializes in Estonia company registration in order to speed up the process.

What Organizational / Legal Things to Consider Before Even Starting a Play-to-Earn Company in Estonia? 

Before getting started, make sure you consider the following factors:

  1. The first thing that you'll need to do is qualify for an e-card. Your e-Residency application will likely be successful, which means that you will receive an e-card. 
  2. You'll need a physical address for your play-to-earn business. You don't have to book a flight to Estonia. This can be done remotely.
  3. You'll need to make sure that your company's name isn't trademarked/in use/taken. There's a freely accessible register of trade names and trademarks.
  4. You won't need to learn the language. The Estonian workforce is both skilled and fluid in English. You won't need to hire any native-speaking staff specifically to represent your business within the local community.
  5. Minors (under 18) will not be allowed to set up companies in Estonia. 
  6. Minimal amount of share capital is required (approx. €2,500). 
  7. The costs of operating a business in Estonia are cheap – pretty much in line with the cost of starting a business in most African countries despite the fact that Estonia is far from having a weak economy.

Why Is It So Easy to Open a Play-to-Earn Company in Estonia?

Estonia's bureaucratic system is one of the most efficient in the world. Furthermore, the government is aware that the future belongs to digital businesses and crypto-related projects. They are doing their absolute best to cultivate the necessary business environment in order to bring startups and cryptocurrency entrepreneurs into the country. You can see how that's working by looking at the number of crypto companies operating out of Estonia. The digital money sector employs a hefty percentage of the country's workforce. But, what's the real secret to achieving a flourishing and well-funded blockchain startup community? It's not the friendliness of the people in Estonia, it's the fact it is VERY easy to set up a project. Also, the taxes are low. That's why it is so easy to start and operate a crypto-related project in this country, be it an NFT business or a play-to-earn start-up.

Why Do People Choose Estonia For Starting a Play-to-Earn Projects?

Estonia is no slouch when it comes to gaming, innovation, and crypto. It remains one of the most digitized countries in the world and it offers various advantageous benefits for startups. These are the main reasons why entrepreneurs are migrating to the Baltic nation to establish a start-up:

  • 0% corporate income tax.
  • Stable government and currency.
  • Competitive prices for tech services.
  • Members of the board can be foreigners.
  • No wage requirements for the director and other staff members.
  • It's possible to run the business from abroad.
  • Any board member can apply for a residency after five years.
  • There's no double taxation.
  • Estonia has access to an extensive tech talent pool.
  • Progressive taxation rates.

Of course, this list of advantages is in no way exhaustive, so do check out more online articles that focus solely on the advantages associated with operating a business in Estonia.





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