Estonian business service provider 1Office that celebrates its 12th birthday in August, has launched a unique my1Office platform which offers companies various digital solutions. The platform simplifies company formation and management process in multiple countries, being connected to their business registries. For example, e-residents can establish their Estonian companies on the same conditions as Estonians and manage everything from one place. This innovative platform aims to bring more foreign entrepreneurs to Estonia and enables Estonians to start their businesses in other countries.
Digital solutions are a normal part of Estonians’ everyday lives which might not be the case for many other countries where company formation involves a lot of bureaucracy and often entails high administrative costs. That is the reason why over 13 000 e-residents have decided to establish their companies in Estonia through the e-Residency program which was launched in 2014. By this spring, the cumulative turnover of the companies established by e-residents exceeded €1 billion, and in 2019 brought 15 million euros in tax revenues.
The recent coronavirus crisis has given a further push to the need of digitalizing companies to be able to maintain sustainable businesses in the future. For example, during the lockdown, Estonian company owners were able to run their businesses as close to normal as possible, even when the government facilities were closed for visitors. However, other countries that don’t benefit from a variety of national digital services, experienced delays due to government lockdowns which interrupted their business activities.
The new my1Office platform simplifies the Estonian company formation and management process, allowing everything to be done from the distance, regardless of one’s location. The platform contains all the services needed to run a business, including accounting, creating invoices with a multi-currency invoicing tool, managing posts and documents, ordering various business services, an informative knowledge base, and a calendar with the most important accounting and tax deadlines. Soon, a translation function, legal contract templates, and a my1Office mobile app will also be available.
In addition to Estonia, my1Office provides company formation services in the UK, Finland, Sweden, Latvia and Lithuania. The process of establishing a business in these countries is fast and easy with 1Office and can be done completely from the distance. Since 1Office’s team has extensive international knowledge and experience in accounting, legislation, and other business-related topics, the whole process is made effortless, allowing to avoid the most common hurdles in the way.
Therefore, my1Office platform presents a valuable opportunity to start and manage a company from the distance and do everything from one place, decreasing the time spent on bureaucratic procedures.
1Office was founded in 2008 and offers business services in Estonia, Finland, the UK, Sweden, Latvia and Lithuania. Over 4000 companies from more than 70 countries have used 1Office’s help in establishing their foreign companies.