According to EU-Startups.com, Estonia is different from any other region in the world. The online publication points out that Estonian government has long advocated entrepreneur-friendly tax policies and has created aggressive incentives to attract foreign investors, especially in IT and some other niche segments like FinTech.
In terms of the entrepreneurial employee activity and competitiveness Estonia ranks the first in Europe and in terms of number of startups per capita – third. There are 550 startups in Estonia ready to conquer the world, following the four Estonian unicorns: Skype, Playtech, TransferWise and Bolt.
EU-Startups.com also points out that Estonia has a very flexible corporate tax framework that attracts many foreign companies to start their activities here.
The country has no corporate income tax on retained and reinvested profits. This means that the tax system is particularly suitable for companies that are planning rapid international growth – you can spend the funds you would otherwise pay as taxes to the government, on innovating.
Estonia’s e-Residency program is world-famous as it was the first of its kind anywhere on Earth and as the country’s e-residents can manage their Estonian company remotely.
Forbes reported already in June 2019, that upcoming startup hubs such as Tallinn are attracting heavy investment, with still plenty of room to grow.
World-class human capital, unique digital capabilities, a competitive business environment with advantageous tax system make Estonia a smart, agile location for businesses with global ambitions.