Not necessarily. Ideally, it should be similar, but the salary, both as an employee and as a member of the board, may vary each month. That is, you do not need to always assign the same salary.
We recommend you write an employment contract for yourself in which you specify a base salary and a variable productivity bonus. For example, imagine that some months you can only pay yourself 1000€, but others you have enough income, which allows you to allocate up to € 500 salary.
In that case, you could specify a base salary of 1000€ per month, plus a variable productivity bonus of € 500.
If you’re a board member or shareholder of an Estonian company, you’ll first need to understand how salaries work. This article walks you through the principles of understanding the fundamentals (and legal requirements) of paying yourself as an employee. Click here to learn more.
If you choose to become an Estonian tax resident (not an e-resident), this is what you need to know about salaries, dividends, social security, pensions, and more. Click here to understand what a change in your tax resident status means for your company in Estonia.
The Daily Allowance is a travel allowance granted to the members of the board of a company. They can be paid to them from the corporate bank account for free. they are not subject to taxes. They work like any other work allowance for a business trip. Click here for a depth explanation about how daily allowance works for an Estonian company.
Since Estonia’s e-Residency program lets you have a location-independent business, you shouldn’t be restricted by paying in a single currency. From defining contracts to legal hiring practice, learn more about paying out salaries to your employees. Click here to learn more.
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