Terms and Conditions

e-Residency Requirement

All shareholders or members of a company incorporated in Estonia must hold an e-Residency card issued by the Estonian government. This card allows digital signature of documents, access to Companio’s platform, and remote management of the company. Detailed information about how to apply for the e-Residency, timelines, and cost can be found here.

Companio is not involved in the issuance of the e-Residency card and cannot influence its approval or rejection. If the application is denied, the company formation fee is non-refundable.

Company Setup and Activation

The process of registering a company in Estonia through Companio includes two phases:

1. Sign-up in Companio, consisting of:
   • Choosing the company name.
   • Providing basic information about the company and its members.
   • Paying the incorporation fee.

Once these steps are completed, the Client gains access to the platform to continue activation.

1. Company Activation. This phase includes the following steps through the dashboard:
   1. Signing the service agreement: The Client must sign the service agreement using their e-Residency card.
   2. Email confirmation: The contact email must be verified before the Estonian Business Register. This step usually takes 2 to 3 days.
   3. Member signature: All company members must digitally sign using their respective e-Residency cards. This also takes approximately 2 to 3 days.
   4. Company registration submission: Once the previous steps are complete, Companio will initiate the company registration process with the Estonian Business Register. This procedure is usually completed within 24 hours. As part of anti-money laundering (AML) procedures, a copy of each shareholder’s passport will be required.
   5. Connection of a corporate bank account: The Client must open and link at least one corporate bank account from the list of accepted financial institutions by Companio. Pre-existing or personal accounts are not accepted. While Companio provides guidance during this process, the opening and approval of the account are handled solely by the selected financial institution. Companio assumes no responsibility for approval, rejection, or delays in this process.

Once the incorporation is completed, the Client will receive an official document containing the company’s registration code. This code, along with the registered company name and address, must be clearly stated on all invoices issued by the company.

Timelines and Consequences:

• If the Client does not connect a corporate bank account within one month after the Company Registration Submission is completed, the company will automatically be marked as “under accounting,” and the corresponding monthly plan fees will start to apply.
• If three months pass without connecting a corporate bank account, the onboarding process will be considered abandoned. As a result:
  • Companio will cease to act as the company’s legal contact or registered address.
  • The contract will be automatically terminated.
  • The Client will lose their customer status.
  • No refunds will be issued for services already provided.

Accounting and Compliance

Companio provides an accounting service adapted to Estonia’s legal obligations. This includes:

• Monthly bookkeeping.
• Submission of tax returns (TSD, VAT, etc.).
• Preparation and filing of the Annual Report.
• Monitoring of legal and regulatory compliance.

Accounting services begin automatically once at least one corporate bank account is connected to the company’s dashboard.

Permitted Activities and Client Profile

Companio exclusively offers services to digital businesses without a permanent establishment outside Estonia. To review the list of permitted activities and business models, please consult our Acceptable Use Policy.

Freelance Registration

Companio manages the registration process free of charge for eligible Clients, including enrollment in:

• AEAT (“Agencia Tributaria”) – for tax compliance.
• Social Security (RETA) – for social contributions and coverage.

The entire process is completed 100% online with step-by-step support from our team.

Accounting and Compliance

Once registered, the Client receives ongoing monthly accounting services adapted to the requirements of the Spanish freelance regime. These include:

• Filing of all applicable tax forms (e.g., Forms 130, 303, 111, 115, 347, 349, and 390).
• Quarterly and annual VAT and income tax returns.
• Invoice management (issued and received).
• Preparation of mandatory accounting ledgers.
• Continuous tax guidance and support.

All processes are handled from a single online platform, with automatic notifications, compliance tracking, and direct communication with Companio’s accounting team.

Processing Timelines

The complete onboarding process is usually finalized within 1 to 2 business days, provided that the Client’s documentation is complete and no errors are detected.
Steps include:

1. Application via Companio: After registration, the Client’s tax and personal information, as well as identification documents, are reviewed.
2. Registration with AEAT: Once validated, Form 036 is filed to register the Client with the Spanish tax authority officially.
3. Registration with Social Security (RETA): This is done in parallel, requiring two SMS verification codes previously sent to the Client’s registered mobile number.
4. Confirmation and access to the platform: Once completed, the Client receives official proof of registration and access to the Companio dashboard, where they can begin uploading invoices and connecting their bank account.

Client Profile and Permitted Activities

This service is intended exclusively for self-employed professionals carrying out digital or service-based activities that are compatible with the Spanish freelance regime (RETA).

It is designed for online business activities or those that can be performed without a fixed physical location or being tied to the Client’s country of residence. It is ideal for sectors such as software development, digital marketing, design, consulting, online education, translation, copywriting, dropshipping, e-commerce, or tech startups.

Virtual Plan

The Virtual Plan is the most basic service option offered by Companio. It is designed exclusively for Clients who need a legal address and a contact person in Estonia, as required by the Estonian Business Register. This plan does not include accounting or tax filing services.

Included:

• Legal address in Estonia: valid for company registration in the Estonian Center of Registers and Information Systems (RIK).
• Local contact person: required for companies with non-resident board members.
• Digital management: full access to the client dashboard to manage company data, documents, and notifications.

Limitations:

• Does not include bookkeeping, bank reconciliation, invoice management, or tax returns.
• Does not cover the preparation or submission of the Annual Report.
• Subject to the Acceptable Use Policy and may be suspended if active commercial activity is detected without a proper accounting plan.
• Can be complemented with the Annual Report service only if the company remained fully inactive during the fiscal year or if VAT returns were submitted through another provider.

Pro Plan

The Pro Plan is designed for Estonian-registered digital companies with simple operational structures and no exposure to cryptocurrencies or complex financial activities. It offers a complete accounting solution for growing businesses that match the standard profile of an e-company in the European Union.

Included:

• Monthly bookkeeping and tax compliance.
• Filing of VAT and TSD declarations.
• Legal address and contact person in Estonia.
• Full access to the all-in-one accounting dashboard.
• Automated bank reconciliation.
• Multi-currency support.
• Personal or corporate loans.
• Hiring and payment of freelancers.
• Annual Report (+€250/year).
• International payroll management (requires Companio Work add-on).

Limitations:

• Maximum of three (3) corporate bank accounts (must be from Companio’s list of supported banks).
• Cryptocurrencies are not allowed in any form (payments, receipts, holdings, or investments).
• Investments in platforms such as Interactive Brokers, eToro, or Mintos are not permitted.
• Amazon FBA, dropshipping, and OSS are not supported under this plan.
• Donations and entertainment expenses are not deductible.

This plan is subject to the Acceptable Use Policy and may be suspended if the Client engages in activities outside the permitted scope. It may be complemented with the Annual Report service if the company remained fully inactive or submitted VAT filings via another provider.

Premium Plan

The Premium Plan is designed for digital companies with greater operational complexity, such as those managing cryptocurrencies, e-commerce (Amazon FBA/FBM), dropshipping, or investment activities.

Main Features:

• All services included in the Pro Plan.
• Compatible with Amazon FBA, dropshipping, OSS, marketplaces, and investment platforms.
• Greater accounting and documentation capacity.
• Unlimited corporate bank accounts from the list of supported banks.
• Supports operations involving crypto assets (trading, payments, staking, NFTs, etc.). The Premium Plan allows Clients to carry out certain cryptocurrency transactions as part of their business activity. This includes operations such as paying for goods/services using cryptocurrencies, receiving customer payments in cryptocurrencies, or investing in crypto through exchange platforms supported on the list of approved CryptoWallets.
• Donations are accepted as deductible business expenses.

Limitations:

• Entertainment expenses are excluded from deductible accounting treatment.

Annual Report

Companio offers the service of preparing and submitting the Annual Report for companies registered in Estonia, in accordance with the Estonian Commercial Code and other applicable regulations.

This service is not included in the monthly plans and must be purchased separately.

The service includes:

• Review of the financial information provided by the Client.
• Preparation of the Annual Report based on that information.
• Submission of the Annual Report to the Estonian Business Register.

The service does not include external audits, tax advisory, or assistance with requirements from authorities after the report has been submitted.

Fees and payment terms

• Reduced fee: €250 + VAT — if payment is made before March 31 of the filing year.
• Standard fee: €500 + VAT — if payment is made between April 1 and June 30 of the filing year.
• Late fee: €1000 + VAT — if payment is made after June 30 of the filing year.

To be eligible for the reduced fee, the Client must have been an active user of a Companio monthly plan for the entire financial year to which the report refers.

Payment must be made in full before the preparation of the report begins. All payments are non-refundable, even if the Client fails to provide the necessary information or does not respond to Companio’s requests to complete the service.

Additional fees for missing documents

For reports submitted after the deadline (after June 30th), an additional fee will apply for each document not uploaded during its corresponding month, if the total number of missing documents exceeds 100. These fees cover the extra work required for the retroactive reconciliation of accounting periods.

Submission in case of incomplete information by June 1st

If by June 1st the Client has not provided, through the Dashboard, the additional information requested by our accounting team for specific documents or transactions, Companio reserves the right to proceed with the preparation and submission of the Annual Report using only the information currently available. This action is taken to prevent the company from being removed from the Estonian Business Register due to failure to file the report by June 30. In such cases, Companio shall not be held liable for any inconsistencies, omissions, or consequences resulting from the incomplete information provided by the Client.

Additional Fees for Documents/Transactions

Companio reserves the right to apply an additional fee if, for the submission of the Annual Report, the number of pending documents exceeds 100. This additional fee will be proportional to the number of pending documents and calculated according to the current pricing table.

This additional fee will only apply to clients who pay for the Annual Report after the deadline (after June 30). These fees are meant to compensate for the extra work involved in the retroactive reconciliation of accounting periods.

Additional Processing Fee and Plan Upgrade for Unsupported Bank or Crypto Accounts

If the client connects or uses a corporate bank account or CryptoWallet that is not included in Companio’s list of supported banks and crypto platforms, an additional processing fee applies. This fee is calculated based on the number of transactions, as per the corresponding range in the current pricing table. These transactions will be counted as documents to calculate the monthly fee.

In cases where manual processing is required due to unsupported platforms, and the workload exceeds the standard accounting scope, the client’s company will be notified and given the option to connect a supported integration. If no change is made, the company will be automatically migrated to the Premium Plan starting from the following month to cover the cost of additional work.

The client is responsible for providing accurate monthly or annual transaction statements from unsupported platforms when requested by Companio.

Start Plan

The Start Plan is intended for freelancers starting their activity or managing a low volume of operations. It includes:

• Free registration as a freelancer (if required).
• Quarterly VAT returns.
• Filing of all applicable tax forms (130, 303, 111, 115, 347, 349, and 390).
• Issuance of invoices to clients in any country and currency.
• VAT returns and VIES registration.

Limitations of the Start Plan:

• Only one registered professional activity.
• Up to 20 documents per month.

Global Plan

The Global Plan is aimed at freelancers with a higher administrative workload or who run more than one business line. It includes all services from the Start Plan, plus:

• Up to two registered activities.
• Free tax consulting and tax optimization (15 minutes/month).
• Assistance with tax coordination if the Client also has a company registered in Estonia with Companio.

Limitations of the Global Plan:

• Up to 50 documents per month.

Team Plan

The Team Plan is designed for freelancers with more complex operations, collaborative structures, or international talent management. It includes all services from the Global Plan, plus:

• Up to three registered professional activities.
• Multi-user access.
• Extended free tax consulting (30 minutes/month).
• Access to Companio Work for hiring and managing international talent.

Limitations of the Team Plan:

• Up to 100 documents per month.

Conditions for the Change

• The plan change must be requested through Companio’s official support channels.
• A minimum commitment period of three (3) months in the new plan is required from the date the change takes effect.
• The change becomes active on the first day of the month following confirmation by the Companio team.
• During the process, the Client must accept the limitations, pricing, and conditions of the new plan in accordance with the current Terms.

Specific Changes

• Switch to the Virtual Plan: This implies the cancellation of accounting, tax, and compliance services. Only the virtual office service will remain active.
• Switch to Pro or Premium Plan: May require a review of the business model and submission of additional documentation. Fees apply according to volume.

Early Termination Penalty

If the Client cancels the new plan before fulfilling the minimum commitment period, they must pay an amount equivalent to three full monthly payments of the current plan.

Scope of Service

companion® includes the following functions:

• Accounts receivable/payable management: controlling invoices issued and received, and tracking payments.
• Bank reconciliation: reviewing and reconciling banking transactions with accounting records.
• Financial review: analyzing financial reports and assisting with the interpretation of accounting data.
• Tax and administrative inquiries: providing strategic guidance and resolving specific questions related to financial operations.
• Project-based reporting and monitoring: generating customized reports and supporting the tracking of income and expenses by client or initiative.

Additionally, “companions” are available for up to 5 hours per week for meetings via video call or phone per client. The service is activated one month after the request to ensure proper onboarding and resource allocation.

Service Limitations

companion® does not include:

• Certified legal or tax advisory services.
• Direct preparation or submission of tax filings.
• Personal assistance or handling of non-business tasks.
• Marketing, sales, or technical support activities.
• Direct participation in business operations or decision-making.
• Investment advice or financial planning.

“Companions” are not employees of the Client. They may not work beyond the stated weekly time limit or perform tasks outside the previously defined scope.

Service Operation

• Communication must take place exclusively through the official channels provided by Companio.
• The Client must designate a contact person for coordination.
• companions work under the supervision of a Companio manager.
• In case of dissatisfaction, the Client may request a replacement, with a maximum of three replacements per year, processed within 30 calendar days.
• companions will use secure credentials and access environments provided by Companio.

Confidentiality and Security

Each “companion” signs a specific confidentiality agreement to protect the Client’s sensitive information. Companio is committed to applying appropriate technical and organizational measures to ensure the integrity, security, and confidentiality of all data.

Termination

The service may be terminated by either party with 30 days’ notice. In case of serious breach by the Client, Companio may terminate the service immediately.

Service Description

The service includes:

• Automatic integration with Amazon Seller Central.
• Import and categorization of income, expenses, commissions, and returns.
• Reconciliation with bank and accounting reports.
• Calculation of VAT and other indirect taxes related to Amazon sales.
• Generation of accounting and financial reports tailored to the requirements of the applicable jurisdiction.

This service is compatible with Companio’s accounting plans in Estonia and is managed through the same platform.

Service Conditions

• Amazon FBA Accounting is available only to Clients with an active compatible accounting plan in Estonia: Premium Plan.
• The service is limited to accounting for FBA operations only (it does not include other sales channels or platforms).
• Companio is not responsible for discrepancies, account suspensions, or errors originating from the Amazon system.

Exclusions

Amazon FBA Accounting does not include:

• Preparation of legal reports required by Amazon (e.g., KYC documentation, foreign tax certificates).
• Inventory or logistics management.
• Legal review of contracts with Amazon or third parties.
• Handling of disputes or claims with Amazon.

Service Description

Companio Work includes:

• Legal hiring of employees in over 80 countries through local partner entities.
• Formalization of employment contracts in accordance with the legislation of the employee’s country.
• Payroll management, benefits, and local tax obligations.
• Coordination between the Client, the employee, and the employing entity.
• Access to the Companio platform to track the employee’s administrative and employment status.

The Client retains operational supervision of the worker and defines their tasks, schedules, and objectives, while the formal employment relationship is maintained by the local contracting entity.

Service Conditions

• The service is only available to Clients with an active Companio accounting plan.
• Fees and conditions are communicated on a case-by-case basis, depending on the employee’s country of residence, starting from €390 per employee/month.
• The Client is responsible for providing the job description, requirements, conditions, and approval of the budget.
• Companio is not responsible for the productivity, performance, or outcomes of the contracted employee.

Exclusions

Companio Work does not include:

• Recruitment or direct candidate selection.
• Performance evaluations or KPI tracking.
• Training or technical support for the employee.
• Resolution of labor disputes between the Client and the employee.