Terms of Service
CompanioEstonia OÜ is an Estonian company with registration number 14522788, operating license FIU000295, registered in Harju maakond, Tallinn, Lasnamäe linnaosa, Lõõtsa tn 2a, 11415, Estonia.
Carefully read the following contract, as it describes the terms and conditions under which the accounting and business consulting services offered by CompanioEstonia OÜ will be governed.
1. Subjects of the contract
On the one hand, your company is registered in Estonia and represented by you (from now on, the CLIENT).
Conversely, CompanioEstonia OÜ, registered in Estonia, registration number 14522788, and address Lõõtsa 2a, Tallinn, 11415, Harju maakond, Estonia, represented by the board member Ignacio Nieto Carvajal, born 06/01/1980 and with personal code of e-Resident 38001060164. (from now on, the PROVIDER).
2. Terms and conditions of service
Your registration as a customer on the website of CompanioEstonia OÜ, including “Companio” (https://companio.co), “Companio One”, “Companio Work”, “Companio Prime” and others, and its use to the services of CompanioEstonia OÜ, including, but not limited to company incorporation, virtual office, legal address and person of contact, accounting, compliance, taxes, and consulting, constitutes the acceptance of the CLIENT of being subject to these terms and conditions, which establishes a contractual relationship between the PROVIDER and CompanioEstonia OÜ.
If you do not accept this contract, you can not access or use any of the services of CompanioEstonia OÜ. These terms expressly replace previous agreements or contracts with you. No other verbal or written contract will be applied except when agreed and authorized in writing by CompanioEstonia OÜ.
The terms “we, “our,” “us, ” and “PROVIDER” refer to CompanioEstonia OÜ and the activity offered by CompanioEstonia OÜ in the framework of the services of “Companio” through the website https://companio.co.
The terms “client(s), “you,” or “CLIENT” refers to the site’s customers, users, and any other financial investor of our services.
The term “Your business” refers to your company, financial institution, business activity, or freelancing activity of which the CLIENT (you) is the representative, shareholder, or member of the board of directors.
The term “Services provided by the PROVIDER” refers to all activities and services offered by CompanioEstonia OÜ to your company, including, but not limited to, one or several of the following activities: accounting, business consulting, presentation of annual or monthly taxes, monthly VAT declarations (VAT), company and business administrative tasks, taxes and tax reports, and any other product or service you may have acquired from us.
The term “Cryptocurrency Company” or “Crypto Company” refers to any company that manages, presents transactions, bank transfers, financial movements, or any other element subject to be a cryptocurrency accounting record, including (but not limited to) Bitcoin, Ethereum, Litecoin, and so on. Also included in this category are companies that handle any virtual currency or asset, such as tokens, which have economic value or can be bought, sold, or exchanged for fiat money, products, or services.
The term “content” refers to any text, images, products, publications, links, software, applications, and external programs necessary to develop the activity to manage your company.
The purpose of the contract is the agreement consisting of the provision, by the PROVIDER, of the following works or services:
- Provision of virtual office services, including legal address and person of contact in Estonia.
- Monthly accounting services.
- Financial and bookkeeping tasks required to comply with the services provided by the PROVIDER.
- Business Consulting.
- Any other extra services agreed upon between the parties.
The provision of services under this contract will be performed by the PROVIDER following the needs of the CLIENT’s business, according to and complying with the legislation in force, and limited to the scope of the services provided by the PROVIDER as specified in section 6.1.
In any case, the PROVIDER will provide the service with total autonomy and independence concerning the CLIENT and by the degree of specialization and diligence that characterizes him, according to the uses and customs of his activity sector.
The responsibilities and obligations of both parties to carry out the specified activities and services are described in section 6.
5. Modifications or extensions of the object
If, during the term of this contract, the CLIENT and/or the PROVIDER considers it appropriate to modify and/or extend the provision of services that are the object of this contract:
Where appropriate, if the PROVIDER considers it necessary to modify or alter the services that are the object of this contract, the latter must notify the other Party to negotiate and/or agree on the new price for the provision of services.
The provision of any additional or complementary service to those described here, which has been requested by the CLIENT, will be governed by the stipulations of this contract.
6. Obligations of the parties
6.1. Obligations of the PROVIDER
The PROVIDER undertakes to provide the services for which he is hired diligently and by the professional uses and customs of his sector of activity.
Likewise, the PROVIDER agrees to provide services within the dates and/or deadlines specified in the contract.
In addition, the PROVIDER acknowledges having informed the CLIENT, through the information shown on the website “Companio” (https://companio.co), or by direct communication with the CLIENT, about the essential characteristics of the provision of services covered by this contract and/or all information on how and/or under what conditions are provided or performed, in addition to any other information that may be necessary.
The obligations of the PROVIDER for the accounting service include:
- record the cash receipts, sales invoices, and purchase invoices of the client.
- prepare and record taxes corresponding to the salaries of the employees.
- perform the bank reconciliation and record bank transactions.
- import and access bank statements and client movements for such bank reconciliation (under the CLIENT’s express authorization).
- prepare and send tax and VAT payment reports to the Estonian Tax and Customs Board.
- prepare and record payments to the Tax Office derived from the CLIENT’s obligations in their bank accounts (under the CLIENT’s express authorization).
6.2. Obligations of the CLIENT
The CLIENT undertakes to inform or deliver all useful, relevant, and truthful information for the correct provision of services by the PROVIDER. Especially all data or information related to their particular needs that would contribute to an optimal provision of services by the PROVIDER. The CLIENT agrees to deliver that information in the way and format specified by the PROVIDER. The deadline for such delivery is the 5th day of the following month for the services being provided.
This includes, but is not limited to: the personal data of the CLIENT(s) and their company, all sales and purchase invoices of the company in the periods of the provision of the service, and the bank statements and movements necessary to make the bank reconciliation for the company.
Likewise, the CLIENT commits to collaborate with the PROVIDER during the provision of its services, not hindering, hampering, or obstructing them.
It is the responsibility of the CLIENT(s) to guarantee that their company, and its activities, strictly adhere to legality and the current legislation, both Estonian and European. The CLIENT(s) is ultimately responsible for any claim, sanction, fine, or other legal process directed to their company. In no case shall the PROVIDER be liable for the actions or consequences derived from the actions of the CLIENT(s) or their company.
The CLIENT(s) undertakes to prevent their company from having a permanent establishment in any other country following the law, as reflected by the double taxation agreements between Estonia and other countries or in any similar agreement from another country.
The CLIENT(s) agrees to pay the fee for the services provided by the PROVIDER as part of this contract, as specified in the pricing page of Companio (https://companio.co/pricing/). Cryptocurrency companies are subject to special prices. Specifically, a price of 99€ per hour spent on the provision of the services will be applied to cryptocurrency companies, not the prices specified on the website above, regardless of the number of invoices of the CLIENT for the given period.
The prices specified in this contract do not include VAT.
For companies whose level or the number of invoices exceeds the ones reflected in the plans contained in the pricing page specified above, a price of 99€ per hour spent on the provision of the services will be applied. This hourly fee also applies to cryptocurrency companies for any number of purchase or sales invoices.
If the CLIENT(s) signed up for the services of the PROVIDER through the special promotion “#REGISTER4FREE” or “ALLYOUNEED” the CLIENT(s) only has to pay for the state and notary fees (265€) and is subject to a three-month commitment period starting from the day the company enters into the e-Business registry. The offer is not cumulative or compatible with other offers or promotions. If the CLIENT(s) wishes to cancel their services before the three-month commitment period ends, the CLIENT(s) should pay for the initial three months of the services of the PROVIDER. If the fee of the PROVIDER cannot be determined because the services have not been provided during that period at the moment of the cancelation, the minimum monthly fee (as specified in https://companio.co/pricing/) will be applied for those months.
If the CLIENT(s) signed up for the services of the PROVIDER through the special promotion “#SWITCH4THREE” the price for the switching process is 0€ (free), and the CLIENT(s) will be refunded the last three months of the fee paid to the PROVIDER for its accounting, compliance and taxes services after 12 months if the CLIENT(s) contract with the PROVIDER is still valid and all due feeds have been paid by the CLIENT(s) for the services of the PROVIDER up to that point. The offer is not cumulative or compatible with other offers or promotions. If the CLIENT(s) wishes to cancel their services before the three-month commitment period ends, the CLIENT(s) should pay for the initial three months of the services of the PROVIDER. If the fee of the PROVIDER cannot be determined because the services have not been provided during that period at the moment of the cancelation, the minimum monthly fee (as specified in https://companio.co/pricing/) will be applied for those months.
The CLIENT is responsible for guaranteeing that the documentary support of the transactions, invoices, and other financial data provided to the PROVIDER is correct. This includes (but is not limited to) bank movements and transactions, the data of customers, their VAT numbers, and the amounts specified in the invoices. If a failure to provide the right information from the CLIENT or a mistake in the invoices provided by the CLIENT forces the PROVIDER to redo or resubmit the reports and/or ledger annotations for one accountancy period, the CLIENT should compensate the PROVIDER with one extra monthly accountancy fee based on the prices defined previously in this section.
The CLIENT must pay the monthly invoice in due time. The payment for the accounting services provided by the PROVIDER will be charged on the 25th of the following month after the accounting activities have been completed. The invoice will be generated and sent to the customer upon successful payment. If the payment cannot be charged by the PROVIDER, a retry will be automatically attempted on the 28th of that month and the 1st day of the following month, and a notification will be sent to the CLIENT. If the CLIENT fails to fulfill the obligations to pay for the services of the PROVIDER, a late payment penalty fee of 0.5% of the amount to be paid will start to apply to start from the date on which the invoice was issued.
The PROVIDER reserves the right to apply a penalty of 2€ per document uploaded after the 5th day of the following month for which the service is being provided. For example, a document issued on the 28th of September that gets uploaded to the system from the 6th of October will add an extra penalty fee of 2€ per document to the final monthly fee. This is cumulative with any other document, cash receipt, sales invoice, and purchase invoice uploaded after the deadline.
The PROVIDER reserves the right to apply an EXTRA fee to the CLIENT due to disputes caused by the CLIENT that correspond to the legit invoice for the service provided by the PROVIDER that should have been charged to the CLIENT and will have to be paid by the CLIENT unless the CLIENT can prove that the disputed payment should not be charged by the PROVIDER.
7. Follow up on the execution of the agreement
The PROVIDER undertakes, to facilitate monitoring the provision of services included in this contract, to periodically send the CLIENT information and/or documentation on the status of the activities carried out in the execution of this contract.
However, the CLIENT reserves the right to require from the PROVIDER any additional information or documentation that may be necessary to perform a proper follow-up of the provision of services and, where appropriate, under the proper justification in compliance with the applicable regulations.
The PROVIDER reserves the right to discuss and revise the prices of this contract by notifying the other party at least one month in advance.
8. Activation of services and duration
The PROVIDER will start to provide its services to the client when the contract between the parties becomes effective.
In the case of new business incorporation, the accountancy services will be provided when the CLIENT signs up. During the incorporation process, and before the CLIENT’s business has been registered in the registry, the PROVIDER will grant the CLIENT six free weeks in which no monthly fee will be charged to the CLIENT as long as the company is not registered during that time. After those six weeks, the PROVIDER will start charging its minimum fee of 79€/mo while the company is not registered. Once the business enters the registry, the PROVIDER will start charging its monthly service fee every 25th of the month, with the fees specified in “Section 6.2. Obligations of the CLIENT”, regardless of whether six weeks have passed or not since the CLIENT signed up.
If switching to the services offered by the PROVIDER from another service provider, the PROVIDER will start to provide its services to the CLIENT from the moment the CLIENT signs up. To fulfill its services, the CLIENT must provide to CompanioEstonia OÜ, its representatives, or employees the required documents and permissions to perform the accounting duties of the company. The CLIENT agrees to provide these documents as soon as possible to the PROVIDER. The PROVIDER is thus required to perform the accounting duties of the business of a switching CLIENT from the first day of the month when the sign-up happens, and the previous provider must fulfill the accounting duties for the CLIENT up until that point.
In the case of switching to the services offered by the PROVIDER from another service provider, under no circumstance will the PROVIDER be held responsible for services not provided if the CLIENT has not provided the PROVIDER with the required documents from the previous provider to continue the accounting duties of the business of the CLIENT, although the PROVIDER will still be charging the monthly fee included as part of its overall services (which include other services not related to accounting such as a person of contact and legal address provider, or virtual office services).
The services and functions described in the clause relating to the object of the contract will be provided by the PROVIDER to the CLIENT for as long as the CLIENT deems necessary. The CLIENT agrees to notify the PROVIDER at least before the end of the month of the termination of the contract to complete the pending activities that are part of the services offered by the PROVIDER. The current month will be charged if the accounting services offered by the PROVIDER have been provided to the customer.
The CLIENT must pay for any pending invoice or services provided by the PROVIDED that were unpaid.
9. Payment method
Payment for the services provided by CompanioEstonia OÜ is final and non-refundable. This includes the payment for the company registration pack if the CLIENT discontinues the registration process, the e-Residency is not granted by the Estonian authorities, or any other situation preventing the CLIENT from finishing the company registration process.
The price for the services contracted will be billed by the following instructions:
From the 25th day of the month following the month for which the services are being provided and depending on the services provided. The invoice will be generated and made available to the CLIENT once the payment is successful.
The PROVIDER will invoice the amount of the price due according to the payment terms of the services as stated in the previous paragraph and must break down in each of the invoices the works or the concepts of the services for which they are issued. The amount of the invoices will be understood to be made effective by the CLIENT as soon as the payment invoice or proof of payment is presented.
The payment must be performed by bank card payment, deposit, or bank transfer to the account of which the PROVIDER is the representative. The PROVIDER will provide the CLIENT with the appropriate online payment mechanisms to allow payment using a bank card, deposit, or transfer.
10. Resources and/or material for the provision of services
The PROVIDER shall use, for the provision of the services agreed here, the appropriate material means and, where appropriate, its staff, who would perform their duties using the most appropriate resources and following the instructions issued by the PROVIDER accordingly.
The PROVIDER also ensures that the staff assigned to the provision of the contracted services knows the CLIENT’s particular needs in relation to said services.
In particular, the PROVIDER undertakes that the members of the staff or employees assigned to the development of the contracted services have the appropriate qualifications and experience to carry out the required work. Additionally, the PROVIDER undertakes that these employees know the content of the clauses relating to intellectual property, confidentiality, GDPR, and the treatment of personal data established in the contract and their obligation to respect them.
The PROVIDER undertakes to carry out its work diligently and with due quality, committing itself to assume responsibility for errors, defects, or delays in its execution or its incorrect execution or non-execution.
However, the PROVIDER will not be responsible for errors, defects, or delays produced in the execution, or incorrect execution or non-execution of the contract, when this emanates from the omission or falsification of any information, document, or data provided by the CLIENT; The PROVIDER is also not obliged to verify the authenticity and suitability of said data or information.
Finally, it is the CLIENT’s responsibility to guarantee that his company complies with the law in Estonia and Europe.
12. Force majeure
Neither Party can be considered responsible for a delay, defect, or error in the execution of its professional obligations when those are due or caused by a cause of force majeure. However, the Parties are obliged to notify the other Party when they know that a cause of this nature has occurred and will affect the correct execution of their obligations.
“Force majeure” shall mean flood, fire, explosion, damage to the production plant, lockout, strike, civil disturbance, blockade, embargo, mandate, law, order, regulation, ordinance, demand, or request of any Government or any subdivision or representative of this, or any other cause, that is beyond the control of the party involved. Under no circumstances the lack of funds constitutes a cause of force majeure.
13. The duty of secrecy and confidentiality
The Parties undertake that the development of this contract is governed by the utmost confidentiality, respecting the duty of diligence and professional secrecy. Thus, both Parties undertake not to disclose any information relating to this contract, whether relating to negotiations, transactions, or any matter of the parties, the content or existence of the agreement subscribed here, or the activities or services that are going to be provided.
In particular, the PROVIDER agrees that any information or documentation that the CLIENT delivers to him or to which he has access for any reason, directly or indirectly, will be used only to serve the fulfillment of the provision of services object of this contract and, in any case, to perform their services respecting the principles of good faith, diligence and the duty of secrecy.
Consequently, it may not provide third parties or use for its benefit the information obtained in the exercise of the provision of services, provided that it may favor them or when said disclosure could harm the CLIENT in any way.
Consequently, the PROVIDER expressly undertakes not to make copies, record, reproduce, manipulate, disclose to third parties, or make available to them the information or documentation that may be received directly or indirectly from the CLIENT unless it is strictly necessary for the fulfillment of the services that the PROVIDER offers to the CLIENT.
14. Data protection
The Parties are aware that by signing this contract, they consent that their data collected on the website of Companio (https://companio.co), as well as any information that could be collected in the future for the provision of the services provided by the PROVIDER, could be incorporated by the other Party to its automated file or not of data collection to execute the professional relationship correctly and, eventually, for an administrative and/or commercial management.
In any case, the Parties undertake that these personal data will not be communicated to third parties unless it is necessary to fulfill the services offered by the PROVIDER to the client. If it were the case that some communication of personal data were to be made, they always commit themselves and, previously, to request the express, informed, and unequivocal consent of the Party that is the holder of said personal data.
This clause does not result in any limitation or restriction for the Parties regarding the exercise of rights of access, rectification, deletion, limitation, portability, or opposition with which they may have.
Regarding personal data to which the PROVIDER has access as a result of the provision of the service object of this contract, they are the exclusive property of the CLIENT and shall be understood as voluntarily provided by him and shall only be used to provide the services required in the contract, the PROVIDER pledging not to apply them or use them for purposes other than those agreed upon and not to communicate them to other people, not even for conservation purposes, and also to return the files, automated or not, to the CLIENT. of a personal nature to those who would have had access, when required to do so by the CLIENT, and/or proceed to the destruction of the media and/or documents containing said data at the end of this contract, and, in any case, at the expiration of this contract.
In any case, the PROVIDER agrees that the processing of personal data to which he has access because of the provision of the services object of this contract, and of any information, in general, provided by the CLIENT, be carried out maintaining the strictest professional secrecy and absolute confidentiality concerning the data of the same, as well as to diligently fulfill the duty of guardianship and custody over them imposed by the GDPR.
These duties shall apply to the PROVIDER during the term of this contract and even after the termination for any reason thereof, being liable to the CLIENT for breach of the obligations assumed herein.
Likewise, the PROVIDER undertakes to adopt the necessary technical and/or organizational measures to protect the personal data to which it has access and to prevent its alteration, loss, treatment, and unauthorized access and follow the GDPR and its complementary development regulations.
The PROVIDER will respond to the CLIENT for the breach of the obligations assumed under this clause, even when said breach is attributable, in its case, to the working personnel to which he must respond legally.
15. Causes of resolution
The Parties undertake to fulfill the obligations that emanate from this contract for each of them under the terms and conditions established throughout it. If any of the Parties breached any of the obligations of the contract or fulfilled them in a defective manner, the Party that in turn did comply with its own may consider that there has been a breach of the contract contained in this document, being empowered to rescind the same.
In addition, the contract will be solved by the definitive or provisional insolvency, the suspension of payments, bankruptcy, and/or the liquidation of any of the Parties.
It will also cause early termination of the contract when there are demonstrable deficiencies in the services provided by the PROVIDER or after two months of non-payment for the services performed by the CLIENT.
Likewise, it will be cause for termination of the contract when the PROVIDER stops providing the services or part of the services that are part of the object of this contract. It will be understood that the PROVIDER has stopped providing the services when this activity is not carried out regularly or with the material and personal means appropriate to it.
Likewise, the contract may be terminated at the request of any of the Parties, provided that the Party that so wishes notifies the other Party in writing and by the notification procedure of this contract at least two months in advance.
In the latter case, when the contract is terminated by the CLIENT, it must, however, pay the PROVIDER any invoice accrued and not paid for the services rendered during the time the contract has been in force, as well as possible compensation for damages if you exercise your will without respecting the notice and method of notification established here.
Likewise, when the contract is resolved by the will of the PROVIDER, the latter must provide the CLIENT with any document, element, good, material, and/or production that could have resulted from his activity of rendering services up to that moment, in addition to possible compensation for damages that could be derived from not respecting the notice, times and notification methods provided herein.
To make any notification between the Parties subject to this contract, it will be used by the PROVIDER, the email address with which the CLIENT registered for the services of Companio through the website https://companio.co, and by the CLIENT, the email address firstname.lastname@example.org.
17. Legal actions, applicable legislation, and jurisdiction
This contract replaces any previous contract for the same services between the CLIENT and the PROVIDER.
Any relative litigation, especially, but not limited to, the formation, validity, interpretation, signature, provision, execution, or termination of this contract and, in general, to the relationship established between the Parties, will be subject to Estonian law and the courts of Estonia. If any clause of this contract is considered invalid, this fact will not affect the validity of the remaining clauses that form this contract.
In no event will the PROVIDER be liable for damages arising out of or in any way connected to this agreement exceeding fees paid in respect of the services under this service agreement. The existence of one or more claims under this agreement will not increase the maximum liability amount. In no event shall the PROVIDER’s suppliers or third-party servicers have any liability arising out of or in any way connected to this agreement.
In no event shall the PROVIDER be liable to the CLIENT for any (i) special, indirect, incidental, punitive, or consequential damages, (ii) lost savings, profits, data, use, or goodwill, (iii) business interruption, even if notified in advance of such possibility, or (iv) personal or property damage arising out of or in any way connected to this agreement, regardless of the cause of action or the theory of liability, whether in contract, tort (including negligence, gross negligence, fundamental breach, breach of a fundamental term) or otherwise. In no event shall the PROVIDER be liable for procurement or costs of substitute products or services. The foregoing limitations will apply notwithstanding any failure of the essential purpose of any limited remedy herein.
To the extent that the PROVIDER may not, as a matter of law, disclaim any implied warranty or limit liabilities, the scope and duration of such warranty and the extent of the PROVIDER liability will be the minimum permitted under such law. The PROVIDER shall not be liable for any claims, losses, or liabilities related to any product, client, or third party.
This document will be signed digitally.