Entrepreneur Account
The simplest way to get started in business
- No accounting obligation
- Calculation of taxes and payment to the Tax and Customs Board is automatic
- Conclusion of the agreement and the account are both free of charge
What is an Entrepreneur Account?
An Entrepreneur Account is meant to be a way for a private person to operate as an entrepreneur in a bureaucracy free and affordable manner, without worrying about financial statements, monthly tax declarations and the payment of taxes – all of this takes place automatically under Entrepreneur Account entries.
An Entrepreneur Account is the best choice when one private person pays another private person for services or goods that they have provided, and for fulfilling the tax obligation arising from the income received.
An individual that has opened an Entrepreneur Account is under no obligation to register as an entrepreneur or to keep a statement of revenue and expenditure.
When using an Entrepreneur Account you may not be a person liable to value added tax or operating as a self-employed person (FIE) in the same or similar area of activity.
How do you open an Entrepreneur Account?
Open an account
If you are not a client of LHV, open a private account
Conclude an agreement
Enter the LHV Internet Bank and conclude an Entrepreneur Account Agreement
