Xolo's mission is to make starting and running a modern microbusiness 10 times easier. Xolo saves you time and money by making the hard parts of the business like banking, accounting, and tax easy.
- Hassle-free and great customer support
- No need to create a company with Xolo Go
- Business tools and accounting
- Many automation and integrations
- Easy to use
- Not suitable for eCommerce, dropshipping and complex activities
Estonia, a small Baltic country located south of Finland and west of Russia, has set up an e-residence system. This system quickly became popular for digital nomads. Basically, Estonia is a country with a 100% digital and simplified administration.
Once you become an Estonian resident or e-resident, you will be able to access online services to set up your company. This takes on average 30 minutes and costs about 290€. Becoming an e-resident costs 100€ and you will have to wait about a month to receive your kit. So for less than 400€, you will be able to create a European company. Learn more about the e-residency
But what does this have to do with Xolo? Well, Xolo, formerly called LeapIn, was originally a service that helps you create your e-residency and your Estonian company. Then, they take care of the accounting, taxes and save you a lot of time thanks to their integrations and partners.
Now, they offer two different services, we will detail everything in the rest of our article.
Details of Xolo’s features
Xolo is more for freelancers who have a fairly simple billing system. If you plan to create a complex company, such as a cashback system, dropshipping, a cryptographic company or other, they will refuse your application.
We don’t yet support businesses involved in buying and selling physical goods, including drop shipping and Amazon FBA. We also can’t support business activities which require a license in Estonia such as financial services, travel agencies, gambling, the sale of alcohol etc. Xolo doesn’t support companies dealing with cryptocurrencies or who hold ICOs to get funding at the moment either.Xolo
Freelance without a company
Thanks to the Xolo Go system, there is no need to become an Estonian resident or e-resident, nor to create a company. What’s more, it’s completely free, they only charge 5% on your cash withdrawals. The VAT calculation is also simplified, so you won’t have to worry about anything.
Xolo Go is made for freelancers anywhere in the world who:
- Want to pay right away
- Do not need their own business
- Want to pay quickly and easily
You don’t need to create a company
Xolo Go is based on an innovative partnership model that is accepted in all European countries. Use the Xolo legal framework for business without having to worry about starting your own business.
Business and Banking Relationships
Start creating and sending invoices with automatic VAT calculation in 10 minutes. It comes with a special commercial bank account to get you started right away. You will even get a dedicated bank account (IBAN).
Get paid at any time
You decide when to withdraw money from your commercial bank account. There are no monthly fees, they charge only 5% of payments without deducting personal taxes.
Freelance with your own EU company
Xolo Leap is for freelancers from all over the world who:
- Want to do business regularly
- Want to own a business
- Want to build their brand
They will set up your company and take care of all the necessary documents while you enjoy 100% distance onboard.
Accounting and Reporting
After the establishment of the company, Xolo takes care of the accounting, implementation and reporting of your company. Plans start from 79 €/month.
Xolo has developed a mobile application that can only be used by Leap users. It will allow to access your dashboard and to manage everything from the phone. You can download the application here: Google Play and App Store
Their team of accountants will immediately answer your questions and contact you if you need anything.
How much does Xolo cost?
As a reminder, the Go plan is completely free, you will only have to pay a 5% fee on your withdrawals. If you want to quickly bill your customers without having to create a company, we advise you to choose this plan.
The Leap plan starts at €79/month and the only differences with the Leap Pro plan and the Growth plan are the different premium options. Indeed, with the Leap plan, you won’t have a dedicated accountant nor the possibility to link your PayPal and Stripe with the Xolo platform.
However, in order to be able to register, you will have to become an e-Resident in Estonia and set up your company. This will involve a fee of about 320€.
Refer 2 friends and earn 300€
If you are happy with the services offered by Xolo and would like to share them with your friends or simply promote Xolo, you can do so while earning money.
To do so, you will need to go to your Xolo account, in the “referral program” section and then share the referral link with your friends, family or community.
Each time you refer 2 people, you will earn 300€ with no limit. This means that if you refer 20 people, you will earn 3000€.
In addition, each of your friends who came through your referral link will receive a bonus of 100€ to be used for their Xolo subscription.
Frequently Asked Questions
💡 If you have any questions that remain unanswered, you can contact them at the following email address: [email protected]
Is Xolo legit?
It is one of the pioneers in terms of service for Estonian e-residents. Xolo used to be called Leapin, which can be confusing.
How the withdrawal process work?
There are two differences to consider. The Go service allows you to withdraw your money at any time with a 5% fee charged by Xolo. Then, there will be applicable taxes depending on your country of residence. The Leapin service works like a company because you are the owner of your company. You will therefore be able to pay yourself a salary or dividends, the amount of taxes deducted will also depend on your country of residence.
Can I change my plan?
Yes, it’s possible to upgrade from Leap to Leap Pro and Growth. You can also combine the Go service with the Leap service if needed.
Can I stop my subscription?
With the Go service, you can stop at anytime. But when you are the owner of an Estonian company (with Leap service), you can’t close your company with a snap of a finger. The liquidation process will take 8 at 10 months.