Job Ad | Accountant Europe

Finnish-owned AutoAccount is expanding its remote organization in Europe. Our micro entrepreneur customers represent a wide range of nationalities running their businesses in several European countries. We produce our unique English AutoAccount services with a strong focus on digital nomads and other international business owners.

We are now looking for an internationally minded accountant to work remotely anywhere in Europe.


  • Processing monthly AutoAccount bookkeeping
  • Expert in local reporting regulation in France


  • A suitable education for example in business administration
  • A few years of work experience in accounting
  • Fluent English and French.
  • Basic IT skills
  • Good understanding of international business communication
  • Readiness for occasional travelling within Europe

We offer an exceptional opportunity to work independently in an international environment with the state of art software and mobile applications.


Please send your application with a salary request or additional questions to .



Accounting service

Entrepreneur’s Money is Wanted | Accounting Service Needed

Accounting service

Entrepreneurship is a fancy kind of sport where one needs to be even more strict regarding money than in his or her personal life. An experienced entrepreneur with accounting service already knows how to deal with different kind of other services which are offered almost as mandatory, although the only certain thing is that they cost money. The rumba begins already when you register your business and at the same time give your contact details. The amount of incoming e-mails, phone calls or even paper mail increases at once. It’s not even guaranteed to be avoided from the bombarding of telemarketers when leaving the phone number box empty since they can carelessly track your current employer’s number given to you. Today there are still companies which take their own privilege to interrupt anyone’s work day and start to sell their products with an endless monolog. However you can’t really give an advise to a start up entrepreneur not to take calls from unknown numbers. Blocking telemarketer’s phone numbers is instead advisable as unnecessary contact attempts start. It’s also recommended to end irrelevant phone calls as quickly as possible and save time for both. However I try to do my best to be polite in these situations since the caller is just doing his or her work and trying to earn a living.

What is Entrepreneur’s Money Desired For? 

First comes to mind insurances, spots for advertisements, phone and telecommunication, electricity contracts, different kind of software and administration services like accounting services. Before I comment on the software and accounting services very familiar to me, I want to pay attention to mystical “business subscriptions”. The only specialty seems to be their higher price compared to consumer subscriptions. Let’s take internet connection subscriptions as examples. It is very hard to get the seller to accept that one wants to buy a similar connection for a company use which is aimed for a private use. ”Well, it is basically our consumer sector’s products which can’t be sold in this case” kind of explanations have become very familiar to me. In the business subscription there are either more services than you will ever need or it might be so that there is no real difference at all when it’s compared to consumer subscription. The only difference is the price which is higher for companies.

An interesting single experience was with an IT application which was aimed for optimizing the electricity usage. The only difference between the company and consumer option was, in addition to higher price, the possibility for monthly payments instead of a single one-off payment. When there was no need for that the next argument was that this consumer subscription can’t be sold to a company. When I didn’t get an answer to ”why not” in the end, I of course made the more cheaper consumer order but under the company’s name as the use was going to be business related. There is also a trap for this topic that one of the requirements for VAT reclaims is that the expense receipt usually has to be under the business name! So when you make purchases for the company you should always try to avoid invoices and receipts with only your own name. And even if it is a tax deductible expense it doesn’t mean it’s free! This kind of misunderstood sale attitude I have also noticed in practice.

Although many offered services like all-inclusive insurances sound reasonable, an entrepreneur has a great risk to drift into a situation where different kinds of fixed administration costs are bigger than the revenues.

Entrepreneur’s Finance – Don’t Underestimate the Common Sense 

AutoAccount is selling accounting services and therefore I am slightly biased to comment on their active sales efforts. I can however say that as long as I can influence on the company we will not do so called cold calling where a number is picked from a list and one calls and tries to sell accounting services. Nowadays the services have to be brought to an entrepreneur’s attention by other means. In addition I recommend you to be very careful about what level of financial management services your size of a company needs. For example if you are a self-employed or you are managing a small company which employs a couple of persons, a basic online accounting service is probably enough. You won’t necessarily need versatile software where the most familiar feature will probably be its fixed monthly payment. It’s recommended to choose a reasonably priced accounting service which however enables to keep your financials available and in your own hands. Often it is also beneficial to brainstorm your own thoughts with someone outside your company but it is dangerous to think that an external consultant knows your specific business better than yourself. Therefore you shouldn’t underestimate yourself as the expert of your own company since no one has spent so much time thinking about your company’s matters.

Micropreneur’s financials can often be controlled by the following information: cash based accounting, bank account balance, the total balance of unpaid expense bills and estimation of the taxable income. This information can be managed and be available very inexpensively with the functions of bank services and online accounting service AutoAccount.

Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:


Starting a Finnish limited liability company (Oy) without share capital

Starting a Finnish limited liability company (Oy) without share capital

A fairly inconspicuous change that allows starting a new limited liability company entirely without share capital took effect on July 1st. We establish companies with customers regularly and just last week postponed the registration of one. This wasn’t because the customer was unwilling to invest in their new company, but for the practical reason that online registration would needed to have been processed by the end of the week. From now on, starting a company online will always be done without share capital.

Especially new entrepreneurs have often had misconceptions about the meaning of share capital. A common one is that this so-called restricted shareholders’ equity is similar to expenses, and becomes unavailable. In practice, money invested as share capital will be immediately transferred to the company’s bank account, and can be used for normal expenses. In bookkeeping, the money has been tied and unavailable to be e.g. returned directly to the owner personally. Considering that nearly all business requires some sort of financial investment in the beginning, a share capital requirement of €2,500 has typically not been an issue. However, removing this requirement makes it easier to start a company, as an entrepreneur can complete the registration immediately and only then specify how much financial investment they need. It remains to be seen whether this is a good or a bad thing. Most likely it will be a bit of both.

Small delay can lead to harsh penalties

One aspect of share capital investing is that the small preliminary investment of shares in the company provides more incentive for the mandatory organization of the company’s administration to be taken seriously. Larger penalty payments imposed by tax authorities create a situation where even a small delay in e.g. establishing bookkeeping can lead to costs for the entrepreneur. I have witnessed situations even this year where an entrepreneur has accumulated over €1,000 of mandatory penalty by submitting reports of intra-community sales late and incorrectly written. This is only one example of situations in which a company founded easily and flexibly between friends has quickly gotten into trouble. Similar problems are sure to increase as starting a company is made easier.

The importance of a company’s bank account

An essential viewpoint into the topic is postponing the opening of a bank account. Because of requirements imposed onto banks, entrepreneurs have occasionally found it nearly impossible to open a bank account. However, starting a limited liability company currently requires such an account, and the prerequisites of opening one have been considered before registering the company in the first place. Since share capital investments are not required, a company can go into business before having a bank account. This can easily cause problems, as the company’s pay traffic is managed using e.g. employees’ own accounts or online payment services. In my Finnis blog post from 11.12.2017 I wrote about how essential being a bank’s customer is to a company. The matter can even be justified by direct cost savings by taking into account how e.g. we at AutoAccount can manage bookkeeping using digital information from banks at a much lower price than the rest of the market.

Starting a company is easy – closing one is not

Despite the previously discussed possible issues, I do not mean to decry this entire update. For instance, we ourselves have founded a subsidiary in Estonia entirely without share capital, since the nature of the business did not require new capital. When needed, the means for investing can be found from other sections of bookkeeping besides share capital. In Estonia, the option to distribute dividends is tied with paying share capital, which for Finland’s benefit does not seem to be included in the new changes.

Many business ideas are based on one’s own skills and know-how, and actual material purchases are barely needed. When a society sends a message to remove obstacles to entrepreneurship and self-employment is more common than before, the change is justified. If, for instance, one’s own employment depends on having to invoice customers through one’s own company, the possibility to easily start an LLC/Oy is welcome. However, an Oy is a less risky option than a business name of a self-employed in regards to e.g. responsibility matters, even for a one-man business.

A tip for new entrepreneurs: despite the seeming ease, do not start a limited liability company without a concrete plan for the future. Starting a company is now easy, but it brings with it a managerial burden, and shutting it down is its own expensive and arduous process.


Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:


AutoAccount starting strongly in Estonia

location independent bookkeeping

Toomas Schipai (left) is the expert in Estonian accounting and Mikko Ilves in overseas services. There’s a skilled location independent bookkeeping team also in Finland.

AutoAccount Tallinn office started in November 2018 providing effortless location independent bookkeeping services for English-speaking micro entrepreneurs with registered business in Finland, France, Estonia or UK. Service is totally location independent and currently the customers represent dozens of nationalities worldwide. The growing customer group are the e-Resident companies registered in Estonia.

MBA Toomas Schipai started in Tallinn office in the beginning of the year. He works as an accountant and an expert of Estonian bookkeeping and taxation. As a matter of fact Toomas is quite an expert in Estonian accounting and is also giving lectures concerning the subject. He also has a long background working in international Nordic companies.

BREXIT puts many English entrepreneurs in a new unknown position how to go on with businesses within EU. UK registered companies will most likely be left out of AutoAccount scope. However e-residency and EU-company is an excellent solution how to ensure the on-going business in the future. Mikko Ilves at AutoAccount has a long experience in working with English businesses and can assist with the start-up process and the company administration.

AutoAccount location independent bookkeeping services are available online and office services, for example registered company addresses, in the heart of Tallinn at Metro Plaza business centre.


Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:




Digitase Oy is the accountant partner in a Startup Kit of Business Finland

Business Finland attracts foreign entrepreneurs to Finland with a new Startup Kit | Business world’s baby pack brings together vital services and contacts

The new program supports the access of foreign experts to the Finnish market. Business Finland’s Startup Kit helps entrepreneurs in Finland to survive in the business startup process, so the entrepreneurs have time for business development and integration into the new country. Similar programs are also available in Canada, New Zealand and France.

Business Finland aims to facilitate the access of international top experts to the Finnish business market by launching a new Startup Kit in Slush. Startup Kit complements Startup Permit which was published in April. Startup Permit is a residence permit for teams from outside the EU, but the new service can also be used by entrepreneurs from within the EU.

Marjo Ilmari, Executive Director from Business Finland compares the service to a kind of business ‘baby pack’.

“It takes courage to pursue your career as a startup entrepreneur. Even more courage is required if you establish your startup venture outside your home country. The package is like a starter kit for new parents, containing all the necessary maternity services and equipment for a newborn. We wanted to bring the same idea to the Finnish business world as well.”

Finland Startup Kit provides all the information about the process and services that different public and private stakeholders can offer to make settling down to Finland easier. The Startup Kit brings together partners who can help the entrepreneurs for example in finding board members and providers of banking, insurance, IP protection, health and accommodation services. Startups are also guided by business mentors to help new entrepreneurs start up in Finland. The entrepreneur gets the services provided by the partners when they register the company in Finland.

“By the end of November, more than 100 non-EU companies from over 20 countries have applied for the Startup Permit. It’s a sign that international experts are interested in Finland,” Ilmari says.

“An international competition for talented entrepreneurs is fierce and, for example, Canada, New Zealand and France offer similar programs. However, Finland has one of the best startup environment in the world* and it has a reputation as a startup-friendly venue with strong technological know-how. It is important to support the development and innovation of our business by opening it up to international companies as well.”

The now-released Startup Kit will be constantly developed to match entrepreneurs’ feedback and partners’ services. Currently, the partners are OP, Leitzinger, Forenom, Terveystalo, Elisa, Whim, Boardio and Digitase, and the service package is continuously seeking new partners from companies and organizations operating in Finland.

Business Finland also offers startup companies Tempo funding, which foreign entrepreneurs can apply for after starting their business in Finland.


Business Finland:
Business Finland is the Finnish innovation funding, trade, investment, and travel promotion organization, headquartered in Helsinki. Business Finland is fully owned by the Finnish Government employing some 600 experts in 40 offices globally and in 20 regional offices around Finland. Business Finland is part of the Team Finland network.




Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:

legal address tallinn estonia

AutoAccount OÜ Tallinn office opening – legal address Tallinn Estonia

AutoAccount is a bookkeeping service designed for international digital nomads and we also provide a legal address Tallinn Estonia. The service is fully location independent and online. Although the process is electronic and digital there are always professional accountants who are completing the books. Despite the team of remote employees we also need a head office where the company is managed from and which is conveniently located for face-to-face meetings. AutoAccount OÜ office was opened today at Metro Plaza Tallinn and currently run by the Board member Mikko Ilves.

A rapid change of European environment creates more demand on location independent services for entrepreneurs. For example immigration and BREXIT have increased enquiries about EU registered companies and digitalisation has made it possible to run the companies remotely. Especially Estonia has invested in e-residency possibilities within EU. The country has enticed thousands of new registered companies who require also local accounting service and legal address Tallinn Estonia. AutoAccount is a tested online bookkeeping service in English and ready to go for this target group. It has to be remembered though that e-resident company cannot normally be used for tax planning. As a matter of fact it can mean a tax residency in several countries.

–Especially Finnish entrepreneurs have sometimes misunderstandings how the business in Finland could be run from Estonian company, Mikko Ilves from AutoAccount OÜ describes. One of our tasks is to guide the business owners in taxation issues to avoid unpleasant surprises.

Our accountant team can provide cost efficient monthly bookkeeping also in other European countries like France and Finland. This requires local expertise in annual statutory reporting which is available via Digibalance group.

AutoAccount OÜ offers also virtual office services at Metro Plaza office and is currently looking for one junior and one senior level of accountant as a part of the launch in Estonia. More information by e-mail


Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:



Job Ad | Accountant Tallinn

Finnish-owned AutoAccount OÜ is expanding its Estonia-based operations and is starting up an office at Metro Plaza Tallinn. Our micro entrepreneur customers represent a wide range of nationalities running their businesses in several European countries. We will produce our unique English AutoAccount services in Tallinn with a strong focus on e-Resident business owners.

We are now looking for an international minded accountant to work in our new Tallinn office. The appreciated features are as follows:

  • A suitable education for example in business administration
  • A few years of work experience in accounting
  • Solid knowledge of Estonian business taxation
  • Fluent Estonian and English. Preferably some level of Finnish
  • Basic IT skills
  • Good understanding of international business communication

We offer an exceptional opportunity to work independently in an international environment with the state of art software and applications.

Please send your application with a salary request (assignment through your own company is also possible) or additional questions to by 6th of August 2018. We aim to fill in the position in the beginning of September.




Digital nomads | Monaco

Accountant for digital nomads

Monaco is the famous principality in French Riviera and is well known for its rich and famous residents. I agree with many people that the place itself is beautiful, clean and safe, which partly explains why so many people would like to move in there or digital nomads just hangout. However, there is one major financial reason why it is as appealing as it is: the lack of income tax.

There are some features about Monaco which are not so well known. The official population is around 38 000 inhabitants including original Monegasques and residents with a foreign background. The unemployment rate is practically zero and as a matter of fact Monaco employs over 50 000 people on a daily basis! Thus, companies located in Monaco employ a huge amount of people living in surrounding areas in France or Italy. These are “normal”, hard-working people who pay their taxes.

It is true though that there is no personal income taxation in Monaco. It concerns people who live in Monaco and have a status of residence which is the key for all the financial benefits in the town. It’s not exceptionally expensive to hang out and live in Monaco. If you avoid certain exclusive restaurants and bars you don’t really spend more money than in any European capital. Food and daily consumables are available in markets and the price level is reasonable. Wine, of course, is much cheaper than for example in the Nordic countries. What makes the difference is housing. If you ever visit Monaco I suggest you have a look at the real estate ads. The acquisition prices or rents of quite moderate apartments are phenomenal. You can find a studio with less than a million euro but that’s about it. So this is the real downside of the zero taxation. The moral question might be that are you willing to pay to your local government for maintaining the society or real estate investors in Monaco? Fortunately that is not my question to answer.

There are a lot of stories how difficult it is to get the residence permit and how super rich you need to be.  That is not exactly how it is. There are two main requirements for a residence permit: you need to have a place to live in Monaco and you must be able to prove you can afford to live in the principality. In order to do that, you need to work in Monaco or if you don’t work you must have that huge bank balance. Since it is very difficult to find a job in Monaco you can always work in your own local company as entrepreneurs do everywhere.

It is not too difficult to start a SARL company and run your business through that. You might be used to a little lower share capital requirements, but 15,000 euro in Monaco is not unbearable. There is local help available for registration, but it is not too difficult to do it yourself if you can cope with written French. All the modern business services like virtual office, co-working spaces etc. are at your reach. Please note that the income of a company is not tax free. As a matter of fact, the tax rate is quite high 30%. However, if you work for your company and are a resident, it might be a good idea to pay you enough salary (tax rate 0%) and avoid showing too much profit in the company.

In the end I need to emphasize one big downside of being within Monaco’s zero taxation. You need to cut the ties, at least to a certain extent, with your original home country. You probably don’t want to end up in the situation where you have to pay income tax to your home country AND high rents in Monaco. In practise this usually means that your near family needs to be able to live with you in Monaco, you are not spending too much time in your original home and you are not a part of the social security in your home country anymore.

Please acknowledge two things regarding this post update: First, the author is not, and will not be, a Monaco resident. Secondly, this is a blog update of personal observations, not a guideline or any piece of consultation advice. That would need to be much more detailed. There are also more practical tax efficient options than Monaco to register a company for a digital nomad. For example, utilising the e-Residency in Estonia.

Author Mikko Ilves is an entrepreneur and the Chairman of the Board of Digibalance Group. More blog updates:



Communication with accountant

Clear communication is one of the key issues when running your business successfully. It is, of course, important in marketing and sales but also with administrational relationships. I just had a meeting with a micro entrepreneur from Eastern Europe who was disappointed with his accountant. He was saying that there were a lot of errors in his books and due to that he had paid too much VAT. I am used to hearing a lot of this kind of talking from the business owners who are generally frustrated to pay different kind of taxes and social payments. However, this gentleman was so anxious about the case that it attracted my interest to hear what kind of problems there had been. He showed me the cash sales reports and we compared the totals with the revenues in the Income Statement. Quite soon it was figured out that there had been confusion with the monthly sales and the accumulated sales, which mean the year-to-date sales from the beginning of the year to the end of the current month. Thus after a few months the sales in the books were already more than doubled from the actual. Consequently, too much VAT had been reported.

Then we discussed how this is possible. The accountant had a long experience, some authorization letters below the name and worked for a proper accounting company. It was obvious that the problem was a communication problem, not from the lack of professional skills. As seen in this case, the communication between the entrepreneur and the accountant needs to be very exact and detailed OR the process needs to be formed so that misunderstandings can be avoided. In this particular case, the foreign language and background played a certain role since the accounting company was not accustomed to the customers with an international background.

Based on this story I was once again ensured that we are on a right track with Digibalance’s AutoAccount service. The whole service supply is built in English and all the possible phases are automated or planned to avoid human errors.

The role of the accountants is more like controlling the books not entering data from unclear papers. The key financials can even be sent directly to the customer’s phone.

The outcome of this conversation with the entrepreneur was that we have one more satisfied AutoAccount customer!

The author is Mikko Ilves, the Chairman of the Board at Digibalance Limited

e-Resident business Estonia

Starting your e-Resident business in Estonia | bank relations are important

Estonia is doing a good job marketing its e-Residency and possibilities to register an e-Resident business in that EU country. Despite the latest security problems with the ID cards, e-Residency has been a success with over 20 000 applications. There has been discussion of what you can actually achieve by being an e-Resident of Estonia. One benefit is a smooth process of setting up a company in EU. However, there are problems involved.

There are some important aspects which should be considered when a foreigner is planning to go on with the company registration. Applying for a personal e-Residency is convenient and easy but it’s only e-Residency, not more. As it is stated quite clearly on their webpage, e-Residency is not a citizenship or a tax residency. However, e-Residency makes it possible to start founding the company in Estonia which takes at first only a few minutes. The first problem is the need for a local legal address and the second one is opening a bank account. The address can be quite easily obtained via some local service provider but the bank account is trickier.

The company needs to have a bank account and the traditional banks have very strict regulations of who can open an account and for what reasons. For example, the legislation in order to prevent money laundering puts the banks in a difficult position everywhere. That’s why it is impossible to open a bank account in Estonia without an actual  visit to the bank and without a reliable business plan. Even if you have a meeting at the bank, it does not necessarily mean that your new company will get the bank account opened . Your company needs to have understandable and reliable local relations in Estonia. If the main reason for founding a company in Estonia is to minimise corporation tax it is quite sure that you will not succeed with the bank. There is a good side of this bank control, though.

There are dozens of good and bad reasons why some people want to register their company in Estonia. If it is due to taxation, it can very easily be a bad reason. First of all you have to understand the distinction of your personal taxation and corporate taxation. Your first point of personal taxation is the country where your personal tax residence is. Normally that is the country where you live. The place of personal taxation is usually quite well understood. There is more misunderstanding with the corporation tax system, which is very appealing in Estonia. The current flat rate of 20% (decreasing 2018) is payable only when the profits are distributed out of the company.

The real tax risk concerns the country who can tax your company. If the business is physically in Estonia (shops etc.) and the management lives in Estonia there are not really any uncertainties. No other country has a right to tax the company.  However, the real situations with e-Residents’ companies are much more complex. The business is often international online business and the company owners/management live away from Estonia. The highly possible outcome is that the company is initially taxed normally in Estonia but the tax authorities of another country raise an interest in the income of the company. In theory, that would not normally cause double taxation since Estonia has tax treaties with several countries, which prevents the double taxation. However, it causes a huge administrational mess in practise. What was meant to be a light and smooth process becomes a nightmare of more complicated accounting, double tax returns and on-going correspondence with the tax authorities. As a summary: costs!

Thus, if you are already having troubles with opening a bank account at a traditional bank (SEB, Danske, Swedbank, LHV) you will most likely also face problems with tax authorities. We are fully aware that e-Residence organisation has come up with alternative solutions with the local bank problem but the risks described above remain. At the same time you might be left without some very beneficial bank services.

Digibalance is a true fintech company who still works in co-operation with the banks, not against them. For example our effortless and affordable AutoAccount bookkeeping service utilises the data which is easily available from the traditional European banks. The mostly automated routine bookkeeping sends your crucial financials to be available on your phone using our DigibalanceApp mobile application. Learn more