Rimuut is a EU-based Virtual Company Service Provider for freelancers who want to invoice their customers and collect payments, without starting a business. Basically, Rimuut act as your company, your financial and commercial representative.
What is a Virtual Company?
A Virtual Company is a borderless, micro-company that you can use to conduct business all around the world as a legitimate entity without actually starting a business. This is made possible by Estonia’s e-Residency program and the passion of our team, to help freelancers, digital nomads and people who does not want to undergo the burden and cost of starting a company locally.
How does it work in terms of laws?
When you register to Rimuut and create your first invoice, we legally become your digital service reseller, buying the service you provided, and reselling it to your client. This way, Rimuut, you and your client become “Reseller”, “Subcontractor” and “Buyer” in that order.
Each virtual company’s legal entities are Rimuut itself, and each payment is done to these virtual companies as a salary payment.
It’s all according to international laws & regulations.
What’s the advantage of having a Virtual Company rather than a conventional one?
For starters, starting a business involves several fixed costs, depending on which country you are from, can take between a week and two months. In addition to that, you’ll need an accountant, you’ll have notary costs, etc. When each and every cost pile up, you may well be starting your business with a debt, like a new grad in USA. Having a virtual company will help you avoid that cost and in addition, being a borderless company plays well with digital nomads and freelancers that operate on a global scale.
Can I invoice my customers from [insert country name here]?
You can invoice any of your customers as long as they have a valid VAT number. Absence of a VAT-ID may result in additional taxes in accordance with the tax laws and regulations of the country of residence.
Can my freelancer from [insert country name here] send my company in [insert country name here]?
Your freelancers, wherever they may be, can send your company, anywhere in the world, an invoice via Rimuut, as long as you have a valid VAT-ID in your country of residence.
Is there a minimum / maximum amount limit on invoices & payment?
There is for minimum invoice amount, but no limit on how high you can go. For each and every currency, there is a minimum invoicing amount of 100 EUR or equivalent, with several exceptions here and there. For not to get you confused, here’s our lovely, hand-crafted calculator for your needs: launch calculator
Does my client need to sign up too?
Yes. In order to make a payment, your client needs to follow the link e-mailed to him when you start an invoicing transaction and create a client account or to sign in if he is already signed up for Rimuut.
We know it is sometimes easier to make an AI pass the Turing Test than to make a client do SOMETHING, but we made sure that your client can register in 10 seconds to make a payment and receive his invoices. But, just in case he makes a big deal of it, you can send him this 10-second video to prove them that anyone can do it, no matter how full his hands are or if he is on a “very tight schedule”. (We are looking at you, Janice from accounting.)
This is all necessary to keep Rimuut and our community of freelancers and brands a safe and secure environment and operate accordingly to law and regulations.
How do I generate an invoice via my Virtual Company?
It’s as easy as it gets. First, if you haven’t done it yet, get your verification by providing your ID and proof of address. Then, fill in your client’s info, the invoice amount, project details and voila! That’s all. Your first invoice from your virtual company will be on its way to grab that sweet dough!
When is the invoice sent to my customer?
The invoice is generated and sent as soon as the payment is made. That’s all. No waiting, no “the invoice got lost in the post office”. What a time to be alive!
Does the invoice include my information, like name, address, etc.?
The invoice does not contain any information other than Rimuut’s, your customer’s and the transactional details like the service description, the sum amount and etc. Rimuut is YOUR company, so our information IS your information. (Me casa? No.)
How does my client use the invoice I’ve sent from Rimuut?
Your clients use it however they use any invoice they got for paying for a digital good & service. Rimuut invoices are not some ancient, ritualistic scrolls of power: They are easily accountable, global and tax deductible receipts of service.
Are the invoices I created from Rimuut cause any problems for my client?
Rimuut invoices are commercially accepted, EU-originated lawful and valid proofs of service; which are accepted internationally.
Does my client have to be a company?
Yes. Your client is required to have a company name, company address and a valid VAT (EU) / Valid Tax ID. Through our KYC process, we check your clients’ information as well. Please note that VAT might apply in the absence of a valid VAT ID.
Does Rimuut pay for my income tax as an individual?
No, sadly. Payments coming through Rimuut to your bank account is subjected to taxes in accordance to your local tax regulations. You should talk with a tax consultant about your “salary statued” payments from Rimuut and how to disclose the tax associated with it.
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