- Is your startup governed by specific laws for data privacy etc.
- What about legal disputes, arbitration. How does that work for startups based out of Estonia ?
2. All the EU data laws apply.
3. I guess it depends on how you specify it in your contracts, you could do the disputes/arbitration wherever you want. There is an overview of dispute options here: https://www.eesti.ee/en/entrepreneur/legal-aid/resolution-of... . For example, if you have a customer not paying their invoices that are below 6400 euro you could file an a request in E-toimik/E-file (a paperless court system) and the collection is automatic. You could also sue people "online" there. (disclaimer again, I lead the software architecture/development work on the E-file project.)
Their price structure is not fully pay as you go:
- there're no setup fees; but
- there's a fixed monthly fee—a so called terminal fee of 20EUR; and
- then there're the transaction fees—about 2.2% which is much less (!) competitive than Stripe's fees in the EU—1.4%.
Although I like what I've seen so far, as an app-developer, the fixed monthly fee wasn't acceptable. Plus, interaction with LHV was kind of painful (in this particular case, english was an issue).
And back to LHV, I've seen the PayPal account verification deposit (two payments of a few cents made to one's account) appear extremely fast on the account—I think it was less than one hour.
A bit of back and forth for the KYC process, but the onboarding process and the team are quite good and to the point.