Estonia is one of the most attractive European countries for starting and developing a business. It has clear and transparent legislation in this area, and property rights are fully protected.
For proper registration, we recommend finding out more information on the https://fpro.ee/en/registration-of-companies/.
Rules
The procedure and its specifics are described in the country’s Commercial Code and Investment Law. Key rules include:
- The legal form of the company is selected. This determines business taxation, authorized capital, accounting procedures, and management requirements. The legal form can be a limited liability company, a joint-stock company, a branch, or a representative office of an existing company.
- A unique company name is determined; it should not be identical or similar to existing names.
- Upon registration, the company founder must provide a passport and a real legal address in the country, which can be purchased or rented premises. A description of the company’s activities and information about the beneficiaries and management are required.
- An Estonian identification number must be obtained, which can be obtained at the embassy or consulate of that country, or at a service center. An account is opened in an Estonian or European bank operating in the country.
- An application is submitted via e-Residency, and a state fee is paid.
After the documents and invoices are processed, the company is registered through the e-Business Register portal.
Tips
The process is simple, straightforward, and straightforward. However, it does require strict adherence to all procedures, their order, and the correct selection and completion of documents. It’s worth noting that some documents will require a notary’s signature and seal. An Estonian citizen can be selected as the company’s nominee director. All these services will also incur fees.
Before registering a company name, it’s worth checking it in the relevant registry to avoid rejection. The name should not be the same as any other company name or product brand.
The articles of association must be prepared in both Estonian and English. If the turnover exceeds 40,000 euros per year, VAT will be payable, and a VAT number will be required. It is recommended to contact local lawyers who will help with document preparation and guide you through the entire business registration process.