Opening a company in Estonia is very profitable. Estonia is a small Russian-speaking European country that has managed to create the most favorable conditions for doing business.
The main argument in favor of Estonia company incorporation is that the state does not levy a tax on retained earnings, which opens up huge opportunities for increasing and reinvesting capital, optimizing taxes and developing business in general.
You can find out more about all the advantages of the Baltic Republic below in the questions and answers.
What will you get after registering a company in Estonia?
As a result of registration, you become the owner of a company in Estonia with a package of notarized constituent documents:
- Links of the founding decision/agreement and articles of association in Estonian.
- B-card — an extended extract from the Commercial Register in English or Estonian of your choice.
- Contracts for the provision of the contact person and legal address services for 1 year in advance.
Registration of a company in Estonia to a non-resident: Step by step
- First step. You need to decide on the name of the future company in Estonia, the types of activities and the shares of the founders, and then contact us.
- Second step. Arrive in Tallinn for 1 day for personal registration of the company, or send us notarial documents to open a business in Estonia by proxy (samples are provided).
- Third step. Once your company details are entered in the Commercial Register, you can open a bank account in person or remotely.
Fintech Harbor Consulting will help you decide on the most profitable and suitable bank or payment system for your business as well as get an Estonia cryptocurrency license.
When establishing a corporation in Estonia, how long will it take?
Estonian corporation registration takes one working day. Starting an Estonian corporation remotely or in person is the same. The Estonian Commercial Register will list the new firm within 1-5 working days.
All firms follow the registration period and process. They cannot be decreased for new or acquired Estonian companies.
The most appropriate company for Fintech Harbor Consulting experts recommend:
If you have not yet chosen a legal entity to register in Estonia, they advise you to pay attention to the Limited Liability Partnership (OÜ), an analogue of the well-known LLC.
- The size of the authorized capital of OÜ. The minimum capital is 2500 euros. You can organize a company without forming the authorized capital. The obligation to contribute the authorized capital fully arises only when dividends are accrued and paid to oneself.
- OÜ founders. In order to open a company in Estonia, one founder is enough. The number of possible founders of an LLC is not limited. It can be physical or legal faces.
- OÜ management. The governing body is the board, which consists of at least 1 person. A firm founder might also be a board member. A member of the board may not accrue or pay himself a salary.
- List of founding documents. Company articles and memorandum.
- Reporting. Once a year based on the results of the financial year.
- Seal. It is not mandatory, a regular or electronic signature can be used to conclude contracts.
Features of company registration
- Estonian companies have multiple board members. If you don’t define board members’ tasks, anybody may represent the firm.
- The typical notary form is needed for distant Estonian business registration power of attorney. Other nations need a power of attorney apostille.
- Legal entities must deposit 2500 euros in authorized capital to start a registered business. Founders are exempt.
- The Commercial Register of Estonia publicizes company directors and shareholders.