Registration of companies in Estonia
If you want to start your business in Europe, but have not yet decided on a country, consider Estonia as an option to start your business in the European Union.
Types of companies that can be registered by non-residents in Estonia
- Limited company. This may be a private company or an open society.
- Different types of partnerships.
- Individual entrepreneur.
Statistics show that companies of the first type are the most popular among foreign entrepreneurs. For medium-sized businesses, such companies are the most profitable option. A limited liability company can be opened by one beneficiary, to whom local legislation grants the right to membership in the board of directors (as there is no mandatory requirement in Estonia, according to which only residents can enter the board). The minimum share capital is 2500 euros.
Procedure for registration of a company in Estonia by a non-resident
- Getting a C-visa and visiting the country.
- Passing the registration procedure (if a non-resident opens a limited liability company or registers individual entrepreneurship, then this procedure can be completed on the national portal of the Commercial Register).
- Choosing a business name. Important! It is necessary to choose a company name in compliance with all the norms of Estonian law (in the names of some forms of business, certain words are unacceptable).
- Obtaining a legal address.
- Conclusion of a contract with a person who will play the role of contact of the founders in the territory of this country.
- Registration of mobile-ID or ID-card, which is needed in order to identify your company.
- Installing software for electronic signature.
- Indicating on the portal information about the founders of the company, its name, field of activity and statute.
- Payment of state fees (on average, 13-145 euros). An expedited procedure requires an increase in the fee.
- Contribution of share capital (optional).
The average duration of the procedure is from 20 minutes to 1 day. If this is a notarization – the period is increased to 3 days.
After the end of registration, the company is put on record in the fiscal service. If necessary, the regulatory authorities issue a VAT number, which is needed in order to make the monthly payment of value added tax.