Start company in Estonia in 4 steps!
- 📊 Delay paying Corporation Tax if your company plans to reinvest its profits. Could this mean a 0% Corporation Tax in the future? Get a tax guide here.
- 💼 Get your e-Residency card and go completely paperless with your company. You can digitally sign all your letters from authorities, handle documents, carry out business correspondence, encrypt data, and communicate securely with your partners.
- 💱 If you’re looking to offer cryptocurrency-related services like exchanges or digital wallets, obtaining a cryptocurrency license in Estonia is a breeze.
- 🏦 Opening a bank account has never been easier, whether it’s in Estonia or elsewhere, with the help of Eesti Consulting. No more hassle!
How to start a company in Estonia
Starting a company in Estonia offers various registration options. In this article, we’ll focus on the most commonly used business structure in Estonia: the limited liability company (LLC), also known as “osaühing” or abbreviated as “OÜ.”
START COMPANY THROUGH A NOTARY
There are 2 different ways of this method. A founder will meet a notary or we will act as an attorney. To act as attorney, in the name of the client we need to get notarized and apostilled Power of Attorney. Then we will order a certified translation of this document to the Estonian language. Then the notary will prepare an application of establishing a company, the memorandum of association and articles of association.
START COMPANY THROUGH e-Residency card
We recommend a company registration through an e-Residency card. See this video to explore how to apply for an e-Residency card
- Become and e-Resident here: https://e-resident.gov.ee/become-an-e-resident/
- Visit e-Residency Marketplace to compare all legal service providers and choose solution for your company
- Get a free certificate of tax residency ( worth: 100€ – you pay: 0€) if you choose Eesti Consulting as your legal advisor and company formation agent. Coupon code: #FREETAXRESIDENCY
Recruitments of a company in Estonia
Business name of the company
- Company may have only one business name
- The company name must contain the appendage “osaühing” or the abbreviation “OÜ”
- The appendage or abbreviation must be visible at the beginning or end of the business name
- The business name of the branch of a foreign company shall consist of the business name of the company and the phrase “Eesti filiaal” – Estonian branch
- The management board may have one or several members
- A member must be a natural person
- A member need not be a shareholder but a member may be a shareholder too.
- Every member may represent Estonian company in all transactions unless the articles of association prescribe that some or all of the members shall represent Estonian company jointly
- A transaction made between an Estonian company and a member of the management board is not valid
- if the supervisory board or shareholders do not agree to the transaction ( exception is in the event of
- every day economic activities undertaken by Estonian company according to the market price of a service)
- At least 2500 € as share capital of OU company. ( in the event of providing a cryptocurrency-related services – the share capital shall be at least 12,000 €)
- A contribution may be monetary or non-monetary
- The minimum nominal value of a share is 0,01€
- The share capital may be paid to your bank account located in Estonia or outside Estonia (only within the European Economic Area)
- The share capital shall be registered in the Estonian Business Register and declare at the Estonian Tax and Customs Board
- You can use share capital to pay for business expenses and costs of a company but is not permitted to pay dividends from share capital to shareholders
- You have a right to deferring of share capital payment for up to 10 years if you meet these 2 conditions: ****All founders are private members AND ****The share capital is less than or equal to 25,000€
Start a company in Estonia as a ready made business!
A ready made company, also known as a shelf company or an aged company, is a business entity that has been registered but has remained dormant, typically without engaging in any significant business activities. These companies are pre-registered by a formation agent or service provider and are often offered for sale to individuals or businesses who wish to have a pre-existing company rather than going through the process of incorporating a new one.
Typical ready made company for sale
A typical ready-made company for sale, like this Estonian company priced at €900, offers several advantages to entrepreneurs and businesses. These companies are pre-registered, in this case, dating back to 2019, ensuring they are in compliance with local regulations, which can save valuable time and effort. The purchase price often includes the state fee, such as the 260EUR mentioned here, making it a cost-effective option. However, it’s important to note that notarial fees and certified translations are typically not included in the purchase. One significant benefit is that these ready-made companies usually come with no civil or tax liabilities, providing buyers with peace of mind and a clean slate to commence their business endeavors.
Banking solutions 🏦
How to open a bank account in Estonia acting as an Estonian company? Follow these steps to
start banking in Estonia:
Register a company in Estonia with the assistance of Eesti Consulting
Purchase a set of corporate documents regarding your company (Certificate of tax residency, Apostille, True copies of corporate documents, Article of Association translated from Estonian to English)
Reach Eesti Consulting and tell us about your business needs.
We advise you with a business bank account in or outside Estonia 🌍
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