The article focuses on the basic rules to be followed to successfully start a business or to expand a market in Estonia. Namely, the types of business and the amount of minimum share capital in Latvia and Estonia have been compared, as well as the process of audit and the main steps for establishing a company in Estonia have been described and the necessary time and costs to be taken into account have been indicated.
The most widespread forms of business in Estonia are public limited liability companies (AS) with the minimum share capital of EUR 25.000, and private limited liability companies (OÜ) with the minimum share capital of EUR 2.500. Especially convenient is the possibility provided in Estonia to establish a company electronically, and that may be carried out also by a person from Latvia, if it has previously become an e-resident of Estonia. The electronic registration not only speeds up the process of establishing a company, but also saves the expenditures on notary fees.
iFinanses is an online magazine about taxes, accountancy and law providing topical information of changes in regulations, as well as practical explanations on their application on a daily basis.
To read the article please click here (you should be subscribed to iFinanses to read it).