Articles
Estonian tax rates 2024-2025
On Wednesday 12 April, the Estonian parliament voted in favour of the new coalition government. One of the concerning items in the coalition agreement is changing Estonian tax rates to increase state revenue and thereby reduce government deficit spending. It is good to know though that Estonia currently is at the low end of tax-to-GDP ratio in the EU and has the lowest debt-to-GDP ratio. This has made Estonia a great place to build your global business.
Here is what we can read from the coalition agreement published on 8 April. It is important to note that none of it has been adopted by the Estonian parliament and a lot can change in the political process.
How Unicount accounting service works
Unicount is the simplest way to start an Estonian company. After registering a company in five minutes or less you will probably need either an accounting service or at least annual accounts preparation at the end of each financial year. Luckily, since January 2023 Unicount has offered these services to our virtual office clients through the Client Dashboard. Unicount accounting services are designed to match the needs of e-resident founders, provided online in multiple languages and with clear manuals for the most frequently asked questions. In this article, we explain how accounting service works. Read more
How to properly close an Estonian company
On 1 February 2023, a new Estonian Commercial Code came into force along with the Commercial Register Act. These laws regulate how Estonian limited companies (OÜ) can be dissolved and deleted.
The reforms introduced new flexibility, especially for e-resident founders who no longer need to appoint a local liquidator. Dormant companies that never began operations can now be deleted from the Business Register without going through the full liquidation process.
However, while this may sound simple on the surface, we strongly advise against attempting this process on your own.
Estonian company share capital after 1 February 2023
On 1 February 2023, a new Estonian Commercial Code came into force. This law regulates the share capital requirements of Estonian limited companies.
The minimum required share capital of 2500 euros was deleted and the clause that allowed you to postpone your share capital deposit when registering a company was also removed. In this article, I will explain the details and provide some suggestions to the founders who had an Estonian company registered before 1 February.
Generally, the changes add a lot of flexibility for the e-resident founders even though one controversial aspect is detected by e-Residency experts. Not worrying about depositing and registering share capital of 2500 euros makes it much easier to start a limited company for residents and e-residents alike.
You can now have a foreign legal address for an Estonian company
On 1 February 2023, there will be regulatory changes to the registered legal address of Estonian companies and the requirement to have a contact person.
The Commercial Register Act, which enters into force on 1 February 2023, changes the regulation of the registered office address of a legal person and specifies when it is necessary to designate a contact person for the company.Read more
Estonian Business Register data is now free
Starting from 1 October 2022, Estonian e-Business Register data is available to everyone free of charge. Previously fees had to be paid to view data that was not part of the company registry card. This included for example data on company shareholders, articles of association, beneficial owners, and annual reports. The fees were 1 or 2 euros per item, so having a complete picture of any Estonian company could have cost you tens of euros.
There is also now an option for downloading bulk data files and making free automatic queries via XML API. Visit the Estonian Business Register Open Data page for more information. This potentially enables businesses to build new automatic client management processes when working with Estonian companies.
How Unicount virtual office rental service works
Unicount is the simplest way to register an Estonian company. You can start a company in five minutes or less with a virtual office address in Estonia. Unicount can only offer that fast formation service thanks to our virtual office rental and contact person service integrated into the formation process.
Unicount virtual office service is designed to match the needs of e-resident founders setting up an Estonian company online. Still, the service is also used by citizens and residents of Estonia who prefer a professional business address for their companies. In this article, we explain how virtual office service works.
Read more
Estonian income tax deductible business expenses
While working with Estonian company founders, the same business expenses-related questions come up after their Estonian company is registered. We put together this article with the most typical Estonian income tax deductible expenses you should know as a business owner and company board member.
Those e-resident founders who are not hiring a professional accountant might miss out on the benefits and opportunities provided to them in the Estonian tax laws because they simply do not have sufficient knowledge.
Read more
Why you should submit your annual accounts in time
Every Estonian company has to submit annual accounts (annual report) to the Estonian Business Register 6 months after the end of the financial year. The annual accounts for small companies include your company’s balance sheet, Profit & Loss statement and management report about the performed activities with some mandatory notes such as labour expenses and related parties transactions. The report is more straightforward for micro and small enterprises and has less mandatory information to disclose. Even if your company hasn’t started trading yet, submitting the annual accounts is the one thing you need to do to ensure your company and its board are compliant with Estonian laws and not fined.
Read more
