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
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.
Unicount is the simplest way to register an Estonian company. You can register a company in a few minutes 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 that is integrated into the process.
Unicount virtual office service is designed to match the needs of e-resident founders setting up an Estonian company online, but 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
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.
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 report includes your company’s balance sheet, Profit & Loss statement and management report about the performed activities. The report is simpler for micro and small enterprises with less mandatory information to disclose. Even if your company hasn’t started trading yet, submitting the annual report is the one thing you need to do to ensure your company and its board are compliant with Estonian laws and not fined.
In April 2022 Estonian e-Residency programme and selected service providers launched a reimbursement campaign to financially support Ukrainian entrepreneurs, help them deal with the consequences of war, and promote the development of the Ukrainian and Estonian economies. Unicount now reimburses company registration state fee to eligible Ukrainian e-resident founders and e-Residency programme is reimbursing e-resident card fees to Ukrainian entrepreneurs registering a company in Estonia through Unicount.
On 13 April Estonian parliament adopted a brand-new Commerical Register Act, which abolishes the minimum share capital requirement for Estonian private limited companies (OÜ). Most Estonians have lived their entire adult lives knowing that a share capital of 2500 euros is needed for a limited company. Since the first Estonian Commercial Code of 1995, the share capital requirement has been 40 000 Estonian crowns which was converted to 2556 euros when Estonia adopted the euro in 2011. Later it was rounded to 2500 euros.
Unicount has a landing page saying “registering a company should be as easy as registering a domain”. When I first read this, I remember getting really confused. Neither registering a company nor a domain sounded simple to me at that time. But it has been a few months ever since I register a company in Estonia. Now, I am here to explain why and how registering a company in Estonia is easy as it sounds.
Starting from February 2022 Unicount supports French and Turkish language. Unicount is the first e-Residency service provider enabling Business Register API powered online company formation in multiple languages and is continuing to add major languages of the world. E-residents and residents of Estonia can now register a company and manage their virtual office subscriptions in English, German, French, Turkish, Spanish, Russian and Estonian.