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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.
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How to close an Estonian company

On 1 February 2023, a new Estonian Commercial Code came into force along with an entirely new law called Commercial Register Act. These laws regulate how Estonian limited companies can be dissolved and deleted.

Generally, the changes add more flexibility for the e-resident founders who have decided to close their Estonian company. E-residents can now liquidate their company without a need to appoint a resident liquidator. Dormant companies that have not started activities can be closed without the cumbersome liquidation process simply by applying for deletion from the Business Register.

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2500 euros

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.

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legal address

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

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.

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virtual office rental service

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, 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.

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estonia income tax

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.
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Annual accounts

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 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.
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Commercial code

Share capital requirement to be removed 2023

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.
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