Articles
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.
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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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How did I register a company in Estonia?
Unicount’s landing page states, “registering a company should be as easy as registering a domain.” When I first read this, I remember feeling really confused. Neither registering a company nor a domain seemed simple to me at that time. However, after registering a company in Estonia a few years ago, I can now explain why you can trust this statement.
Unicount now also works in French and Turkish
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.
How I became an Estonian e-resident?
Conducting business online is not easy for everyone, depending on the country they live in. Furthermore, establishing an online company is difficult for people living in countries that have lots of bureaucracy and red tape. I consider myself facing this dilemma. As a business school graduate translator from Turkey, conducting my own translation and marketing services business was a distant dream considering the number of hurdles I faced to save my business plans.
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Estonian company registration fee to increase in 2022
The state fee for starting a company and making any amendments to company details in the Estonian Business Register is going to rise from 1 January 2022, based on the new State Fees Act passed by the Estonian Parliament on 22 November 2021. This is contrary to our own recommendations to instead reduce the state fees for e-services, including the online formation of an Estonian limited company. The fees do remain relatively low by international standards but we just want to give a quick overview of the changes.
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OSS and IOSS in a nutshell for Estonian companies
Starting from 1 July 2021, cross-border e-commerce and services to consumers will be taxed in a new way in the European Union. In this article, we examine what the new regime will bring to Estonian companies working with Amazon FBA and independent e-shops selling to consumers in multiple EU countries.
10 useful things to know after you register an Estonian company
Starting an Estonian company online has never been easier. At Unicount, we’ve reduced it to a simple three-minute task. While working with Estonian company founders over the past two years, we’ve noticed the same questions come up a lot immediately after their Estonian company is registered.
So we put together this list of ten of the most useful things to know.
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Four additional places of issuing e-Residency digital IDs
Last year, the Ministry of the interior, the Police and Border Guard Board and BLS International Services Limited signed an agreement to increase the accessibility of the e-Residency programme in different parts of the world. As of today, digital e-Residency IDs will also be issued in Johannesburg, Singapore, São Paulo and Bangkok. In addition to issue points operated by BLS, e-residency digitaal ID cards are also issued at Estonian foreign missions. Digital IDs can currently be picked up at 50 issue points across the world and future plans include expansion to another fifteen destinations.
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