Articles
How to submit your Estonian company’s annual report (without an accountant)
Every Estonian company has to submit an annual report to the Estonian Business Register. This document is an overview of your company’s finances and activities in its previous financial year. All citizens, residents, and e-residents of Estonia that own companies are subject to the same rules, although the reports are simplified for micro and small enterprises.
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Top things to do after you register Estonian company
You can register a company in Estonia with Unicount in five minutes. Once you receive your company registration notification, here are the first steps you’ll probably want to take with your new company.
First of all download your registration certificate and shareholders data in English. These documents are often useful, especially when applying for banking, payment providers, or other services. Downloading them is free and takes just a minute or two.
For the registration certificate, go to the Estonian Business Register, search for your company then select “Registry card”. This takes you to the registry card view where you can download machine translated English version as a PDF.
Does e-Residency work? Here’s what the data shows
While it is easy to start an e-resident company online, some have heard about problems accessing banking, some are confused about tax implications, and others just wonder if maybe digital residency is all a bit overhyped.
Estonia’s e-Residency programme has generated heaps of positive headlines around the world and been the buzzword among entrepreneurs in coworking spaces on every continent. But does the Estonian digital citizenship actually work? That’s a question we see a lot online.
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How do I register a ‘beneficial owner’ of my Estonian company?
Estonia has one of the world’s most transparent business environments. This helps ensure Estonian companies can be trusted worldwide, even though they can be run entirely online from anywhere by Estonians and e-residents.
A key part of this transparency is ensuring it’s clear who controls each and every company. As an Estonian company director, you are legally obliged to declare the persons benefiting from your company’s activities, the so-called ‘beneficial owners’. This must be done by everyone after starting a company through Unicount, as well as updated within 30 days whenever there is a change to your company’s beneficial owners.
Free template: Add a new shareholder to an Estonian company online
There’s a very simple way to add a new shareholder for an Estonian company online – even if that’s a person who doesn’t yet have an Estonian digital ID or if it’s a foreign legal entity. To help you do this, we created a free template you can download and submit to the Estonian Business Register.
We recently explained in our previous article about how to add a new shareholder for an Estonian company online. Instead of transferring part of existing shares to a new co-owner, which is quite complex, you can simply issue new shares to them online instead.
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How to add a shareholder to a limited company in Estonia
Almost every aspect of establishing and managing an Estonian company can be done entirely online from anywhere. We say almost because things get a bit tricky when you want to add a shareholder to your private limited company. Adding a new director is already very easy if that person is an e-resident who can make a digital signature.
Until now, you’d have to transfer shares offline at a notary in Estonia. There are also two novel ways to transfer shares in an Estonian company, but these methods both have limitations too. Fortunately, there’s also a little-known trick that enables you to add a new shareholder online for your Estonian limited company without having to transfer any existing shares at all. The new shareholders don’t even need to have an Estonian digital ID.
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How to stop spam emails through the Estonian Business Register
You’ve just registered a new Estonian company but before you can even announce the launch of your business to the world, your company has already started receiving spam emails. This is a common complaint among e-residents and international residents of Estonia.
This happens because your company email is listed publicly along with other registry data of your company on the e-Business Register. However, there’s a nifty little solution here that is commonly used by Estonians.
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Here’s why e-residents are signing up for Smart-ID
Estonia’s digital ID cards are famous around the world, but most Estonians actually now use their mobile phones for regular digital signing instead. This is now also available to e-residents as an app called Smart-ID.
E-residents are signing up for Smart-ID because it’s faster, more convenient, and works even if your digital ID card is lost or expires.
Unicount is a virtual office service provider in Estonia to existing companies
Need a company address and contact person in Estonia for your registered company? Unicount is a virtual office service provider that lets e-residents and residents subscribe online.
We like to keep things simple here at Unicount, including by working remotely as much as possible. That’s also more important than ever all over the world now.
Yet all Estonian companies still need a registered office address in Estonia. And if you are living outside Estonia, like most e-residents, you’ll also need a licensed contact person for your company at that address. Together, this is usually called a virtual office.
