Example of Company Registration in Estonia
Company Registration in Estonia
There are several steps that a company has to go through in order to establish their operations in Estonia. Company set up in Estonia requires being able to navigate several steps, and Finbalt Consulting OÜ is here to help walk you through each of them so that you can have a successful business set up in Estonia in no time. These steps include:
- Establishing a Solid Business Idea
Finbalt Consulting OÜ is here to help you come up with or form a clearer picture of your business operations. We help you research the ideal market for your products and services, and identify your target audience. From there, we delve into areas of business development, including:
– discussing organizational and legal issues
– selecting personnel and equipment
– Identifying suitable business partners
– building customer base
- Selecting an Appropriate Business Model
Your business model is important to the company establishment process when you are trying to set up your company in Estonia. Not every business model is ideal for every company, and so Finbalt Consulting will help you navigate the options available in Estonia (which include joint stock company, sole entrepreneur, or private limited company) in light of your business/company purpose, goals and objectives. (link to this table)
|Sole entrepreneur||Private Limited Company||Public Limited Company|
|Size of business|
|Individual Entrepreneur,Family business||Small and Medium business||Large business|
|Not required||2 500 EUR||25 000 EUR|
|Non||The nominal value of a share1,0 EUR||The nominal value of a share0,1 EUR|
|Responsibility of founder|
|Personal property or||In the amount of share capital||In the amount of equity|
|Min 1 person||Min 1 person|
|–||–||Min 3 person|
|On a cash basis||On the principle of occurrence of the transaction||On the principle of occurrence of the transaction|
|Each month 33% of the minimum salary||Social tax is payable if a salary or other payments are allocated.||Social tax is payable if a salary or other payments are allocated.|
|When turnover reaching 16 000 EUR per year||When turnover reaching 16 000 EUR per year||When turnover reaching 16 000 EUR per year|
|On revenue||On the allocation of profit||On paid dividends|
All three business model options naturally have different requirements and responsibilities, and so it is important to get this clear. At Finbalt, we are happy to guide you through the options and help you select the best fit for your operations.
- Selecting the Company’s Legal Name
Selecting your company’s name is important. A good name will reflect your company’s purpose and form. In Estonia there are guidelines governing the kinds of names you can select. For example, the name can only use characters from the Latin alphabet and should reflect the kind of enterprise you are operating, the latter of which is represented by an AS or OÜ at the end of the selected business name. There are other legal ramifications that can determine the kind of name that is acceptable or not acceptable for company establishment in Estonia. Finbalt Consulting OÜ is familiar with these directives and will guide you through the process of seamlessly setting up your company name.
- Document Registration
After selecting your business model and name, the next step is to get your documents registered in the commercial register. Here is tech savvy Estonia, registration can take place through the Internet thanks to our Estonia’s E-registration facilities. Here at Finbalt Consulting OÜ, we can understand how unnerving navigating the Estonian business landscape can be for anyone not familiar with it. As such, we are here to help you with the document registration process and the e-business landscape.
- Acquiring Requisite Licenses
You may need to get the requisite licenses to successfully operate your business in Estonia. The EMTAK business classificator will determine which class of activity your business falls into and the license(s) required for the same. The list of activities requiring licenses can be found EMTAK.
Additionally, licensed activities required registration at the local and city government departments. More information on this can be found MKM.
Finbalt Consulting OÜ will be happy to help you with both!
- Registering Trademarks
Trademarks are important for any business or company. Your trademark is the symbol by which your company or business becomes immediately identifiable. Trademark registration is also an important part of the company set up process in Estonia. Finbalt Consulting OÜ helps you to register your trademark, which is recognizable as such in all countries across the European Union. Trademark registration for company set up in Estonia requires the preparation of documents which are then submitted to the Office for Harmonization in the Internal Market OHIM to be falsified for uniqueness and then later approved. Here at Finbalt Consulting OÜ, we help you with the following required documents:
– Identification of applicant (company/business)
– Brand logo and slogan
– The list of good and services being offered by the company/business
– Information on applicant priority if convention priority is determined
- Organizing Employees and Building Accounting
Many businesses need employees to function at their optimum level. You may need accountants, bookkeepers, administrative assistants and more. Finbalt Consulting OÜ will help you to find the right employees for your business and to help you negotiate the necessary employment contracts — which can be either fixed-term or indefinite contracts — so that your new employees can begin working for you right away. We will also help you to register your employee hire with the Tax and Customs Board Department, as well as inform the Labour Inspectorate that you have done so. From here, you will be able to provide the best working conditions for your new employees and your bookkeeper will be able to deduct the necessary taxes and make requisite payments to Estonia’s governing bodies. We have more details about taxes, taxation and business employees at this link.
- You Did It!
That’s it! You have now successfully completed the company registration in Estonia process! Now that you have your company set up in Estonia, you can start operating your business in fine style! Finbalt Consulting OÜ will be happy to guide you along as you begin to do so.
Finbalt Consulting OÜ is here to help your from Start To Finish