1. The ways of registration of Estonian companies
The registration of Estonian enterprises arises in three ways:
- By ID-card through the electronic system (Ettevõtjaportaal). The registration of estonain company through an electronic portal is only possible if all the founders, owners and board members of the company have estonian ID-cards and passwords PIN1 and PIN2.
- At public notary office. The personal presence of founders-owners and board members in a notary's office is required.
- By Proxy. Based on specially executed power of attorney our company may register an Estonian company in the name of the founder- owner. In this case founder's arrival into Estonia is not required.
2. Time of registration
In the case of an electronic registration the company may be registered within 1-2 working days.
In other cases, the registration period is on average 2-5 business days from the date of the submission and signing of all required documents in the notary's office.
3. The registration procedure
The most common form of legal entity in Estonia is a limited liability company (Osaühing -OÜ). Llimited liability company is suitable for most kinds of activities. The advantage of limited company is that the shareholders (founders-owners) are responsible for the obligations of the company only for the value of their shares.
The joint stock companies are mainly registered by large commercial, industrial and financial enterprises. The shareholders are liable for the company's obligations to the value of their shares.
Necessary procedures for the registration of OÜ or AS:
- Determination of form of legal entity and the name of the company;
- Selection and appointment of the founders, owners and board members of the company;
- Determining the amount of the authorized capital;
- Drawing up the Charter of the company;
- The definition of the legal address, phone, e-mail;
- The signing of the constituent documents in the notary's office;
- Opening a bank account of the company;
- Providing all the constituent documents to the Commercial Register of Estonia;
- Issue of B-card (registration certificate) of the company by the Commercial Register of Estonia.
- Signing the contract for the use of electronic services of Tax and Customs Board.
- Registration at the Activity Register of Estonia and obtaining a license for a special kind of activity (if necessary).
For the detailed legal advice on the registration of Estonian company please don't hesitate to contact us :
Tel. +372 58 372 432