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What are the applicable deductions from personal income tax in Estonia?
Individuals can earn up to €7,848 per year tax-free.
Overview of Personal Income Tax in Estonia
Estonia employs a flat income tax rate of 22% on personal income. This means that all individuals pay the same tax percentage regardless of income level.
Division of an Estonian Company (OÜ)
The division of an Estonian company is one way to restructure its operations according to the wishes and needs of the shareholders. The division of a private limited company (OÜ) is a good option...
Estonian Company Contact Person
The task of the contact person is to receive official procedural documents and statements of intent addressed to the company. The delivery of documents and declarations of intent to the contact...
Accounting for Crypto Companies in Estonia
Crypto exchange companies in Estonia are required to have a cryptocurrency license and follow the same reporting rules and requirements as any other financial institution in Estonia. According to the European Court of Justice ruling, cryptocurrencies are exempt from VAT.
How to open a Bank Account for an Estonian Company
Generally, local banks open accounts for companies that operate at least partially in Estonia. It means the company sells or buys goods or services, has employees, and pays them salaries.
To open a bank account, KYC purposes require a somewhat time-consuming and bureaucratic process.
Estonian banks require at least one in-person visit for compliance reasons. Even if the bank is visited in person, opening a bank account is not guaranteed. This especially concerns companies with foreign shareholders and board members. At the same time, if all the conditions for opening an account by the bank are met and the bank opens the account, future banking operations will be very smooth, customer-friendly and fast.
What are the requirements for General Meeting Minutes when making Business Register amendments in Estonia?
Shareholders' decision in the form of General Meeting Minutes is necessary for almost all changes to the company's registry...
Restoration of a deleted Estonian Company (OÜ) in the Business Register
From February 1, 2023, it is possible to restore a deleted Private Limited Company (OÜ) to the Business Register in a simplified manner and continue business...
What are the requirements for document legalization and apostille when using foreign documents in Estonia?
Short overview of how to legalize / apostille documents for Estonia. An apostille is a certification that confirms the authenticity of a document for use in another country. It is designed to streamline the process of legalizing documents...
Requirements when signing documents by the local notary (outside Estonia)
The most important detail is that the notary must certify the identity of the signing person(s). This requirement must be stated in the notary text. If the notary...
How to change Estonian Company board membership
To change board membership in the Business Registry, a Shareholders' Decision must first be made and signed in the form of General Meeting Minutes.
Does the standard liquidation process also apply to the liquidation of a non-active Estonian Company (OÜ)?
Deletion of inactive Estonian company (OÜ) from the Bisiness Register is carried out in a simplified manner and does not require the completion...
How to change Estonian Company (OÜ) ownership?
Since 2020, changing Estonian company ownership has become significantly easier, with most cases no longer requiring a notarial deed.
Fully online share transfer is also available for nonresidents
No e-residency required
No notary required
No apostille required
No translations required
Estonian company (OÜ) liquidation through merger of assets
A private limited company (OÜ) with a single shareholder can be liquidated by merging the assets of the company with the assets of the company’s shareholder who...
Can a sole-owner Estonian Company (OÜ) be liquidated faster than the standard timeline?
A one-man Estonian company (OÜ with only one shareholder) can be liquidated faster (2-3 months) and easier than the usual long...
How can I liquidate my Estonian company if I am not an e-resident?
Almost everyone can sign Estonian company liquidation documents digitally with a global Trusted Service provider.
All you need is to have a valid passport (or ID card) and a smartphone. It takes just a few minutes to verify your identity online and have the required documents signed with a Qualified Electronic Signature (QES).
There is no longer any need to sign and certify documents with your local notary or to use apostilled documents. No need to translate documents into Estonian.
Recommendations for accounting software popular in Estonia
For an easy and accessible solution, we offer our customers the cloud-based accounting software SmartAccounts (in English) for managing our clients' accounts. It is best suited...
Accounting requirements in Estonia for new non-active companies
If a company is not actively trading, it is not required to have monthly accounting; only mandatory yearly reporting is needed. However, if a board member wants to comply with local rules, they may choose to do so.
Accounting principles and standards used in Estonia
The annual accounts are prepared in accordance with the Estonian Financial Reporting Standard, which consists of financial reporting requirements based on internationally accepted...
Steps and duration for liquidating an Estonian company (OÜ)
The liquidation of an Estonian company is a formal process to close the business, settle debts, and remove the company from the Estonian Commercial Register. The duration of...
Read and get more understanding about Estonian company related questions
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