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Frequently asked questions about our services
Can a foreigner open a company in Estonia?
Yes, it is possible, there are no restrictions and a citizen of almost any country can open a company in Estonia.
In Estonia, there is no requirement for residents to be included in the board or the owners.
Can one person be both the founder and the board member of an Estonian company?
Yes, one person can establish a company (OÜ) in Estonia. He can also be the only board member in it.
How many types of activities can be indicated for an Estonian company?
When registering a company in Estonia, one main type of activity must be indicated, but if necessary, several additional types of activities can be indicated. Activities can be changed or added once a year when submitting the annual report.
Is it obligatory to pay a salary to a board member of an Estonian company?
No, there is no such obligation established by law and it is not obligatory to pay a salary to a board member (except for the case when a board member has received a residence permit on the basis of a board member).
Is it possible to open a company in Estonia without visiting, but by power of attorney?
Yes, a company in Estonia can be opened with a notarized power of attorney in the client’s country of residence (we will provide all the necessary instructions upon your request)
However, it is important to note that if the notarized power of attorney is issued in countries with which Estonia does not have an agreement on mutual recognition of official documents, then in addition to notarization, an apostille will also be required.
Is it true that the income tax for Estonian companies is really 0%?
Yes, it is true. In Estonia, the income tax for companies is 0% until the profit is distributed.
Taxes are accrued only when the company decides to pay dividends or distribute profits among shareholders.
Do I need a VAT number and what is it?
A VAT number is a number that is assigned to a taxable legal entity and confirms that the company is a VAT payer. Estonian companies are required to obtain a VAT number if their turnover during the calendar year exceeds 40,000 euros. Also, companies providing electronic services within the EU (for example, programming and other IT services) are required to obtain a VAT number if their turnover exceeds 10,000 euros. Also, if desired, the founder of the company can immediately apply for a VAT number. Write to us, and we will definitely help you figure it out.
Is it necessary to contribute share capital to establish an Estonian company?
Yes, it is necessary to contribute authorized capital to establish an Estonian company. Its minimum amount is only 0.01 euro cents.
When can a company open a bank account in Estonia?
A bank account for a company in Estonia can be opened after the company is registered in the Commercial Register and receives a registration number. After that, you can contact the bank to open an account.