Incorporation documents package
Good offer Estonia LITE
Estonia – is European low tax jurisdiction. Since 2004, the country is a member of the European Union, also is a part of the Eurozone, NATO. The country is a party of the Schengen Agreement. For non-residents, who do business outside Estonia there is a preferential tax regime on the territory of jurisdiction. The country`s population is about 1.3 million. Republic of Estonia is not the classic offshore zone, so there are requirements for submitting reports. Estonia is popular jurisdiction in terms of the registration of international business in the EU.
Benefits of onshore company registration in Estonia:
- No capital gains tax;
- Income tax rate – is 0%;
- Possibility to open a bank account for Estonian company in reliable European banks;
- One of the lowest tax rates in the EU;
- It is possible to buy a ready-made company in Estonia;
- Jurisdiction is not in the black list;
- Access to the European market;
- Possibility of remote company’s management;
- Low cost of maintenance of the company;
- Possibility to obtain a European VAT-number;
- Non-resident of Estonia can registers the company;
- Possibility of doing business in Russian;
- No exchange controls.
The types of companies that can be registered in Estonia:
- Private limited company - OÜ;
- Joint-stock company - AS.
Private limited company
Primarily OÜ is suitable for small and medium-sized businesses. The minimum size of the authorized capital of the private limited company is 2 500 euros. The founder of OÜ may be at least 1 private or legal person, there is no requirement for residency. The founders invest the authorized capital in the form of money (on the bank account), or property that is valued in terms of money and passed to OÜ. Private limited company is required to maintain accounting services and submit a financial report every year. Primary accounting documents must be kept for 7 years. OÜ bears responsibility for all properties. Information about the participants is available to third parties, as this information is entered in the register card of the company. But for complete confidentiality we recommend to use nominee service. The name of the beneficial owner of the company is not disclosed.
The minimum nominal value of a share – is 1 euro, and if it is higher, then it must be a multiple of 1 euro. Each member has one share. It is possible to buy additional shares, but the initial cost should proportionally increase. Shares can be in monetary or non-monetary form.
Shareholders have the right to:
- Make modifications in articles of association;
- Choose members of council and board members;
- Split the profits;
- Increase and decrease the size of the authorized capital of the company;
- Split the shares;
- Choose the auditor.
Annual report consists of:
-balance sheet, information about basic capital and company's owners,
-report on financial flows of the company, company’s profit and brief description of the company`s activities during the reporting period.
AS is more suitable for large business. Capital of joint-stock company is divided into shares. AS is necessary to establish within large number of shareholders. Minimum authorized capital of the company – is 25 000 euros. The founders of AS may be private and legal persons, residents and non-residents of Estonia. Joint-stock company is managed by the Board of Directors consisting of 3 members. Shareholders may be members of the council.
The minimum value of the share is 0.10 euros. AS shares is nominal. The share capital is paid in cash or non-cash contribution, which is evaluates by the auditor. AS is solely responsible for all property according to all obligations. The joint-stock company is obliged to appoint an auditor for the financial records control and submit annually reports.
Companies registered in Estonia, are audited if:
1. The number of employees is more than 30;
2. The amount of the balance exceeds 1 million. EUR;
3. Income or realization is more than 2 million euros.
There are following requirements for the company:
One should provide legal address in Estonia for company registration.
LTD IT-Offshore offers to buy "shelf" company in Estonia. There are following advantages of buying ready-made company:
- Stock capital is already paid by the founder;
- There are shelf companies without stock capital;
- One can buy a company remotely;
- Reissuance takes about 2-3 business days.
Taxation in Estonia:
20% - value added tax (VAT)
9% - reduced VAT rate;
0% - tax rate of turnover;
0% - retained earnings tax;
20% - under payment of dividends;
33% - social tax;
The package of documents that one will receive after company registration in Estonia:
1. Certificate of incorporation;
2. Notarized apostille translation of the original business registration certificate in English;
3. Articles of Association in Estonian;
4. Memorandum of Association in Estonian;
5. Notarized apostille translation of the original articles of Association and memorandum of Association in Estonian;
6. Registered address;
7. Appointment of Director;
8. Nominee service;
9. Common Seal and other documents.
An offshore company can open an unlimited number of bank accounts. Now the Estonian banks offer a full range of services and a high level of banking services. In addition, at the legislative level, insurance of bank investments is compulsory. This ensures that your investments are safe. Our company assists you in opening an account in one of the Estonian and European banks.
Estonia has signed more than 50 international treaties on avoidance of double taxation including: Belarus, Turkey, Georgia, Poland, Hungary, Canada, Cyprus, Czech Republic, Germany, Latvia, Norway, Ukraine, Kazakhstan, Singapore, Malta, Lithuania, Spain , Romania, Sweden, Italy, Switzerland, India, the UK, Portugal, Ireland, Albania, Azerbaijan, China, Denmark, Malta, Slovakia, UAE and other countries.
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