Incorporation documents package
Apostilled set of documents
Good offer Estonia PRO
Republic of Estonia (Estonia) - is a state located in the northern part of the European continent on the Baltic Sea. The country is a member of the European Union, NATO, is part of Schengen area and Eurozone. A number of successful economic reforms that touched on the tax system have made the country attractive for foreign investment. Estonian taxation system has a number of features, such as the corporate income tax is charged not from the company`s profits (although it is considered as such), but from the distributed income, such as dividends. The corporate tax rate is 21% of the amount of dividends before tax payment. The standard rate of VAT is paid at the rate of 20%; reduced rate – is 9% (subject to book production, periodicals, and drug products). Zero VAT rate is applied in some cases.
Besides loyal tax system, advantages of Estonia as a region for international business are also linked with simplified system of legal regulation in the sphere of small and medium-sized business. Estonia is a country with low level of corruption and transparent system of relationships between business entities and government bodies.
There are following the most popular forms of companies:
- Private and public limited companies;
- Partnership (with full and limited liability);
- Branches of foreign companies;
- Private entrepreneurs.
It is necessary at least one shareholder – private or legal entity of any residence for company establishment. The Board of Directors (only private persons, at least 1 person) carries out management of the company. The minimum share capital is 2 500 euros. The company must have a registered office in the country, conduct current accounting and submit annual financial statements. Data about the company’s name and location, the amount of authorized capital, information about directors and shareholders are public. The banking system in Estonia is a reliable tool for the finances safety and the key of successful business.
There are following advantages of account opening in Estonia:
- Possibility of remote account control;
- Debit and credit cards issue, that are the most famous payment systems;
- Package of documents for account opening does not require certified translation and apostille;
- Account opening in the Bank of Estonia does not involve excessive monetary and time costs (for individuals - 1 week; for legal entity - about 2 weeks);
- Account in Estonia can be opened by authorized persons or in banks branches;
- Qualified Russian-speaking staff;
- In Estonia, banks are free to open accounts for non-residents.
Account opening in Estonia - means to receive guarantees of the safety of personal data and information about client`s funds.
In Estonia, one can open multi-currency accounts, both personal and corporate. Most services for corporate accounts are chargeable. Bank account in Estonia can be managing remotely, via Internet Banking system.
The process of account opening in the Bank of Estonia includes the preparatory stage, the immediate opening of the account. The initial phase includes providing the necessary documents, information about beneficiaries and the persons authorized to operate the account. To open a corporate bank account in Estonia, in addition to the standard package of documents on the company it may also requires a document from another bank on the status of the customer`s account. For enterprise with the history, one should provide a Certificate of good condition of the company.
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