Documents Needed to Open a Company in Estonia

Opening a company in Estonia requires the submission of specific documents to comply with legal and regulatory requirements. This article outlines the essential documents needed to start a company in Estonia, including those required for company registration, identification, and compliance purposes.

Company Registration Documents

• Articles of Association: This document outlines the company’s name, purpose, share structure, management structure, and other essential provisions.
• Memorandum of Association: The Memorandum of Association includes details such as the company’s registered address, shareholders’ names, and contributions.
• Application for Registration: This form includes information about the company’s founders, shareholders, board members, and authorized representatives.
• Decision on Appointment of Board Members: A resolution appointing the initial board members of the company must be prepared and submitted.

Identification and Personal Documents

• Founders’ Passports or IDs: Copies of the passports or identification documents of all founders and board members must be provided.
• Shareholders’ Agreement: If applicable, a shareholders’ agreement outlining the rights, responsibilities, and ownership distribution among shareholders may be required.
• Power of Attorney: A power of attorney, if necessary, authorizing a representative to act on behalf of the company during the registration process.

Legal Address and Contact Person

• Registered Address: A registered address within Estonia must be provided. This can be the physical address of the company’s office or the address of an authorized service provider.
• Contact Person: For companies without a physical presence in Estonia, the appointment of a contact person who is a resident of Estonia is required. The contact person will act as the official point of contact with authorities.

Bank Account Details

• Bank Account Application: Information about the intended bank account for the company, including the bank’s name and account details, must be provided. It is advisable to consult with Estonian banks for their specific requirements.

Additional Compliance Documents

• Business Activity License: Some business activities may require a specific license or permit. If applicable, the relevant license or permit should be obtained and submitted.
• VAT Registration: If the company’s annual turnover is expected to exceed the VAT threshold, it is necessary to apply for Value Added Tax (VAT) registration.

Ongoing Compliance Documents

• Company Register Extract: If the company has been registered for less than six months, a company register extract from the country of origin may be required.
• Shareholder Declaration: In some cases, a shareholder declaration confirming the source of funds used for share capital contributions may be requested.
• Annual Reports and Financial Statements: Companies are required to prepare and submit annual reports and financial statements, including the balance sheet and income statement.

Conclusion

Opening a company in Estonia requires the submission of specific documents to meet legal and regulatory requirements. These include company registration documents, identification and personal documents of founders and board members, legal address details, bank account information, and additional compliance documents specific to certain business activities. Ongoing compliance documents, such as annual reports and financial statements, must also be prepared and submitted in accordance with Estonian regulations. Engaging the services of professional advisors, such as company formation agents or legal experts, can ensure a smooth and compliant company registration process by guiding businesses through the required documentation and assisting with the necessary compliance procedures.