E-resident’s company board in Estonia?
The board of an e-resident’s company cannot be required to be located in Estonia. Ivar Veskioja analysis.
Payment of dividends from a company
The company can pay dividends to shareholders in the extent of the profits of the last financial year and the profits brought forward from previous years. 1Office recommends paying attention to the following points. Compliance with the requirements of the Commercial Code Before payment of dividends, the company’s compliance with the requirements described in the…
Swedish limited company equity capital
Check the equity capital of a Swedish limited company before the end of the fiscal year The Swedish Company Law provides that the management board has an obligation to produce an interim balance sheet immediately if there are grounds to believe that the equity capital of the Swedish limited company has fallen below a half…
Estonian employment register starts
An important change for all businesses operating in Estonia will take place this summer, namely a nationwide Estonian employment register with the Estonian Tax and Customs Board will start operating from July 1st 2014. The new register will contain data on all persons working in Estonia. The purpose of the register is to reduce the…
Single Euro Payments Area includes Estonia
Estonia started operating within the Single Euro Payments Area (SEPA) on February 1st, 2014. Reasons for its acceptance were gaining the advantage of an integrated market and simplification of payment solutions for private persons as well as companies. The main change accompanying joining SEPA is that from now on all the account numbers have to…
Latvia´s changeover to the Euro
On July 9th this year the ECOFIN Council approved the Latvian participation in the Economic and Monetary Union (EMU) from January 1st 2014. The Bank of Latvia fixed the exchange rate at 0.702804 already in 2005, one lat being equivalent to €1.42. As of January 1st 2014, financial institutions and stock exchanges will convert electronic…
Deadline for submitting annual report
The deadline for submitting annual report 2011 is 30th of June 2012 The annual report must be submitted to the Commercial Register within six (6) month after the end of company’s financial year. For the companies who use calendar year as financial year, the deadline is 30th of June 2012. We ask you to contact…
Last month to convert share capital
Estonian companies having their share capital nominated in Estonian kroon can convert share capital to € for free until the end of 2011. Starting from 1st of January 2012 no amendments to articles of association or share capital are accepted if nominated in Estonian kroon. Share capital conversion process via Commercial Register website is exempt…
Launching a business in Sweden as a foreigner
Launching a business in Sweden as a foreigner One of the well known Swedish lawyers with law offices in the Baltic and Scandinavia said once that Swedes think that other countries have a different way of doing things. The truth is that Swedes are different. Market with 9 million high income consumers is very attractive…
Calculating share capital in euro
1Office advices customers to convert Estonian company share capital to euro nomination within year 2010. 6th of September 2010 As Estonia is set to start using euro on 1st of January 2011, companies have to convert their previous kroon based share capital to euro. Conversion is not an automatic process compared to money on bank…