ANIMAL spirits have long been soggy in the European Union, but they are thriving in one of its smallest countries. World Bank figures show that registrations of new limited companies (the commonest kind of start-up and a good indicator of entrepreneurial vim) were down by 12.1% in the EU in 2009, the latest year for…
Starting from 01.01.2012 there have been some changes in the Commercial Code. The most significant change entered into force from 01.01.2012 is a requirement, that the person has to submit to the registrar specific data concerning one’s address and the person who is not a subject of the Estonian population register has to submit his/her…
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…
Centre of Registers and Information Systems: Estonian e-annual reporting voted best e-government solution of the world The e-annual reporting environment, created by the Estonian Centre of Registers and Information Systems for entrepreneurs to enable filing annual reports electronically, was voted the best solution of e-government category from among more than 460 projects at the global…
There will be changes to the Value Added Tax Act on 1st of January 2011. Most significant changes are: 1. Report on intra-Community supply of goods or service has to be presented monthly for the deadline of 20th date of each month. Previously it had to be done quarterly. 2. VAT on purchase of a…
Introduction of euro in Estonia will also slightly change the allowed limits of non-taxable costs. 21st of October 2010 Starting from 1st of January 2011 Estonian companies have following limitations for business related costs. Limits in euro for non-taxable business related costs REPRESENTATIONAL EXPENSES: company can spend up to 32 EUR per month for restaurant…
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…
The ECOFIN Council took the final decisions on the euro adoption in Estonia and confirmed that Estonia is ready and will adopt the euro on 1st of January 2011. 13th of July 2010 Estonia set to switch to euro on 1st of January 2011 The ECOFIN Council took the final decisions on the euro adoption…
Starting from January 2010 is 1Office proud to be member of Estonian-Swedish Chamber of Commerce. Mission of Estonian Swedish Chamber of Commerce (ESCC) is to help Estonian entrepreneurs entering Swedish market by sharing information and promoting contacts between members. Among members of Estonian Swedish Chamber of Commerce are Swedbank, TallinkSilja Sverige AB, Nordea and Autoliv.…
Based on Commission’s assessment, and on the European Central Bank’s own Convergence report, the Commission proposes that Estonia adopts the euro in 2011. Assessment of Estonia Inflation The average inflation rate in Estonia during the 12 months to March 2010 was -0.7%, well below the reference value of 1.0% for the same month, and likely…