Tax and accounting regulations

Summary of Requirements for an OU, Limited Liability Company:

General Information
Type of Company Osauhing (OU), Limited Liability Company
Timescale to incorporate 3 weeks
Corporate Taxation 20% on distributed profits and dividends. However the tax system in Estonia does not require payment of Corporate Tax for undistributed profits – something which is unique to Estonia
Double Tax Treaty Access: Yes
Directors
Minimum No. Required 1, Corporate Directors are permitted
Local Director Required No
Publicly accessible information No
Location of Meetings Anywhere
Additional Information A private limited company must have a management board which represents and directs the company. This may include 1 member (the director) or several members. If more than half the members are not Estonian residents then an address in Estonia must be provided where documents can be sent (the Registered Office Address can be used).
Shareholders
Minimum No. Required 1, 100% foreign shareholders allowed
Publicly accessible information No
Location of Meetings Anywhere
Company Secretary
Required No
Local Secretary Required N/A
Registered Office Required N/A
Share Capital
Standard Currency Euro
Standard Authorised €2,500.00
Minimum Paid Up Capital Not required
Additional Information If share capital exceeds €25,500.00 an OU must have a supervisory board with 3 members
Accounting & Compliance
Requirements to prepare Accounts Yes
Requirement for Audit Audit required if share capital exceeds €25,500.00.Audit required if any of the following are exceeded: Turnover exceeds €2 million, Total assets exceed €1 million, Number of employees exceeds 30
Local Auditor Required Yes, if audit is required
Requirement to File Accounts Yes
Requirement to file Annual Return Yes
Additional Information
VAT 20%. Any business with a turnover in excess of €15,000.00 is obliged to register with the VAT Authorities
Bank Account Opening A number of international banks are located in Estonia and account opening is possible without presence.

Take the next step, we are here to help.

Register a Estonia company.
Open a Estonia bank account.

  Resources:

 

The Investigation of a Cyprus Company's Affairs: Application of the Law & Effectiveness

At the request of a Cyprus company’s Shareholder, where it is proven that a more comprehensive investigation is required regarding a company’s activities, the court can issue a declaration of investigation by an inspector appointed by the Cyprus Council of Ministers. The discretion of the court must be applied carefully; as such an order can heavily impact a company and depending on the outcome of the investigation, can be a severe measure that deviates from fundamental principles of Cyprus company law.

UK: The Current Problems with Money Laundering & the Violation of Anti-Money Laundering Regimes

UK: The Current Problems with Money Laundering & the Violation of Anti-Money Laundering Regimes

The fact that money can be transferred from one jurisdiction to another means, that money laundering as a concept involves the entire modern world. Money laundering is a process during which the origin and purpose of payments are hidden and typically has three stages.

Director’s Duties & Liability Insurance in Cyprus

Director’s Duties & Liability Insurance in Cyprus

This article will examine the role of a Director and his duties and liability insurance and D&O insurance liability accordingly with reference to the relevant case law.

 

Q&A: Singapore Small Company Concept for Audit Exemption

The following article will answer some commonly asked questions regarding Singapore small company auditing requirements and exemptions from ACRA.

Exemption from Audit: Singapore Small Company Criteria

Exemption from Audit: Singapore Small Company Criteria

Singapore Audit Requirements: running a company in most countries require auditing as a process to prove that everything is operating legitimately. Listed companies have a legal responsibility to go through audit in Singapore similarly.

EU: Cyprus Competitive Advantage at Risk with Tax Consolidation Reforms

EU: Cyprus Competitive Advantage at Risk with Tax Consolidation Reforms

Cyprus is likely to have repercussions as a result of Jean-Claude Juncker ’s favouring of a relaxation in EU regulation formation and monitoring schemes, reinforced by qualified majorities on matters including the additional synchronisation of blanket taxation rates across Europe.

Singapore Service Providers: How to Comply with the ACRA Reporting Requirements

Singapore Service Providers: How to Comply with the ACRA Reporting Requirements

As a result of the ACRA Amendment Act in 2014, Registered Filing Agents and Corporate Service Providers now have to conduct independent Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) reviews as part of their annual audit reviews.

Beginners Guide to Service Level Agreements: Important Information & Q&A

Beginners Guide to Service Level Agreements: Important Information & Q&A

SLAs are a critical component of any outsourcing and technology vendor contract. Beyond listing expectations of service type and quality, an SLA provides remedies when requirements aren't met.