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.

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