The Entrepreneur’s ABC PDF Prindi

Founding a company
The establishment of a commercial undertaking is regulated by the Commercial Code of the Republic of Estonia. The Code determines all forms of entrepreneurship, allowed in the Republic of Estonia as well as their rights and scope of operation but also the liabilities and restrictions to them.
Mainly two forms of entrepreneurship exist:

  • sole proprietorship
  • trading company

    Sole proprietorship is the simplest way for legally correct entrepreneurship, still it carries with the full liability for the economic activity. As for the trading companies, the most popular one is a Private limited company, the advantage of which is a relatively low minimum capital (40,000 EEK) and a simple managing structure. A Public limited company is more suitable for bigger undertakings. The stock capital must be at least 400,000 EEK and the managing structure must consist of a Board and a Management Council. There are no restrictions against foreigners founding a company, however at least ½ of the Board members of a trading company must be permanent residents of Estonia. A residential permit and working permit are required also from sole proprietors. The respective permits can be applied for in the Citizenship and Migration Board.

    Steps to be taken to become an undertaker:
  • checking the business name in the Business Register;
  • developing the Statutes and convening the foundation meeting;
  • notarised certification of the required foundation documents at the presence of all founding members;
  • forwarding the required documentation to the Business Register where the documen-tation is endorsed by a judicial decision.

    The companies of Saaremaa County are registered in Pärnu Business Register.

    The process of founding a new company takes 2 to 4 weeks and operations can be started after receiving the B-card copy from the Business Register and the activity permit from the local authority.

    Entrepreneurship related procedures in Kuressaare
    An activity permit is issued by the local authority which gives the company the right to operate on the territory of the local authority. In order to obtain the permit, the following documents are required:
  • Application Form
  • The documents proving the legal identity of the person
  • The documents proving the ownership of or the right to exploit the space of operation
  • Endorsements on the suitability of the space of operation for the type of activity

    Activity permits and licenses
    The state level activity licence is required for the following fields of activity:
  • mining
  • sale of weapons and pyrotechnical items
  • medical services
  • import, export, production and bulk sale of alcohol and tobacco products
  • creating a public communication network
  • providing security services
    and a number of other fields of activity.

    The local authority issues
  • the permit for the retail sale of alcohol

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