Value Added Tax — VAT, levied on goods and services sold in business activity, imports of goods from non-EU countries, and purchases of goods from countries of the EU. The final consumer pays Value-added tax. Companies are obliged to register a VAT number when sales in Estonia exceed 40,000 EUR…

The main purpose of the e-Residency program is to make life and business easier for freelancers, business owners, and international partners, as well as any other non-residents who are related to Estonia. E-Residency in Estonia makes it possible to start a business, expand your business, make investments or study in…

Estonia is a small country in Northern Europe that has built a digital society over a couple of decades. So far, the country with a population of less than 2 million is leading in the IT sector and is referred to as a 99% digitalized European country. Hence, unlimited tech…

Virtual currency is a value represented in digital form that can be digitized, stored, sold, and accepted as a means of payment by individuals or entities. The worldwide economy has been taken over by cryptocurrency that is rapidly gaining more popularity. Despite the debates around the cryptocurrency market’s fragility, people…

Bookkeeping is an integral part of doing business on behalf of an Estonian company, which is to keep records and obtain an overview of the company’s economic performance and financial state. Accounting is an important part of the day-to-day activities of all persons obliged to keep accounting. Its purpose is…

An investment fund (AIF) is a specially constituted entity whose assets can be invested in accordance with a predetermined investment policy. The purpose of an investment fund is to generate profits from the investment of its assets. AIF is the most convenient structure for collective investment. Investors’ assets are attracted…

Insurance companies compensate losses and pay out the compensation in the case of an insured event. Such companies take the risks of the insured party following the insurance agreement. A business must obtain a license to operate as an insurance company. …

Credit institutions (banks) take deposits of money and other funds from the public and issue loans on their accounts or operate them differently. Only companies that accept deposits from the public can be referred to as ‘banks’. Such credit institutions are obliged to obtain an activity license from the Estonian…

It is essential to obtain a forex license when performing a business activity in Estonia. Licenses are issued by the Estonian Financial Supervision Authority (EFSA). The company’s activities may include the following: Establishing a joint-stock company Opening a representative office Opening a branch Joint-stock company To get a forex license, a joint-stock…