Start with a good business idea. Think about what do you want to do? You should choose your form of business and think about what your company will be called. The most common form of business in Estonia is a private limited company (OÜ). The advantages of an LLC are quick and easy registration and a relatively low share capital requirement of €2,500. A private limited company can also be set up without a share capital contribution, provided that the company’s share capital does not exceed €25 000.
Setting up a company can be done conveniently through the e-business registration portal, provided that you are able to digitally sign documents. If you can’t digitally sign, everything can be done through a notary. No matter which form of business you choose, it takes up to 5 working days to incorporate. The state fee for registering a private limited company, public limited company and profit-making partnership is €200. Registering a sole proprietorship, partnership or limited partnership costs €20. Please also note that if your company’s taxable turnover exceeds €40 000 per calendar year, you must register your company as a VAT payer with the Tax and Customs Board. The registration application must be submitted within three working days from the moment the EUR 40 000 turnover threshold is exceeded. If the turnover is lower, registration is not compulsory. If you have any further questions, we are happy to help!