The cheapest way for the acquisition of an undertaking is to found one.

Types of undertakings: general partnership, limited partnership, private limited company, public limited company and commercial association.

In addition to undertakings also foundations and non-profit associations can be founded.

The most popular undertakings are private limited company and public limited company, as their shareholders do not bear personal property liability for the obligations of the undertakings.

The following data is required to found a private limited company:

Founder’s details

– for natural persons:
First and surname, personal identification code (if no code, the date of birth), place of residence, number of identity document (passport, ID card), extent of holding.

– for legal persons:
name of undertaking, registry code, location, details of representative (see: previous clause), extent of holding.

As a rule a foundation resolution made by a competent body (shareholders, council) must be brought to the office of the notary public. Whether the resolution has to be made and if yes then by whom, will depend on the individual undertaking.

business name of the undertaking to be founded

Must differ from the already used business names and trade marks.

details of members of the management board of the undertaking to be founded:

First and surname, personal identification code, place of residence, number of identity document (passport, ID card).

If there are more members in the management board than just one, the right of representation can be laid down (i.e. one member of the management board can represent the undertaking alone while all the others jointly).
At least half of the members of the management board must have their place of residence in the Republic of Estonia, European Economic Area or Switzerland.
Citizens not listed above must have a residence permit and work permit- we can help you to apply for these documents.

areas of activity of the undertaking to be founded

Some areas of activity require the application for an activity license. We can apply for the activity license for you.

amount of capital of the undertaking to be founded

Minimum share capital laid down by legislation to found a private limited company is eur 2 500.
Contributions may be pecuniary or nonpecuniary. Until making the registry entry the money on the start-up account is “frozen”.

With nonpecuniary contributions we need the details of objects (i.e. purpose, make, model, price) and details of the maker of the contribution. The valuation of a nonpecuniary contribution must be checked by an auditor.

means of communication

The register must be submitted the new number of a means of communication of the undertaking.

articles of association

We recommend using the articles of association corresponding to minimum legal requirements. When you have special wishes with regard to the articles of association or you wish to be consulted in the matter, please inform us about your wishes.

General information:

– usually the notary public will see you in a couple of days from the submission of information to us;
– an interpreter must be ordered to the office of the notary public for clients not speaking the Estonian language (will be the task of the consultant), the client must bear the expenses;
– as a rule, an undertaking is entered into the register within 5 days.

Do not hesitate to contact us when you have more questions. You are welcome to call on number 00 372 6691 970 or contact us by e-mail:
Your letters will be replied within 24 h.

Looking forward to hear from you.

Urmas Toome