EstoniaBest Business Opportunities in Estonia and Types of Business in 2024

December 6, 2023by Tetra Consultants0
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  • By offering a strategically strong and vibrant location Estonia makes up to an excellent destination for companies looking to access European markets of a large 100 million people. With booming industries and globalization there are ample amount of business opportunities in Estonia attracting foreign investors and entrepreneurs.  
  • The country has been ranked highly for its ease of doing business with few bureaucratic hurdles to build a company which can be easily done with the help of Tetra Consultants. We can also register company in Estonia for our clients on their behalf.   
  • With one of the most well-developed digital infrastructures, Estonia can allow for easy and efficient business operations with the help of the electronic signing of contracts and submission of annual reports through online portals.  
  • If you wish to operate a business in Estonia you can enjoy various benefits including strategic location, ability to reach the European market, access to the European Union, and easy expansion of business.  
  • With the help of Tetra Consultants, you can enjoy the process of registering your company seamlessly through our offshore company incorporation service. Moreover, our experts will also help you with various other business services to facilitate you with extra time and energy to be invested in other aspects of business.  

Best business opportunities in Estonia 

E-commerce website or store 

  • With the burgeoning middle-class consumer affluence in Estonia, the e-commerce landscape has increased, presenting substantial business opportunities in Estonia. These online platforms are invariably beholden to multifaceted compliances contingent upon the nature of the enterprise. 

Information technology 

  • Given the robust expansion witnessed in Estonia’s software sector throughout 2023, there arises a lucrative business prospect for discerning foreign investors possessing specialized acumen in this domain. Furthermore, they are poised to maintain a strategic vantage point to seize upon this burgeoning business opportunities in Estonia in the foreseeable future. 

Logistic and supply chain management 

  • With the burgeoning emergence of e-commerce platforms in Estonia, the demand for adept professionals in logistics and supply chain management is on the rise. This business model operates on a fulfilment basis, wherein it procures and dispatches inventory from a third party to the customer on their behalf. 
  • If you start a logistics business in Estonia, you might require registering the tradename under which you have started your operations. Our experts at Tetra Consultants do offer various business services including international trademark registration which is required by companies. 

Franchise business 

  • Estonia stands out as an auspicious investment destination across diverse sectors. The nation’s flourishing economy has created many business opportunities in Estonia which ranges of diverse industries including, encompassing commercial aviation, food and beverage franchises, cutting-edge communication technology, specialized equipment, medical devices, and various other fields, all of which offer enticing franchise prospects for enterprises and visionary entrepreneurs. 
  • You might get subjected to have few legal documents before starting your franchise business in Estonia which can be fulfilled by our experts. Tetra Consultants can aid you with drafting of different legal documents as per the requirement of the client.  

Types of business in Estonia 

Sole proprietor (FIE) 

  • These types of business in Estonia are open for both resident and non-residents of Estonia. Such ventures do not afford any safeguard against debts and liabilities to their owner, thereby constituting a direct extension of the individual’s personal liability. 

Partnership  

  • Partnerships in Estonia entail jointly owned enterprises, divisible into general and limited partnerships. Much akin to a sole proprietorship, they do not furnish immunity from legal liabilities. Within a general partnership, all partners assume full liability. In contrast, limited partnerships assign liability solely to the general partner. This offsets the marginal advantage of no obligatory minimum capital and streamlined incorporation, particularly considering the growing ease of company establishment. 
  • These types of business in Estonia also necessitate the establishment of a bank account for sound financial management. Tetra Consultants extends its expertise in facilitating corporate bank account opening services for your enterprise. 

Private limited company (OÜ) 

  • It is one of the most common types of business in Estonia and is also one of the most popular forms too. In Estonia the private limited company (OÜ) is majorly seen as equivalent to the limited liability companies. It has limited liability, and shareholders are not personally liable for the company’s debts. The statutory requirement for these businesses is as follows: 
  • A minimum of 1 shareholder with no residency requirement 
  • A minimum of 1 member in the management board (acts like a director)  
  • At least 50% of the members of the management board must be residents of the European Union, Switzerland, Norway, Iceland, or Liechtenstein. 
  • A minimum share capital requirement is €2,500. 
  • If none of the shareholders are Estonian residents, the company must appoint a virtual office in Estonia to act as a representative locally and provide a registered address. 
  • If you are worrying about the statutory requirement, you can relax because Tetra consultants can provide you with services regarding nominee director and shareholders along with the registered address and agent services which will contribute to making your business lawfully operational.  

Public limited company (AS)  

  • These types of business in Estonia can issue their shares to the public. It has a multi-level management structure and is governed by the shareholders’ general meeting. 
  • There is various statutory requirement for these businesses which are: 
  • At least one shareholder, who can be an individual or a corporate entity without any residency restrictions.  
  • A public limited company must have a management board and a supervisory board. 
  • A minimum of two member with a chairman to be elected by members.  
  • The supervisory board should have at least three members. 
  • if more than half of the members of the management board are non-residents of Estonia, the company must submit a contact person to the Commercial Register. 
  • A public limited company in Estonia has a minimum share capital requirement of €25,000. 
  • If the annual taxable turnover in Estonia is over €40,000 or €10,000 in other EU states, the company must register for a VAT (Value Added Tax) number. 
  • All public limited companies in Estonia must be registered via an authorized notary. 
  • Tetra Consultants are there to help you with the incorporation of businesses preferred by our clients. Our experts are there to register your company with the authorities on your behalf. Our experts have knowledge and experience of years making it easier for you to obtain registrations.   
  • Moreover, apart from registration Tetra Consultants can also help your company to obtain various offshore financial licenses in Estonia as, operating a business will require requirement of various financial licenses depending upon the business activity.  

Non-profit organization (MTÜ) 

  • It is a legal entity which does not focuses on generating income for its members or shareholders. Instead, its primary purpose is to serve the public interest, promote a specific cause, or provide services to the community. 
  • If you are willing to register non-profit association in Estonia, Tetra Consultants can register the business and can also formally submit the MTÜ and the associated memorandum on behalf of the founders of the business.  
  • There are various tax benefits these organizations are entitled to which can be clearly understood through our accounting and tax obligation services in which our experts will take care of all your accounting and tax requirements and will also submit the return under the stipulated time.  

Conclusion 

  • The ample amount of business opportunities in Estonia and wide variety of businesses has been able to attract many foreign investor and entrepreneur to try their luck in Estonia. Our experts at Tetra Consultants are there to help our clients with variety of business services which makes the process of operating a business in Estonia much easier and smoother. We have a comprehensive range of business services which can also help you to set your business in Estonia. So, what makes you wait? 
  • Contact us to find out more about business opportunities in Estonia and various types of business in Estonia, and our dedicated and experienced team will respond within the next 24 hours. Tetra Consultants not only offers support in navigating Estonia’s diverse regulatory landscape but also facilitates the seamless registration of your company while providing valuable and nuanced insights into any potential challenges you may encounter. 

Tetra Consultants

Tetra Consultants is the consulting firm that works as your advisor and trusted partner in your business expansion. We tell our clients what they need to know, instead of what they want to hear. Most importantly, we are known for being a one-stop solution for our valued clients. Contact us now at enquiry@tetraconsultants.com for a non-obligatory free consultation. Our team of experts will be in touch with you within the next 24 hours.

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