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Estonia

Estonia Flag

Country: Estonia
Region: Europe
Currency: Euro (EUR) (€)
Languages: Estonian
Time Zone: UTC +2

Phone Code: +372

Communications: Good

Formation Cost: 1700 - 2300 USD$
Formation Time: 18 - 24 days
Maintenance cost: 300 - 700 USD$

Executive Summary: Estonia is located in Eastern Europe and borders the Baltic Sea and the Gulf of Finland, between Latvia to the south and Russia to the east. It has a population of just under 1.3 million comprising mainly of ethnic Estonians (69%) and Russians (25%). The languages spoken reflect this balance, with 67.3% of the population speaking Estonian and 29% Russian. Estonia gained independence from the former Soviet Union in 1991 and joined the EU in 2004. Estonia adopted the Euro in 2011. Successive governments have implemented pro-market reforms, and the economy grew strongly in the years prior to the financial crisis, with growth averaging 8% from 2003 to 2007. However, there was a sharp contraction in 2009 of 14.3% as a real estate bubble burst and investment slumped. The Government has however stuck to its pro-business economic agenda and growth returned in 2011. Services are the largest contributor to GDP, followed by manufacturing. There are strong electronics and telecommunications sectors and the economy benefits from close trade links with Finland, Sweden, Russia, and Germany. Estonia’s EU membership means there is limited scope for the Government offer tax concessions, but the corporate tax regime is fairly benign (flat tax of 21%) and there is no tax on undistributed profits to encourage reinvestment. There are also three customs Free Zones at Muuga Harbour (part of the Port of Tallinn), Sillamäe Port and Valga.

Suitable for: Shipping, Trading Goods, E-commerce, E-gaming
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

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Holding Companies:

 

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Vehicle Types: Limited liability companies, branches, sole proprietorships, general partnerships and limited partnerships

Capital primary business districts: Tallinn

Good Relationships: Austria, Belgium, Bulgaria, China, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, United Kingdom

Bad Relationships: Burma, Egypt, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 21%, PIT 21%, VAT 20%

Treaty Jurisdictions: Albania, Armenia, Austria, Azerbaijan, Bahrain, Belarus, Belgium, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, India, Ireland, Isle of Man, Israel, Italy, Jersey, Kazakhstan, Korea, Republic of, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Mexico, Moldova, Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Singapore, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Thailand, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan

TIEA Jurisdictions: None

Information Links:

 

 

 

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