Estonia, known for its transparent business environment, requires companies to declare their beneficial owners—individuals who ultimately benefit from the company’s activities.

This transparency ensures the global trustworthiness of Estonian businesses, even when managed entirely online by Estonians and e-residents. As a director of an Estonian company, it is a legal obligation to declare the individuals benefiting from the company’s activities, known as ‘beneficial owners.’ This declaration must be made by all directors and promptly updated within 30 days in the event of any changes to the company’s beneficial owners.

What Is a Beneficial Owner?