Description
Service Package Includes:
- Necessary actions
Activity report, balance sheet, income statement, cash flow statement, activity report. - Granting official status
Submitting the data to the Estonian Business Registry - Business Registry Guide
A detailed manual on how to grant rights to the accountant.
Pricing and Service Details:
- If your company’s annual turnover is less than 40,000 EUR, you don’t pay monthly salaries, have a low volume of transactions, and are not subject to auditor evaluation, you may only need accounting services once a year for the preparation of your Annual Report.
- This service includes put-in-order accounting
- If the number of entries exceeds 100, any additional work will be quoted and charged separately.
- This solution provides a hassle-free way to meet your annual reporting obligations, ensuring compliance while saving time and effort.
Representation Rights:
To facilitate registration, we require your consent to grant us the right to represent you. This requires possession of an Estonian e-resident card, an Estonian ID Card, Mobile ID, or Smart ID.
Alternative solution
We can utilize a Power of Attorney if these options are unavailable. To do this, you must send us an apostilled power of attorney issued by a notary in your local country. A sworn translator will translate it in Estonia.
FAQ
Submission of the annual report is mandatory in any case.
Every Estonian legal entity – including micro‑sized OÜs owned by e‑residents – must file an annual report (majandusaasta aruanne) with the Business Register within 6 months after the end of its financial year (Commercial Code § 60).
Typical deadline: If your financial year = calendar year, the report is due 30 June of the following year. To change the FY you must submit a shareholders’ resolution and amend the articles in the Business Register before the new FY starts.
1. What must be included?
Estonian GAAP (Estonia’s Good Accounting Practice) recognises four size categories. Reporting requirements scale with size:
The size of the company determines which statements are required: micro-entities file only the balance sheet and income statement, whereas small entities add a cash-flow statement and management report, and larger ones include changes in equity and often an audit.
Most of our clients fall under micro or small category.
2. Penalties for late filing
| Delay | Sanction |
| Up to 3 months | Warning letter & initial fine (typically €200–€300) |
| Over 3 months | Repeated coercive fines up to €3 200 total |
| Persistent non‑compliance | Court‑ordered compulsory dissolution of the company |
Late filing also raises red flags with banks and partners; keep your compliance record clean.
3. Best‑practice timeline (calendar‑year FY)
| Month | Task |
| Jan‑Feb | Close previous FY in accounting; reconcile balances |
| Mar | Draft financial statements; collect supporting documents |
| Apr | Management review; prepare notes & management report |
| May | Board approves package; send to auditor (if required) |
| Jun | Shareholders’ meeting adopts the report; board member signs; submit by 30 Jun |
Submitting early avoids last‑minute e‑system congestion.
Need assistance? Contact us for a fixed‑fee quote.
This overview is for general information only and not legal advice. Always check current laws and the Business Register instructions.
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