{"id":1767,"date":"2019-03-08T18:41:03","date_gmt":"2019-03-08T18:41:03","guid":{"rendered":"https:\/\/virtualofficeinestonia.com\/?page_id=1767"},"modified":"2025-04-09T01:27:29","modified_gmt":"2025-04-08T22:27:29","slug":"estonia-public-limited-company-as","status":"publish","type":"page","link":"https:\/\/virtualofficeinestonia.com\/et\/estonia-public-limited-company-as\/","title":{"rendered":"Public limited company (AS) in Estonia"},"content":{"rendered":"<h3 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-c8ec54b0918240e28a985762236080c6\"><strong data-start=\"865\" data-end=\"878\">2025 Overview<\/strong><\/h3>\n\n\n\n<p>A <strong data-start=\"347\" data-end=\"373\">public limited company<\/strong> (Estonian: <em data-start=\"385\" data-end=\"398\">aktsiaselts<\/em>, abbreviated <strong data-start=\"412\" data-end=\"418\">AS<\/strong>) may be established by one or more <strong data-start=\"454\" data-end=\"482\">natural or legal persons<\/strong>, with or without a subscription of shares. The company&#8217;s <strong data-start=\"540\" data-end=\"580\">share capital is divided into shares<\/strong>, which must be <strong data-start=\"596\" data-end=\"657\">registered in the Estonian Central Register of Securities<\/strong> (<em data-start=\"659\" data-end=\"693\">Eesti V\u00e4\u00e4rtpaberite Keskregister<\/em> \u2013 EVK).<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83d\udcd8 <strong data-start=\"709\" data-end=\"725\">Legal Basis:<\/strong> <a target=\"_new\" rel=\"noopener\" data-start=\"726\" data-end=\"858\">Estonian Commercial Code \u2013 Chapter 5 (\u00a7 221 onwards)<\/a><\/p>\n<\/blockquote>\n\n\n\n<h4 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-71563f86497e94bc8d4b04ff50d3458f\"><strong data-start=\"865\" data-end=\"878\">Liability<\/strong><\/h4>\n\n\n\n<p>The company is liable for its obligations with <strong data-start=\"926\" data-end=\"947\">all of its assets<\/strong>. However, shareholders are <strong data-start=\"975\" data-end=\"1000\">not personally liable<\/strong> for the company\u2019s debts or obligations.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-0a129981ac1e560676f5157c1a89c205\"><strong data-start=\"1047\" data-end=\"1071\">Capital Requirements<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><p class=\"\" data-start=\"1074\" data-end=\"1110\"><strong data-start=\"1074\" data-end=\"1099\">Minimum share capital<\/strong>: \u20ac25,000<\/p><\/li>\n\n\n\n<li><p data-start=\"1113\" data-end=\"1154\" class=\"\"><strong data-start=\"1113\" data-end=\"1148\">Minimum nominal value per share<\/strong>: \u20ac1<\/p><\/li>\n\n\n\n<li><p data-start=\"1157\" data-end=\"1305\" class=\"\"><strong data-start=\"1157\" data-end=\"1209\">All shares must be registered and dematerialized<\/strong>, entered in the <a data-start=\"1226\" data-end=\"1305\" target=\"_new\" rel=\"noopener\">Estonian Central Register of Securiti<\/a><\/p><\/li>\n\n\n\n<li><p data-start=\"1157\" data-end=\"1305\" class=\"\"><span style=\"background-color: var(--wp--preset--color--background); color: var(--wp--preset--color--senary); font-family: var(--wp--preset--font-family--poppins); font-size: var(--wp--preset--font-size--base);\">Rights attached to shares belong to the person <\/span><strong data-start=\"1354\" data-end=\"1386\" style=\"background-color: var(--wp--preset--color--background); color: var(--wp--preset--color--senary); font-family: var(--wp--preset--font-family--poppins); font-size: var(--wp--preset--font-size--base);\">listed in the share register<\/strong><span style=\"background-color: var(--wp--preset--color--background); color: var(--wp--preset--color--senary); font-family: var(--wp--preset--font-family--poppins); font-size: var(--wp--preset--font-size--base);\">.<\/span><\/p><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-064352ee5fbdf28a48737b3cf901be34\"><strong data-start=\"1398\" data-end=\"1422\">Management Structure<\/strong><\/h3>\n\n\n\n<p>A public limited company must have both a <strong data-start=\"1466\" data-end=\"1486\">Management Board<\/strong> and a <strong data-start=\"1493\" data-end=\"1514\">Supervisory Board<\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-3c2c04f528c232a272b5a1f9a86aa9f6\"><strong data-start=\"1522\" data-end=\"1542\">Management Board<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><p class=\"\" data-start=\"1545\" data-end=\"1616\">Acts as the <strong data-start=\"1557\" data-end=\"1575\">executive body<\/strong>, directing and representing the company.<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"1619\" data-end=\"1698\">May consist of <strong data-start=\"1634\" data-end=\"1665\">one or more natural persons<\/strong> with full active legal capacity.<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"1701\" data-end=\"1744\">Board members <strong data-start=\"1715\" data-end=\"1743\">need not be shareholders<\/strong>.<\/p><\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-b762e31a3ec95188b7aedcb87e178239\"><strong data-start=\"1751\" data-end=\"1772\">Supervisory Board<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><p class=\"\" data-start=\"1775\" data-end=\"1828\">Responsible for <strong data-start=\"1791\" data-end=\"1827\">strategic planning and oversight<\/strong>.<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"1831\" data-end=\"1878\">Cannot include members of the management board.<\/p><\/li>\n\n\n\n<li>There must be\u00a0at least three members<p data-start=\"1881\" data-end=\"1967\" class=\"\">unless the Articles of Association require more.<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"1970\" data-end=\"2049\">Supervisory board members must also be <strong data-start=\"2009\" data-end=\"2048\">natural persons with legal capacity<\/strong>.<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"2052\" data-end=\"2138\">Oversees and, where necessary, gives <strong data-start=\"2089\" data-end=\"2113\">binding instructions<\/strong> to the management board.<\/p><\/li>\n\n\n\n<li>The general meeting\u00a0must be convened, and the review results must be presented<p class=\"\" data-start=\"2141\" data-end=\"2205\">.<\/p><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83d\udcd8 <a target=\"_new\" rel=\"noopener\" data-start=\"2212\" data-end=\"2352\">Commercial Code \u2013 Supervisory Board requirements (\u00a7 316\u2013321)<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-79f0ae572957b63e209da17270057c74\"><strong data-start=\"2363\" data-end=\"2414\">Foreign Shareholders and Residency Requirements<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><p class=\"\" data-start=\"2418\" data-end=\"2572\"><strong>If <\/strong><strong data-start=\"2421\" data-end=\"2455\">more than 50% of board members<\/strong> <strong>reside outside Estonia, the company must<\/strong> <strong>provide <\/strong>a <strong data-start=\"2507\" data-end=\"2532\">local contact address<\/strong> <strong>in Estonia for official communications.<\/strong><\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"2575\" data-end=\"2679\">Foreign shareholders must register their <strong data-start=\"2616\" data-end=\"2649\">residential and email address<\/strong> with the Commercial Register.<\/p><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83d\udcec <a class=\"\" href=\"https:\/\/ariregister.rik.ee\/\" target=\"_new\" rel=\"noopener\" data-start=\"2686\" data-end=\"2748\">More info \u2013 e-Business Register<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading has-vivid-cyan-blue-color has-text-color has-link-color wp-elements-d2eca9a8a3889668e07d071805bb4688\"><strong data-start=\"2759\" data-end=\"2771\">Auditing<\/strong><\/h3>\n\n\n\n<p>A public limited company is required to appoint an <strong data-start=\"2824\" data-end=\"2835\">auditor<\/strong>, in accordance with the thresholds provided in the <strong data-start=\"2887\" data-end=\"2914\">Auditors&#8217; Activities Act<\/strong>.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83d\udcd8 <a target=\"_new\" rel=\"noopener\" data-start=\"2922\" data-end=\"3030\">Auditors Activities Act \u2013 \u00a791<\/a><\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong data-start=\"3041\" data-end=\"3082\">Other Legal Business Forms in Estonia<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><p class=\"\" data-start=\"3086\" data-end=\"3158\"><strong data-start=\"3086\" data-end=\"3118\">Private limited company (O\u00dc)<\/strong> \u2013 most common and flexible legal form<\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"3161\" data-end=\"3191\"><strong data-start=\"3161\" data-end=\"3189\">General partnership (T\u00dc)<\/strong><\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"3194\" data-end=\"3224\"><strong data-start=\"3194\" data-end=\"3222\">Limited partnership (U\u00dc)<\/strong><\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"3227\" data-end=\"3264\"><strong data-start=\"3227\" data-end=\"3262\">Commercial association (\u00fchistu)<\/strong><\/p><\/li>\n\n\n\n<li><p class=\"\" data-start=\"3267\" data-end=\"3323\"><strong data-start=\"3267\" data-end=\"3292\">Sole proprietor (FIE)<\/strong> \u2013 for individual entrepreneurs<\/p><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\ud83e\uddfe <a target=\"_new\" rel=\"noopener\" data-start=\"3330\" data-end=\"3446\">Overview of Business Forms \u2013 e-Estonia<\/a><\/p>\n\n\n\n<p><\/p>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>2025 Overview A public limited company (Estonian: aktsiaselts, abbreviated AS) may be established by one or more natural or legal persons, with or without a subscription of shares. The company&#8217;s share capital is divided into shares, which must be registered in the Estonian Central Register of Securities (Eesti V\u00e4\u00e4rtpaberite Keskregister \u2013 EVK). \ud83d\udcd8 Legal Basis: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1255378,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-1767","page","type-page","status-publish","has-post-thumbnail","hentry"],"jetpack_likes_enabled":false,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/pages\/1767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/comments?post=1767"}],"version-history":[{"count":0,"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/pages\/1767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/media\/1255378"}],"wp:attachment":[{"href":"https:\/\/virtualofficeinestonia.com\/et\/wp-json\/wp\/v2\/media?parent=1767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}