Entrepreneurial consultations: company formation, an address and contact person services, accounting, VAT number, etc. specifically in Estonia, in EU.

FAQ Category: General

Can I live in the EU with e-Residency?

No. Your status as an e-resident does not grant permission to live in Estonia or within the EU. You will not receive benefits related to EU residency by becoming an e-resident.

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Is e-Residency a good solution for my planned business activities?

The best suited businesses for e-Residency are paperless companies that can be run completely online independent of location, for example consulting or freelance services in IT and communications, professional and scientific activities, and administrative and support service activities.

We are increasingly seeing e-residents setting up small to medium eCommerce and dropshipping businesses, as well as larger companies manufacturing and/or selling physical goods wanting to set up a subsidiary in Europe.

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Registration of non-residents

Non-residents not registered in the commercial register in Estonia and operating in Estonia through a permanent establishment or non-residents not having a permanent establishment but being employers in Estonia have to register with the Estonian Tax and Customs Board. Likewise, non-resident employees and recipients of payments not having an Estonian personal identification code have to be registered with the Estonian Tax and Customs Board.

Closer look: https://www.emta.ee/en/business-client/registration-business/non-residents-e-residents/registration-non-resident

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Determination of beneficial owners

The obligation to keep and collect data of the beneficial owner, which entered into force on 1 September 2018, arises from Chapter 9 of the Money Laundering and Terrorist Financing Prevention Act.

By law, private legal entities have an obligation to maintain and collect relevant, accurate and up-to-date information on beneficial owners, as well as information on ownership or other means of exercising control.

Until now, the obligation to identify the beneficial owner has been incumbent on credit and financial institutions, notaries and other obligated persons when establishing a business relationship or concluding transactions. Pursuant to the provisions of the Money Laundering and Terrorist Financing Act, which entered into force on 1 September 2018, legal persons in private law are required to disclose their actual beneficiaries through the commercial register. To this end, the shareholders of the company must disclose the details of the beneficial owners to the management board. The management board then submits this information via the company portal or a notary.

Data on beneficial owners must be provided: companies, foundations and non-profit associations (excluding housing and building associations and foundations). There is no obligation for self-employed persons to provide data.

In order to publish the data of these beneficiaries, the authorized person must enter the enterprise portal, click on the link “Actual beneficiaries not specified” on the home page and specify the person (s) from the available selection or enter the data: name, personal identification code, country, role.

Information must be disclosed for natural persons whose direct or indirect participation or other control in the enterprise exceeds 25 per cent.

The deadline for submitting data is 30 October 2018, but the possibility to submit remains open on a permanent basis.

The Ministry of Finance has pointed out in the data submission guide below that the provisions on penalties for non-submission of data of actual beneficiaries will not enter into force before January 2019.

If the data changes in the future, the updated data must be submitted to the register by the management board of the association within 30 days. In the future, the accuracy of the data of the actual beneficiaries must also be confirmed in the company’s annual report, if they have not changed.

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Power of Attorney process?

  1. We email you the Power of Attorney.
  2. You send us the POA and copy of the Passport once notarized and legalized.
    • Notarization: Take the Power of Attorney and Passport to your nearer Notary Public.
    • Legalization: After the documents have been notarized, they require legalization.
    • You can ask your notary if they can also take care of the legalization and send the documents by post. If not, you can legalize and post it yourself.
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