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

FAQ Tag: Law

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Registration of the activities of a small fund manager without an activity license

The registration of the activities of an unlicensed small fund manager is regulated by § 453 of the Investment Funds Act (IFS). Accordingly, in order to register the activities, the applicant must submit a written application to the Financial Supervision Authority and the following information and documents specified in IFS:

  • the contact details and articles of association or another equivalent document of the small fund manager
  • the number of funds managed and their names or business names
  • the dates on which the funds managed are set up or set up and the law under which they are set up or set up
  • information on the investment policy of the funds, including the fund’s investments and marketable instruments, trading venues, the fund’s main risks, and the composition and total value of assets under management

In addition to the above, the following must also be submitted:

  • the partnership agreement of the fund to be established and, if necessary, also the management agreement
  • rules of procedure and internal control rules which comply with the requirements provided for in § 14 of the Money Laundering and Terrorist Financing Prevention Act (RahaPTS)
  • Money risk document provided for in § 10 of the PTS
  • rules of procedure and internal control rules which comply with the conditions of § 23 of the International Sanctions Act
  • an organizational solution for the prevention of money laundering and terrorist financing, based on the principle of three internationally recognized lines of defense (including the number of employees in each line of defense)
  • legal self-analysis, taking into account the guidelines on the basic concepts of the Directive on Alternative Investment Fund Managers ESMA / 2013/611 (available on the website of the Financial Supervision Authority here: http://www.fi.ee/failid/Soovituslik_juhend_ESMA_suunise_ylevotmine_2013_611.pdf), which would indicate the . In the elements of the self-assessment, it is appropriate to refer to the partnership agreement of the proposed fund or other relevant documents from which the relevant rights or obligations of the fund, the fund manager and investors arise
  • A document certifying payment of the processing fee on the basis of subsection 457 (4) of the Financial Supervision Authority Act (payment order)
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Can non-residents use the e-services of the Estonian Tax and Customs Board?

As a non-resident, you can sign in to the Estonian Tax and Customs Board’s self-service environment and use the e-services if you have:

  • the eID of one of the following EU Member States:
    • Germany (National Identity Card, Electronic Residence Permit)
    • Italy (Carta di identità elettronica)
    • Spain (DNIe)
    • Belgium (Belgian Citizen eCard, Foreigner eCard)
    • Luxembourg (Luxembourg eID card)
    • Croatia (Personal Identity Card (eOI)).

Anno 2023.

Estonia’s e-Residency

If you are unable to use the above-mentioned authentication methods, we recommend you apply for Estonia’s e-Residency. E-Residency offers foreigners secure access to Estonia’s e-services. Holders of the e-resident’s Digi-ID card can digitally sign documents and use the Digi-ID to sign in to all portals and information systems that recognize the Estonian ID card.

You can apply for an Estonian e-resident’s Digi-ID electronically at https://eresident.politsei.ee/.

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How long it takes to liquitate the company?

The usual liquidation process lasts at least half a year.

It starts with the initial decision and ends with the final balance and deletion from the register. A faster solution is to sell the company to us, and then we will continue with the liquidation ourselves.

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