Virtual Office FAQ
The information you need to provide in the annual report depends on the size of the company. For example, small businesses are required to provide an activity report, balance sheet, income statement, and specifically required notes. A small company is a company with total assets of up to 4 million euros, annual sales of up to 8 million euros and an average number of employees of up to 50 people, one of which may be exceeded. A micro-enterprise is a private limited company with total assets of up to 175 thousand euros, liabilities not exceeding equity and annual sales revenue of up to 50 thousand euros. The micro-enterprise has one shareholder who is also a member of the management board. The micro-enterprise does not have to submit an activity report in the annual report and the number of annexes is also minimal. Submitting an annual report is mandatory for all the companies registered in Estonia, within 6 months from the end of the company’s financial year. Usually, the financial year is the same as the calendar year in which case the deadline is the last day of June.
It has to be prepared in Estonian and in the currency officially applicable in Estonia (EUR). The court maintaining the register has the right to repeatedly and without warning to punish the undertaking and all persons required to submit the data for failure to submit the report on time. The fine is determined to the extent provided for in the Code of Civil Procedure. If the report has not been submitted within 18 months after the end of the financial year, the court which maintains the register shall delete the register of a legal person or decide on its dissolution or liquidation. By logging in to the e-Business Register, the first page will show the companies that are related to you. There you can also give your digital signature for accountant confirmation for the company. The step by step manual is added to your order confirmation. If you have an Estonian company then submitting an annual report is required for all companies registered in Estonia even if there is no activity during the financial year. Annual report (8)
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