So it became official now: Estonia’s Parliament has just voted to amended the Commercial Code so that you can use any credit or payment institution across the European Economic Area to register share capital – effectively removing the requirement to have an Estonian bank account.
Excellent news for e-Residents: The Estonian government at its Thursday meeting approved a plan which would allow for the use of an account located in any European Economic Area (EEA) state for establishing a private limited company in Estonia.
The Estonian government at its Thursday meeting approved a plan which would allow for the use of an account located in any European Economic Area (EEA) state for establishing a private limited company in Estonia.
According to current legislation, non-residents have difficulties opening a bank account on behalf of a company in Estonia, which according to current law is the prerequisite for establishing a private limited company in ordinary procedure, the government’s press office said.
As from January 1st 2019, it will be possible to use an account located in a bank or financial institution of any EEA state when establishing a private limited company. According to current law, only a bank account at a bank established in Estonia can be used; the account is necessary as a monetary share capital down payment will have to be transferred there when establishing a company.
On January 15th 2018 there will be new rules in force regarding contact persons for Estonian companies with management residing outside Estonia. Starting from this date, all these companies must have an authorized contact person in Estonia for receiving procedural documents.
B2baltics consulting have been providing this service already for companies where more than 50% of shareholders were residing outside the EU. Because of the new rules coming in force as of January 15th 2018, we are now asking all our clients within the EU to apply for this service. At the same time we have decided to offer this service as an integrated part of our virtual office/legal address service, and therefore there will be no extra charges for our clients.
Instructions for adding authorized person: add person