How to Set up and Register an Estonian Company - Ultimate Guide

Updated: Mar 21



You picked up your Estonian e-residency kit and you are now ready to create your company in Estonia.


Congratulations!


Now two main issues worth noting :



Language barrier :


The website to register your company is only available in Estonian and English which can be tough to understand for a non-English speaking person.

Particularly to complete the article of association section (I’ve been there a few times and believe me when I say it’s not my favorite thing…).


Stamp duty payment issues :


The credit card payment of the tax stamp is not available for those who do not have a bank account in Estonia.


And as you may know, banks are reluctant to open a bank account to e-residents in Estonia.


Therefore the most direct way to do it is through payment by bank transfer.

Which opens the possibility of a human mistake.


True story : I know someone that managed to get the reference number wrong...

He lost one week of business activity !


So, wouldn’t it be great to have a simplified system available in different languages, payable by credit card regardless of one's country of residence ?


In order to avoid potentially wasting hours or even days of precious time not billing.


Well, this solution exists !


We’re going to show you in this article exactly how to use it in order to create and register your company in Estonia in 10 minutes or less.


Are you ready ?


“C’est parti !”

("let's go" in French)



1. Login to Unicount


Unicount is a legal address and contact person service provider that helps digital entrepreneurs form companies in Estonia.


They are a trusted member of the "e-Residency" platform along with LHV, Wise, Payoneer, Paysera, Stripe to name a few.




2. Choose your language


Choose your preferred language, by clicking on the top left scroll down menu.


At the time of writing this article the available languages are French, Russian, German, Turkish and Spanish.




3. Choose your company name


Make sure the name of your future company is available.


If you need help in avoiding legal friction you may contact a trademark lawyer.



4. Connect


Connect via your e-resident card, with your card reader using Pin #1.


Enter the number that’s on your e-residency card. That is the 11 digits number usually starting by 3, as you can see highlighted in green below.












5. Enter your contact details


Provide a phone number and an email address.


When it comes to your home address it’s important to know the difference between these two situations :


If you live outside of Estonia


You will need to choose a contact person and legal address package (more on that later in this article);


If you live in Estonia


Type your address in the address field until it automatically finds it.


You will be able to set it as your place of business and therefore won't have to opt for the legal address and contact person package.



6. Register


Main Activity


This is needed for the business register upon creating a company in Estonia.

It is similar to a “code APE” in France (Activité Principale Exercée).


For example if you are doing e-commerce, you may choose the code : 47911 "Retail trade by mail order or via the Internet."




Make sure you choose one that reflects the main source of income for your company.


This code can be amended later in the register should you change main activity during the existence of your company.


Share Capital


The share capital of an Estonian limited company (OÜ) is €2,500.


Legal Address


Since 2018 it has been mandatory for e-residents owning an Estonian company to have a legal address and contact person.


Here is what the republic of Estonia says about this obligation :


If the management board of your Estonian company is located abroad, you will need a legal address in Estonia and a designated contact person, as required by the Commercial Code. Both of these services can be obtained from a virtual office service provider.

Therefore, unless you live in Estonia this box needs to stay ticked.



7. Confirm


Make sure your information is correct.



8. Sign


Use Pin #2 in order to sign digitally.




9. Pay


Here is how the payments works :


One time Setup fee


The company registration fee is €290, including the state fee of €265.

That means you pay €25 on top of the state fee for the Business Register API.


Annual recurring fee


The legal address and contact person bundle si €179/year.


But since LifeInvest® helped Unicount translate their company formation process, they were kind enough to grant our new readers with a special discount.

Use promo code: 22LIFEINVEST to get a nice 10 % discount. It’ll cost you €155 instead of €179 the first year.

This offer is limited and may change in the future.



For the following years, the recurring annual fee is €179.


Disclaimer : we are incentivized on each sale, but that doesn’t change our views about the quality of their service.


That’s a win win, and and I hope you’ll like it !


Once you click Pay Now, you will land on a Stripe secure payment page to confirm your purchase.


10. Check your emails


You receive a confirmation email from Unicount with a downloadable version of your application.


























Simultaneously your application is submitted to the Estonian Company Registry with an API.


It usually takes 1-2 working days for the Estonian registry to send you the official company registration document with you registration number (highlighted in green in the example shared below).


























Congratulations!


Following these 10 easy steps you will have registered your company in Estonia without wasting time and without making mistakes normally.


Important note: this solution is only compatible for single shareholder companies.


In the case of multiple partners: the articles of association have to be adjusted online via the Estonian company register directly as it is not yet compatible with an API connection.


Please contact us should you need help in creating an Estonian company with multiple associates.


But for most of you, you have everything you need in this video to create a limited-liability company in Estonia quickly and smoothly thanks to our friends over at Unicount.


Click here right away to get started in under 10 minutes.


LifeInvestment yours,

Romain



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