General Partnerships in Estonia
General Partnerships in EstoniaUpdated on Friday 20th January 2017
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Estonia is a country situated in northern Europe with a powerful economy and high GDP. The country is rich in valuable rocks such as oil shale and limestone, and has a strong mining industry. The information technology is highly developed, Estonia being the place of origin of the Skype computer application. The general partnership is one of the legal forms which can be established in Estonia by two or more partners. If you intend to set up a General Partnership in Estonia, you can rely on our Estonian lawyers for complete legal support.
Particularities of the general partnership in Estonia
The Estonian Commercial Code prescribes that a General Partnership is a legal entity which can conduct sales activities, but which can as well be a non-profit entity. Therefore the concept of general partnerships in Estonia differs from the corresponding American one, since the Estonian legal structure can operate as well in any field, without restriction. By being considered a legal person, a General Partnership in Estonia will be entitled to conclude transactions, to open a bank account. The Estonian law allows for a lot of freedom in the structure of the partnership. The partners are given a lot of space and permissive limits for the delimitation of the partnership.
Our attorneys in Estonia can help you track the particularities of the Estonian legislation in order to ensure the compliance of your company to the local regulations.
The establishment procedure of a general partnership in Estonia
The first step to be made when you decide to open a company in Estonia is to find a name for it and decide its area of activity. For a general partnership you must decide who the partners are and how will the company will be organized and run. In the Estonian general partnerships the partners share the unlimited liability for the company, but they share as well the benefits. Therefore the partners must sign an association agreement in the bases of which the company can function.
Our law firm in Estonia provides complete legal services in company formation matters. Our local lawyers can help you and your partners establish quickly and professionally a general partnership in conformity with the Estonian regulations. Please contact our Estonian lawyers if you intend to open a general partnership in Estonia.