The Trade Register in Estonia
The Trade Register in EstoniaUpdated on Wednesday 06th November 2019
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The Estonian Commercial Register
The Trade Register in Estonia is mainly known as the Commercial Register and it was established in September 1995. The Estonian Commercial Register fall under the supervision of the Ministry of Justice and its core purpose is to register new established Estonian companies. It also has a portal for online registration that is currently considered the fastest in the world.
The functions of the Commercial Register in Estonia
As said above, the Register was first established in order to deal with company registration in Estonia. However, throughout the years it has become the main database where all details about companies are kept. The Estonian Trade Register is also in charge with updating the database and making changes in the registration details of the companies. Estonian companies also have the possibility to file their annual reports through the online portal of the Register. The Commercial Register is also employed as a communication means between the authorities. Another function of the Estonian Trade Register is that it makes information about companies available to the public.
The company registration process in Estonia
On the online platform of the Trade Register in Estonia a company can be registered simple and fast. The applicant must have his or her ID card that will use to logon to the platform, fill the required information and submit the required documents such as the Articles of Association of the company. The initial share capital can be transferred online into the bank account and the registration fees can also be paid online. It usually takes about one week for the documents to be verified. It is also important to know that the registration of a new company with the Estonian Trade Register must be done within one year from drafting the company’s Articles of Association.
Types of companies that can be registered with the Estonian Trade Register
The most employed types of companies in Estonia are the limited liability company and the joint stock company, but other forms of companies can also be registered with the Estonian Commercial Register. Investors can choose to register partnerships that can be general or limited, foundations, trade associations and foreign companies can register branch offices.