[vc_row][vc_column][vc_column_text]In this article, legal experts of LKS Consult OĂś give an overview of the information that you need to know before entering into a notarized contract in Estonia.
A notary in Estonia is a holder of office in public law, an independent official to whom the state has delegated the duty of ensuring the security of legal relationships and prevention of legal disputes. The main field of activity of notaries is the certification of transactions in civil matters on the request of natural persons and legal entities.
Notarization in Estonia enhances the protection of individuals’ rights and confidence in legal matters. The purpose of certification is to ensure the stability of relations between persons, and thus to prevent possible subsequent legal disputes. Below is a brief description of the work of notaries given on the website of the Estonian Chamber of Notaries.
Notary’s obligation to clarify
There are unfortunately cases when, despite the participation of a notary in entering into a contract, a party subsequently suffers damage precisely because of the clauses stipulated in the contract. In general, it can be assumed that when entering into a notarized contract, the parties understand and are clear about all their rights and obligations, since when concluding a notarized contract, the notary has the obligation to clarify. However, how extensive is the duty of a notary to clarify, and what should be considered before entering into a notarized contract?
Subsection 18 (1) of the Notaries Act stipulates that the notary must explain to the parties the meaning of the transaction, its legal consequences and various possibilities of concluding the transaction. At the same time, the notary must ensure that there are no mistakes and doubts about the transaction, and that the interests of an inexperienced and unaware participant are not infringed. Subsection 2 of the same article says that if the notary has doubts about the compliance of the transaction with the law and the actual will of the participants, the notary must discuss it with the participants.
The Supreme Court of Estonia (in its decision No. 3-2-1-17-15) explained that during the certification of the transaction, the notary is obliged to inform the parties, including about the consequences of the requested transaction, and to warn them about relevant legal risks. Also, the notary must in an unbiased form explain the possibilities how to achieve the result that best corresponds to the will of the participants. As the competent state official, it is the duty of the notary to ensure that the content of the transaction can be clearly and unambiguously determined at a later date. At the same time, the Supreme Court noted that the purpose of the requirement for notarization of the transaction can be both the protection of the parties to the transaction from ill-considered actions, that is, a preventive function, and their consulting.
Thus, the obligation of the notary to explain, which is implicit in the law, is quite broad and should include, among other things, a warning to the parties if the contract seems ill-conceived to the notary. The foregoing shall ensure that the parties enter into only such contracts, the contents and potential risks of which are well known to them. Unfortunately, case law shows that this is not always the case.
Ostensible transaction
However, the above is not the only reason why a notarized contract does not provide the parties with the protection one would hope for. In Estonia, it is still common to enter into so-called ostensible transactions. An ostensible transaction is a transaction in relation to which the parties have agreed that the manifestations of intention that they made to carry out that transaction do not have the legal consequences corresponding to the volition that was manifested – for the reason that the parties intend to create an impression of the transaction’s existence, or to conceal the transaction they actually intend to carry out.
In other words, a transaction is ostensible if a contract with one content is deliberately entered into, which for some reason is more beneficial to the parties, but in fact the parties are referring to another transaction.
The type of transaction that is most often ostensible is purchase and sale transactions. With the purpose of avoiding the payment of income tax on the income from the sale, often a gift agreement is concluded with a notary. At first glance, this may seem like a good plan, but in the event of a dispute, it will be very difficult for the injured party to prove what the real will of the parties was.
Without knowing the actual goals and intentions of the parties to the transaction, the notary cannot advise the parties when exercising their will, warn about the risks arising from the current law, explain the consequences of the requested transaction or prove the content of the will. Therefore, it is important that the parties disclose reliable information when notarizing the transaction and do not hide its actual content. In that case, the rights of the parties would be better protected in possible legal proceedings.
Conclusion
The duty of a notary to provide clarifications is quite broad and detailed, but nevertheless it should not be assumed that a notarized contract will protect in the event of any dispute. It is always worth making sure that all clauses of the contract are understood, and if necessary, clarify unclear places. It is also worth being honest with a public notary and disclosing only reliable information to ensure the best protection of your rights.
If you are interested in a notarial transaction, contact the representatives of the LKS Consult OĂś , and we will help you to book time to a notary and support you throughout the process.
Since December is the most magical time of the year, our team has prepared a special offer for all of our clients. Due to the upcoming holidays, during this month we are providing several discounts for the services you order.
(This offer is available until 31st of December of 2021)
[vc_row][vc_column][vc_column_text]Things do not always go according to the plan, and it’s completely OK. If a business doesn’t meet the hopes and expectations, or the circumstances demand the same, it is essential to initiate your company dissolution.
According to the Estonian legislation, an Estonian company’s activity cannot be suspended or paused — the company can either be active, in a state of liquidation or permanently liquidated. That’s why we strongly advise not to leave a company on its own when plans didn’t work out. It is important to act responsibly with a legal provider’s help to wrap this up and focus on new beginnings.
The most traditional way to liquidate a company in Estonia is a voluntary dissolution. Another potential option is to transfer a company to a new owner, simply put, to sell.
Voluntary dissolution
A full or limited partnership is terminated by a decision of the shareholders, upon expiry of the term or achievement of the objective, or is terminated by a court order.
In general, the termination of full and limited partnerships consists of three important phases:
Decision on termination and application for termination
Liquidation
Removal of the enterprise from the Business Register
The termination of a full or limited partnership shall be based on a shareholder’s decision for which more than 3/4 votes of the shareholders have been given, unless a higher majority is required by the association’s agreement. To close the company, submit a joint application to the Business Register with the minutes of the meeting of the members.
The decision to terminate a full or limited partnership and to apply to the Business Register is followed by liquidation, during which it is important for you to observe the established procedure.
Liquidation stages
Liquidators are appointed and entered into the Business Register. Liquidators are generally shareholders. A third person may be appointed as liquidator by agreement of the shareholders. At the shareholder’s request, the court may, for good reason, appoint a person who is not a shareholder as liquidator.
Approval of the opening balance of liquidation and the accounting for the business year by the shareholders. The opening balance of liquidation and the report for the business year shall be submitted immediately after approval to the Business Register.
Termination of the association, recovery of debts, sale of the association’s property and satisfaction of creditors’ claims.
Compilation of the final balance sheet of the liquidating enterprise and division of property, in exceptional situations also preparation of the report for the business year. The residual assets of the liquidators shall be distributed to the shareholders in accordance with the contributions of the shareholders, unless otherwise provided in the association’s contract.
After a proper liquidation of a full or limited partnership, you will be required to submit to the Business Register a declaration on the removal of the business from the Business Register.
By the time the total and limited partnership is liquidated, there are no strict restrictions, and it depends primarily on the characteristics of the enterprise and on the coherence of the cooperation between the different actors involved in the liquidation.
The completed activities of the association may also be continued, or the enterprise may be merged, divided or reorganized. Liquidators must submit to the Business Register a declaration of continuation of the business for this purpose.
Selling a company
The first thing to do when planning to sell a company is to find a potential buyer. When the buyer is found, you need to visit the notary and submit all required documents. Beforehand make sure that:
Annual reports are prepared
Accounting is in order
Corporate taxes are paid
Finding a buyer and managing legal procedures is rather complicated. It is very common and smart for entrepreneurs to use the services of legal providers.
Re-registration of a company occurs in two ways – by power of attorney or by a personal visit of all company representatives to Estonia. By law, the procedure for re-registering a company should take up to 5 business days after visiting a notary.
We are here to close this case for you. The specialists of LKS Consult OÜ have a vast positive experience in both company liquidation by voluntary dissolution and transferring. We offer full support on all stages of developing your business, and offer a variety of services, including accounting services in Estonia.
We will help you complete a company termination procedure as soon as possible in full compliance with the law and fully remotely. More about the services and cost, please find here.[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]The events of the past year have clearly indicated a trend towards the displacement of classical offshore workers from the civilized business world. More and more countries are exchanging tax information, imposing sanctions and restrictions that add to blacklists.
For this simple reason entrepreneurs also modify their business, and some even «move» to other countries where there are taxes, but they are minimal and conditions are quite acceptable. For example, taxes on business in Europe and the general well-being that has developed can serve as an example.
Montenegro. Firms in Montenegro pay a 9% tax. Resident companies are subject to income tax on profits earned worldwide. Non-resident companies are only for the profits that were earned in Montenegro. The withholding tax paid by non-residents for dividends, interest, royalties, and services can be calculated in accordance with the double taxation treaties signed by Montenegro with a number of countries.
Estonia. Profits of an enterprise are not taxed prior to distribution. The tax is deferred until the dividends are distributed. When profits pass the distribution procedure, they are taxed at 20%.
The Estonian taxation system is one of the most profitable in the world. It includes state and local taxes. A tax is a financial obligation that the law imposes on a taxpayer and is enforceable in the manner, amount, and duration prescribed by law. The taxpayer is obliged to pay only the state and local taxes prescribed by law.
Income tax on retention rate — 20%.
The income tax rate of a legal entity applied to dividends of profits is 20/80. The income tax rate of a legal entity, which is applied to a regularly distributed profit dividend, is 14/86, and income tax is withheld at a rate of 7 per cent in addition to dividends paid to an individual.
The amount of income tax-free depends on the income received (up to EUR 500 per month and up to EUR 6,000 per year).
The social tax rate is 33%. The monthly rate on which the minimum social tax obligation is based is 584 euros; respectively, the minimum social tax duty is 192.72 euros per month.
Social tax is levied to obtain the income necessary for State pension and health insurance, from payments made in the context of an employment or service relationship, from payments made in favour of a member of the management or control body of a legal entity, Payments made under a contract of obligations concluded for the provision of services to an individual, as well as special benefits and income tax paid from that place. In such cases, the payer of the social tax is the person who makes the payment, and the tax period is the calendar month.
Unemployment insurance rates: 1.6 per cent for the worker and 0.8 per cent for the employer.
The compulsory cumulative pension payment rate is 2 per cent.
In calculating the December 2020 payroll and other payments and calculating the taxes (payments) accrued/withheld, it should be borne in mind that taxes are calculated on a cash basis.
Bosnia and Herzegovina. Taxation in Bosnia and Herzegovina includes federal and local taxes. Income tax is levied at a single tax rate of 10 per cent on income from activities, interest, royalties and capital gains.
Hungary. Taxation in Hungary is administered by both national and local governments. The basic tax rate – 9% (+2% – tax base) – is the lowest in the European Union. Capital gains are included in the corporate tax, with some exceptions. In some cases, a company may pay a tax on a minimum tax basis.
Malta. Malta has a very interesting system. While the basic tax rate is 35 per cent, Maltese law provides for four modes of return. Thus, the actual tax, if properly managed, can be reduced to 5% and even 0% if the company makes a profit by being a member of another, foreign company. In addition, Malta is transforming its legislation and moving towards cryptocurrency.
[vc_row][vc_column][vc_column_text]Apostille or a sworn translation is an international certificate, comparable to notarisation in domestic law, suitable for presentation on the territory of countries that recognise this form of legalisation. Apostille stamp is placed on originals and copies of documents.
The notarised translation of documents (legalisation) of a company includes a number of specific formal procedures for making a document valid in another country. The fundamental rule of legalisation is that it shall only be performed by a sworn translator in an issuing or executing country.
The legalization of documents issued in one country is aimed at making them valid and appropriate for state bodies of another country.
A document issued in a foreign country without an apostille is invalid and the notary does not certify the translation of such documents.
A public document used in a State with which Estonia has concluded a legal assistance treaty does not need to be authenticated by an apostille.
A public document should be legalized if you wish to make use of it in a State not bound by the Convention on the Abolition of the Requirements for the Legalization of Foreign Official Documents, and in a State with which Estonia has not concluded a treaty on legal assistance.
Public documents issued in:
Belgium
Ireland
Italy
France
Denmark
Russia
Latvia
Lithuania
Ukraine
Poland
are accepted in Estonia without an apostille and must be notarized/certified only.
Documents, issued by countries that are not listed above and who are members of the Hague convention 5 October 1961 (CONVENTION ABOLISHING THE REQUIREMENT OF LEGALISATION FOR FOREIGN PUBLIC DOCUMENTS), must be apostilled to use them in Estonia. Other countries must go through the process of legalisation.
The package of documents consisting of whether non-apostilled/apostilled documents with sworn translations in English will allow you to apply for opening an account with a foreign bank for your Estonian company or carry out transactions on behalf of the Estonian company in other countries.
LKS Consult OĂś will help you with the sworn translations you may need. Additionally, we provide accounting services in Estonia. Please send your enquiry.[/vc_column_text][/vc_column][/vc_row]
Estonian law requires entrepreneurs to comply with local legal requirements when doing business there. In order to avoid legal issues in the future, every aspect of Estonian legislation needs to be followed in order for a company to operate legally.
Starting a business in Estonia is the most advantageous option. It is easy, convenient, and affordable for entrepreneurs to establish a company in Estonia due to the advantages it offers. Despite this, company formation is still a legal procedure and involves several legal and business aspects subsequent to the formation of a company and the ongoing management of the company.
In addition, receiving professional support when starting your business ensures legal reliability and, in turn, trustworthiness, which is crucial for a new business. The importance of maintaining a company’s reputation from the moment it is founded cannot be overstated. Complying with Estonian legislation from the outset will improve your company’s chances for literate management.
In the event that an incompetent decision is made, you will avoid unnecessary expenses and save time by consulting a lawyer before taking any action. You will also be able to learn about the new opportunities and prospects of the situation by involving a lawyer in preparation of the next step.
Getting detailed information regarding various legal aspects current in Estonia will be a pleasure for the professionals at LKS Consult OÜ .
We consider it essential that LKS Consult OÜ provides qualified assistance in a wide range of legal areas –  legal opinion, legal advice, document drafting and other services that can simplify business activities.
LEGAL OPINION
In the future, you can avoid costly litigation if you seek a legal opinion to clarify your legal rights. The involvement of a foreign lawyer or attorney is necessary when dealing with foreign counterparties when issues from multiple jurisdictions are being raised at the same time.
A legal opinion should be ordered with a clear understanding of its purpose:
The agreement has legal implications, so it is important to familiarize yourself with them
If you want your arguments to be legally supported,
A legal risk assessment can be conducted in order to learn more about it
Your plan to comply with the Regulator’s requirements must be shown to them
For the Client or Partner to accept your offer, you must convince them that it is legally binding
You will be able to protect your company in the future if you have this tool.
As a company, you may refer to a legal opinion during future business activities.
Legal opinions are required in the following cases:
If you want to know what permits/licenses you will need to start your business, click here
A transfer of intellectual property rights is an intellectual property transaction
Mergers and acquisitions that take place internationally
The launch of a cryptocurrency exchange is the first step in launching a cryptocurrency project.
LEGAL ADVICE
In addition to drafting legal documents and agreements, providing advice on trade licenses, trademark registration, and more, we also provide assistance on Estonian company law issues.
In accordance with the Estonian legislation, LKS Consult OĂś ‘s legal department can prepare documents specific to your business needs.
Documents have a significant impact on the way your company is managed, how profits are distributed, what rights shareholders have, and how company decisions are made. It is clear in your company’s documents what rights and obligations clients and partners have.
In order to determine the optimal solution, our lawyers will analyze the planned legal relations, consult with you and make an assessment. The Estonian Business Register can also be amended if necessary existing documents need to be adjusted.
We help draft the following documents:
Rules and regulations within the company
Charters of individual companies
An attorney-in-fact/a proxy text
Legal opinion
We offer legal services to companies outside of Estonia. International business requires legal support to be successful. In view of the fact that corporate law can vary from country to country, company owners should familiarize themselves with the legislation for each particular area of business before establishing a company.
Providing you with the best and most convenient way to experience Estonian legislation without sacrificing the quality of information is our promise.
Our goal is to meet the needs of your business by providing a customized approach to our clients. Aside from keeping up with changes in Estonian legislation, LKS Consult OÜ also offers its clients continuous support through all stages of business growth.[/vc_column_text][/vc_column][/vc_row]
Taxation of income from financial assets derived from an investment account.
An investment account allows the reinvestment of the profit or income derived from a financial asset without the payment of income tax and the deferral of the tax liability for the payment of income tax on income derived from financial property.
An investment account is a regular cash account maintained with a credit institution resident in a State member of the Organization for Economic Cooperation and Development (OECD) or in a fixed place of business of a credit institution located in an OECD State.
The investment account for deferment of tax obligations can only be used by a resident of Estonia. The income from the financial assets of a non-resident is taxed in the country of residence. Thus, if the user of an investment account becomes a non-resident of Estonia, it is necessary to mark the closure of the investment account in the income declaration, pay the income tax obligation arising in Estonia, and further transactions in financial assets must be declared in the new State of residence.
A natural person may have one or more investment accounts. In order to defer the income tax obligation, transactions in financial assets should be conducted through an investment account.
Financial assets include, for example, publicly offered securities, shares and shares of an investment fund, bank deposits/deposits and contributions made under an investment risk life insurance policy.
Financial assets do not include contributory pension funds and pension fund shares, life insurance contracts, participation in non-listed business entities, money issued under loan agreements, derivatives, non-financial asset-based investments, investments in foreign currency, as well as real estate and precious metals.
Investment account and acquisition of financial assets
Local authorities establish the general rule that in order to defer a tax obligation, financial assets must be acquired from the money in the investment account, and the money received from the sale of the financial assets or the income derived from the financial assets should be transferred immediately to the investment account. This is also the case when an investment company (brokerage firm) is used for investment.
It provides an exception to the general rule that, in certain cases, financial assets that have not been purchased with money in the investment account may be included in the investment account system. The purpose of the exclusion is to prevent a person from being forced to use a system of ordinary and investment accounts at the same time, because of the content of the transaction to acquire financial assets, he or she cannot comply with the general rule.
An example is the acquisition of a financial asset by inheritance, gift, liquidation or option of participation, which is not a contract of sale, and a person is unable to pay for the transaction without changing the content of the transaction. The exception provides that, in order to defer the income tax obligation arising from income derived from financial assets that could not be purchased for money due to the content of the transaction, The value of the acquisition of the financial asset should be included in the income declaration as a contribution to the investment account.
Investment account and currency conversion
Currency is not included in the definition of a financial asset and cannot be invested from an investment account. However, a portion of the financial assets can only be purchased in a currency other than the euro. Hence, the acquisition of a currency other than the euro from the investment account is sometimes unavoidable and is not made for the purpose of investing in currency According to this provision, a person has the right to convert currency provided that the currency sold is in an investment account and the currency purchased is immediately transferred to an investment account.
Investment account declaration
Investment account data and income from financial assets are declared in schedule 6.5 of the resident individual’s income statement (hereinafter, the income statement). Only contributions made to the investment account (cash account) and payments made from that investment account are declared in the income declaration. If the payments exceed the contributions, then the income tax obligation arises.
In general, only:
Money deposited in an investment account (money account)
Withdrawals from the investment account (cash account).
As a contribution to the investment account, table 6.5 should also declare:
Cash balance in the account when opening an investment account;
Dividends on financial assets received from abroad and taxed by income;
Interest on financial assets received from abroad and subject to income tax;
Dividends on financial assets received in Estonia and taxed in Estonia;
Dividends on financial assets received in Estonia and taxed in Estonia.
LKS Consult OĂś provides legal advice on taxation in Estonia as well as accounting services. Don’t hesitate to get in touch with us and present your enquiry.[/vc_column_text][/vc_column][/vc_row]
Legal opinions are written documents that contain in-depth legal information about a customer’s company or a particular issue. The following information will help you understand this legal aspect.
Firstly, we stress that legal opinions are beneficial for a business owner and facilitate the reduction of chances of violating the law during the implementation of the transaction and launching of the project, as well as providing insight into upcoming stages.
Additionally, you can determine whether planned legally significant actions are appropriate and legal in the particular jurisdiction you are considering by getting an independent opinion of a Lawyer/Attorney.[/vc_column_text][ultimate_spacer height=”1″][vc_column_text css=”%7B%22default%22%3A%7B%22margin-top%22%3A%220%22%2C%22padding-top%22%3A%220%22%7D%7D” el_class=”padding”]
WHAT IS THE PURPOSE OF ORDERING A LEGAL OPINION DOCUMENT?
In short, legal opinions help company owners to learn how to support their businesses legally and familiarize themselves with the legal implications of agreements. In addition, it provides an opportunity to learn about potential legal risks.
A LEGAL OPINION IS NEEDED IN WHAT CASES?
During your company’s future business activities, you can refer to legal opinions as a reference document.
A legal opinion may be required in the following cases:
If you would like to know what licenses/permits are required to start a business, please click here
A transfer of intellectual property rights is an intellectual property transaction
Mergers/acquisitions involving international companies
A cryptocurrency exchange is one of the first things to consider when launching a cryptocurrency project
During the process of drafting a legal statement, you will be asked for information about your company. A knowledge of the law applicable to the legal relationship between the Customer and the Website can also be found in this section.
Research
In this section, we discuss how we analysed the documents provided by you and the results of our study. Documents such as transaction documents, constituent documents, minutes of governing body meetings are usually included.
Opinion
Section three of the Legal Opinion consists of answers to questions that may be of interest to the customer. Legal conclusions/legal analyses are contained in this section. Potential risks and recommendations are also included in this stage.
Suppose you are a foreigner-businessman interested in investing in the Estonian market. In that case, you should familiarise yourself with local legal frameworks beforehand and know what kind of legal support you can rely on.
Establishing a company in Estonia enables entrepreneurs to take advantage of the country’s friendly business environment and develop any business hassle-free. Still, having a business means comply with legislation — Estonian legislation is not exempt. Therefore, as a non-citizen, no one can be exempt from legal obligations required by the law.
There is nothing to be pushed aside by; moreover, the law is intended to support and maintain business by regulating its activity. However, in order to comply with the government regulations, it is crucial to know various legal aspects — rights and obligations.
This article explores legal support services for these purposes — below are 4 types of legal services to support you and your business based in Estonia.
Legal advice
First and foremost, there is a legal advice service. It means you can request help from a legal service provider and receive a consultation on the different legal matter of your choice and interest.
Whether you are having an actual issue or just want to learn more about some legal aspect to avoid future problems, you may need legal advice.
Just provide the business consulting company with the information, and you will receive feedback that can also be referred to during the future activity of your company.
Some potential topics to discuss, but not limited to:
Commercial, labour and contract law
Estonian legislation
Legal documentation
Trading online
Financial licenses
Legal documents
Another valuable assistance available for entrepreneurs is help with documentation. Every business, even the one based in Estonia where all the processes are simplified and take place online, implies paperwork — documents drafting.
The contents of the documents affect how your company will be managed, how its profits will be distributed, what rights the owners of the company share have, how decisions will be made in the company. The rights and obligations of clients and partners of your company are clearly defined in the documents.
Why waste your time if, with a helpful hand of a professional lawyer, the following documents could be developed within the shortest possible time:
Company internal rules
Company regulations
Proxy texts
Development of site conditions
Legal opinion
Legal analysis of documents for compliance with Estonian legislation
And many more you may need help with.
Legal opinion
Legal opinion is a written document that includes a detailed legal opinion on a particular issue or aspect of the customer’s activities. It is drawn up solely in the interests of a businessman to reduce the risk of violation of the law during the implementation of the transaction/launch of the project and to understand the upcoming stages fully.
The legal opinion allows you to get an independent view of a lawyer/attorney on a non-standard issue and determine whether the planned legally significant actions are appropriate and legal in the particular jurisdiction under consideration.
Simply put, legal opinion allows you to clearly define your legal rights and help you avoid costly litigation in the future. In that way, if you have any hesitations and feel that legal opinion is something you need — consider finding a service provider.
Legal audit
One more way to secure your business is by drawing an audit. It allows you to protect your business in time — to detect, minimise or completely neutralise potential risks that financial, reputational, competitive and other losses may entail.
In addition to the legal audit at the customer’s request, the company’s activity’s most problematic or significant directions can be investigated.
Expert opinion is something you may need to secure your business at its start and during the development.
The specialists of LKS Consult OÜ will be happy to assist you with company registration in Estonia.[/vc_column_text][/vc_column][/vc_row]
This blog article explains the basics of legal requirements for your Estonian company and is happy to offer our services.
When doing business in Estonia, an entrepreneur undertakes to comply with local legal standards. Complying with Estonian legislation in every aspect enables a company to exist legally and avoid further legal issues.
Estonia is the most favourable jurisdiction for starting a business. Considering the opportunities Estonia provides for entrepreneurs, establishing a company is fast, convenient and affordable. However, company formation is still a legal procedure and involves several legal and business aspects that follow a company establishment and further company management.
We are well aware that not every entrepreneur is willing to deal with legal aspects on his own for several reasons. First of all, time is a valuable asset nowadays, and in the case of business people, it is reasonable to share the legal responsibility with service providers and, in the meantime, focus on other matters regarding business development. Secondly, by requesting professional assistance from a trusted provider, you ensure your business with a smooth start and avoid further potential unpleasantness.
Moreover, receiving competent support for your business provides a company with legal reliability and thereby contributes to trustworthiness which is, in fact, crucial for every beginning business. Without a doubt, it is important to take care of a company’s reputation since its very establishment; an accurate start complying with Estonian legislation improves the chances of your company for subsequent literate management of a company.
In that way, LKS Consult OÜ considers it essential to offer qualified assistance with different legal aspects — legal opinion, legal advice, document drafting and other services that can simplify the activities of your company.
We believe that legal support for your business is the key to the effective functioning of your company. Since corporate law may vary from country to country, the company owners need to familiarise themselves with the legislation in each particular business area before starting their activities. We promise to help you experience Estonian legislation most conveniently and quickly and at the same time not losing the quality of provided information.
Specialists of LKS Consult OÜ will help you with legal aspects regarding your business in Estonia.[/vc_column_text][/vc_column][/vc_row]
In this article, legal experts of LKS Consult OĂś give an overview of the information that you need to know before entering into a notarized contract in Estonia.
Things do not always go according to the plan, and it’s completely OK. If a business doesn’t meet the hopes and expectations, or the circumstances demand the same, it is essential to initiate your company dissolution.
The events of the past year have clearly indicated a trend towards the displacement of classical offshore workers from the civilized business world. More and more countries are exchanging tax information, imposing sanctions and restrictions that add to blacklists.
Apostille or a sworn translation is an international certificate, comparable to notarisation in domestic law, suitable for presentation on the territory of countries that recognise this form of legalisation. Apostille stamp is placed on originals and copies of documents.
An investment account allows the reinvestment of the profit or income derived from a financial asset without the payment of income tax and the deferral of the tax liability for the payment of income tax on income derived from financial property.
Firstly, we stress that legal opinions are beneficial for a business owner and facilitate the reduction of chances of violating the law during the implementation of the transaction and launching of the project, as well as providing insight into upcoming stages.
Establishing a company in Estonia enables entrepreneurs to take advantage of the country’s friendly business environment and develop any business hassle-free. Still, having a business means comply with legislation — Estonian legislation is not exempt. Therefore, as a non-citizen, no one can be exempt from legal obligations required by the law.
When doing business in Estonia, an entrepreneur undertakes to comply with local legal standards. Complying with Estonian legislation in every aspect enables a company to exist legally and avoid further legal issues.