Committee forwards two bills facilitating foreign investment to Riigikogu

Jaanus Karilaid (Center).
Jaanus Karilaid (Center). Source: Priit Mürk/ERR

The Legal Affairs Committee of the Riigikogu has forwarded to the plenary for their first readings two bills that would make it easier for foreign investors to invest in startups in Estonia.

"The Legal Affairs Committee took a unanimous step toward improving Estonia's business environment in order to facilitate foreign investments in the startup sector," Legal Affairs Committee chairman Jaanus Karilaid (Center) said in a press release.

The Center MP said that both bills forwarded to the plenary Monday have the same goal, and their potential merging will be decided over in the course of further proceedings.

"All countries are competing for capital, therefore raising it should be as simple as possible," Legal Affairs Committee deputy chairman Toomas Kivimägi (Reform) said. "At the same time, it has to be acknowledged that as a result of the abolition of notarial attestation, legal certainty will suffer somewhat."

Kivimägi said that in the course of the handling of the bills, it should be examined to how great an extent the remote notarial verification and E-notar 3 development to be available beginning February 1 would ease the concerns of startup entrepreneurs.


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Editor: Aili Vahtla

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