Leaders of Parempoolsed, a faction that split from the Isamaa Party last year, will register as a political party on August 18.
At a press conference to unveil the party's branding on Friday, it was announced the party's board will be elected on August 18 and candidates are currently being nominated.
One of Parempoolsed's leaders Lavly Perling said politics in Estonia is currently leaning leftwards and traditional parties are right-wing in name only. They are also taking steps towards redistribution and state intervention rather than entrepreneurship and self-reliance.
Vanaselja told ERR: "Leaning towards socialism is what threatens the development of the Estonian state, its progress and the new steps that Estonia could take. We need a balancing force that will stand up for the right-wing values that have served and carried the Estonian state forward to this day."
The current Estonian government is the most left-wing coalition in the history of Estonia, he said, as record sums of loan money were being spent by the last government before it collapsed.
Vanaselja said energy costs do need to be dealt with and people need support in difficult times but "blanket subsidies for everyone" are not preferable to targeted measures.
"Today's government, just before the crisis, has decided that it is reasonable to live beyond one's means," he said.
The group needed 500 members to register as a political party. The next election will be held in March 2023.
Parempoolsed (right-wingers) formed in 2020 in reaction to the hard-right leadership of Isamaa, which, at the time, was in coalition with Center and EKRE.
More than 100 members of the party founded the faction and published a manifesto titled "The right-wing choice for Estonia".
They promised to stand up for Western values and right-wing opinions but against extremists in Estonian politics.
Their policies include "smart" managed migration, simple and low taxes, an open economy and pushing forward with innovation and change.
Editor: Helen Wright