Amendment passed allows Estonian companies to be run from abroad
The Riigikogu on Wednesday voted to accept amendments to Estonia’s Commercial Code which will abolish the requirement for a business and its board be physically located in Estonia, allowing Estonians and e-residents to run their businesses from abroad as well.
According to current law, both the company and its management board must be located in Estonia. Once changes to the Commercial Code take effect, it will be possible to run an Estonian business from abroad as well so long as a contact person such as a notary, lawyer or auditor in Estonia is specified, according to a Riigikogu press release.
Business-owners will likewise be required to submit their email address to the Commercial Register, the submission of which is currently voluntary.
The amendment will provide expanded opportunities not just for Estonian business-owners but for e-residents in particular. The aim of the e-residency project is to facilitate foreign business-owners' use of e-solutions offered by Estonia, including, among others, the opportunity to establish a legal person and participate in its managing body.
The amendment is to take effect in January 2018.
Editor: Aili Vahtla
