An Estonian company’s management board must notify the Commercial Register of its ultimate beneficial owners (UBOs) within 30 days of any change and every time they submit an annual report. UBOs can be declared either through a notary or by the management board members themselves via electronic company portal. Failure to do so may carry […]
The crisis has forced lawmakers to act promptly and introduce a wide array of new electronic options for companies to organise their business. While these new options often reduce the red tape burden for management board members, their most important duty – to act in the best interest of their companies – remains as important […]
The Estonian parliament (Riigikogu) began processing a draft law submitted by the Ministry of Justice which allows the governing bodies of all Estonian companies to entirely or partly pass resolutions by way of both digital and physical meetings. In addition, all the highest governing bodies of companies will be able to vote without convening physical […]
Our partner and labor law specialist Karin Madisson and counsel Pirkko-Liis Harkmaa recommend that employers whose companies are not doing so well in the current special situation should not take such extreme measures quickly. Read more in Estonian.
As of 03 April 2020 State resources are directed to supporting companies through the KredEx Foundation and the Estonian Rural Development Foundation. The package also includes labour market support from the Estonian Unemployment Insurance Fund, sickness benefits and tax incentives. The package allows for temporary suspension of second pillar pension scheme payments, as well as […]
