ADVANTAGES OF USE OF FIRMS IN ESTONIA AS AN ALTERNATIVE TO OFFSHORE COMPANIES

Any operating company shall pay taxes. Therefore tax planning is a part of work of each company. However many people do not know the ways of legal optimization of tax payments, although they exist and help many businessmen. One of the ways is the use of offshore companies. Recently the use of such schemes has become problematic due to increased attention on the part of controlling and tax bodies and impaired attitude to all offshore "schemes".

However not many know that there are options to establish a European company in a "white" list country and use it in fact as offshore harbor on absolutely lawful bases.

From May 1, 2004 Estonia is a member of the European Union; at the beginning of 2011 it officially became a part of the Eurozone.

Nowadays Estonia is open for attraction of foreign capital and it makes the country very convenient for resolution of multiple problems such as protection of assets, reduction of tax burden, purchase of European assets on a common basis as for European residents, entry into the European markets on behalf of a European subject etc.

Estonian companies are entitled to European VAT and EORI.

Since 2000 the profit tax rate in Estonia has been 0% if the legal entity's profit is not distributed. No matter if the profit is made in Estonia or any other country, it is not subject to tax. It is reinvested and used for various economic activities of the company, e.g. for repayment of loans. Taxes are not transferred and fiscal payments are not required until the profit is used to pay the dividends.

Moreover, a founder of an Estonian company can be both an individual and a legal entity. This fact facilitates the registration process and provides the greater number of businessmen with the opportunity to use the firm, organized in Estonia, for successful tax planning.

Estonian banking system is well-developed and allows opening of any types of multicurrency accounts, escrow accounts, receiving all types of bank cards; moreover many banks offer personal bank manager services in Russian.

BASIC INFORMATION ON ESTONIA:
Capital
 
Tallinn
Population
 
1 286 000
GDP per capita
 
25 161 USD
Profit tax
 
0%
Personal income tax by profit distribution
 
21%
Uniform social tax on salary
 
33%
Dividend tax
 
0%
The specialists of our company will be glad to offer you the whole range of services and consultations on optimization of your company taxation and to find the proper solution of your problem.
+7 91500070 20
+7 910 0007020

 

Company registration including all state duties EUR 500
Notarial services included in the price
Contact person in the company included in the price
Legal address EUR 50/month
Accounting services EUR 50/month
Bank account opening EUR 200
Obtaining the owner tax number not required
Company VAT number upon request
Размер уставного капитала EUR 2,500
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Estonia

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Location

  • Baltic region of Northern Europe

Capital

  • Tallinn

Difference

  • UTC +2

Total area

  • 45227 sq. km

Language

  • 68.7% Estonian 25.1% Russian 1.7% Ukrainian 0.8% Belarusians 0.5% Finns 2.8% others

Goverment type

  • Parliamentary republic

Currency

  • Euro (EUR)