Management Board


Directors, board or management board


Directing body

A private limited company must have a management board. The management board is the directing body of the private limited company that represents and directs the business of the company. The management board may have one member (director) or several members. A member of the management board need not be a shareholder. A member of the management board must be a natural person with active legal capacity.


Place of residence

If the place of residence of at least one-half of the members of the management board is not in Estonia, in another Member State of the European Economic Area or in Switzerland, then the company must appoint a person in Estonia who has the legal right to receive official documents from the authorities. This person will be registered in the Commercial Register.

Salary

It is not obligatory to pay salary to members of the management board but if it is decided to pay, the amount of remuneration payable shall be determined by a resolution of the shareholders.