What is the company registration timeframe?
What is required for the company registration?
How to start the cryptocurrency company?
What are the company registration costs?
What are the accounting costs?
What are the costs for crypto license(s)?
Are the companies registered by KRM Advisor clean and empty?
Companies are specially created
All companies are specially established with the purpose to transfer them to clients who want to do business with an Estonian company.
Companies are in good standing
These companies are in good standing and have not commenced in any business activities in the past (except payment of 2500 EUR share capital and usually taking it out to cash position).
Companies are fee of liabilities
We also confirm the absence of off-balance sheet liabilities in the notarized share sales contract.
Balance sheet at the moment of transfer
assets in all
equity capital in all
liabilities in all
Account entries before the balance
clearing with shareholders
clearing with shareholders
cash on hand, (bank)
What is the difference between founder, owner and director?
Founder of the company
As a rule the founder is a person (legal or private person) who is the first owner of the company at the moment of incorporation. Therefore the founder of the company never changes as the first owner(s) is always called founder(s).
Owner of the company
When the first owner (founder) transfers the share to somebody then the founder is not the owner any more, can not act as a shareholder nor control the company. Hereinafter only the current owner has full control over the company and only he can appoint board member(s) (also called board of directors).
Board member (director) of the company
As a rule only board members are lawful representatives of the company. However in small companies usually owners appoint themseleves as board members and therefore it seems that owners (shareholders) can represent the company. If owners (shareholders) are not board members they can only represent the comapny if the board member issues them a Power of Attorney (POA). A shareholder (owner) who is not a board member exercises its rights only at the general meeting of shareholders.
Questions and Answers
What kind of commercial activity may a company have?
An Estonian company may have any commercial activity that is not prohibited by law.
The Estonian company articles do not mention company activities. It means that every activity that does not require special registration or licence is automatically allowed.
May a company have bank accounts outside of Estonia?
Yes, an Estonian company may have many bank accounts in the same bank or in different banks in Estonia or outside of Estonia.
Can anybody be the director of an Estonian company?
A member of the management board (director) must be a natural person with active legal capacity. If the place of residence of at least one-half of the members of the management board is not in Estonia, 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. KRM can act as a receiver of official documents.
Is it required to pay salary to the management board member?
It is not obligatory to pay salary to members of the management board but if decided to do so, the amount of remuneration payable shall be determined by a resolution of shareholders.