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Prosecuting offenders will be easier and the penalties will be bigger in the future
Administrative fine Prosecuting offenders will be easier and the penalties will be bigger in the future
A new concept in Estonian legal system, administrative fine, was sent to coordination round to the relevant ministries by the Ministry of Justice. The new fine would enable a more effective response to violations of financial services, competition and data protection regulation in the future. Grant Thornton Baltic data protection officer Maili Torma and legal adviser Lee Laanemäe write about the potential changes awaiting us in the near future.
19 Jun 2020
New paternity leave system comes into effect from 1 July
Paternity leave New paternity leave system comes into effect from 1 July
The state is changing the parental leave and benefits system once again and starting from the 1st of July 2020, the paternity leave will increase from 10 to 30 calendar days. Grant Thornton Baltic legal adviser Edward Otsa is opening the subject further.
20 May 2020
Legal The debtors are not obliged to submit bankruptcy petitions in the coming months
The amendment of Bankruptcy Act entered into force, where the commencement of the term of the obligation to submit bankruptcy petition shall be suspended for the time of emergency situation due to coronavirus and two months thereafter. Aet Sallaste, head of legal services in Grant Thornton Baltic explains who are concerned by the amendment of the Bankruptcy Act.
20 May 2020
Remote authentication – a possibility to carry out a notarial transaction from home
Transaction advisory Remote authentication – a possibility to carry out a notarial transaction from home
On February 1st 2020, remote authentication was introduced for notarial transactions, which is equivalent to ordinary notarial authentication, i.e. authentication in the presence of a notary. Remote authentication as an innovative solution is a notarial act conducted via a video bridge between Estonian notary and an Estonian or an e-resident. Grant Thornton Baltic legal adviser Brigitta Jõgi opens the subject further.
14 May 2020
The minimum nominal value of a share in private limited company shall become one cent
Legal The minimum nominal value of a share in private limited company shall become one cent
From the 1st of July 2020 the changes of the commercial code state, that the minimum nominal value of a share is one cent instead of one euro, with the result that every cent of the share capital shall grant the shareholder one vote. Grant Thornton Baltic legal adviser Brigitta Jõgi explains the subject further.
30 Apr 2020
How to organize a general meeting of shareholders regarding to COVID-19?
Legal How to organize a general meeting of shareholders regarding to COVID-19?
Only a few companies have included an option of a virtual shareholders’ general meeting – e.g. using an instant messaging service or electronic voting application. Grant Thornton Baltic legal manager Kristel Tiits explains how to rectify this situation.
Kristel Tiits
Kristel Tiits
| 28 Apr 2020
Grant Thornton Baltic saade Kasvukursil Äripäeva raadios
Labor law There are opportunities for labour cost savings
The government aid measures to alleviate the corona crisis have become rather confusing for entrepreneurs. According to Äripäev's radio program "Kasvukursil", there are in fact several ways for labour cost savings. In the studio were legal manager Kristel Tiits, HR manager Marge Litvinova and IT manager Arko Kurg from Grant Thornton Batic.
14 Apr 2020
Is the emergency situation a force majeure, which exempts from fulfilling contracts?
Crisis management Is the emergency situation a force majeure, which exempts from fulfilling contracts?
Estonia has been in a state of emergency for a month now, which has limited the work and regular routines of businesses and individuals alike. Sports clubs and entertainment centers are closed, and people are forbidden to visit shopping centers. Accordingly, businesses experience many disruptions in their usual business routines and activities. Under certain conditions, it is possible to rely on § 103 (2) of the Law of Obligations Act (hereinafter LOA), which establishes force majeure. Grant Thornton Baltic legal adviser Brigitta Jõgi explains when force majeure can be applied to the situation.
14 Apr 2020
How to apply for employee benefits from temporary subsidy program?
Labour law How to apply for employee benefits from temporary subsidy program?
A subsidy to employees affected by the COVID-19 crisis was established by order of Estonian Government from March 23rd, 2020 „Employment program 2017-2020 . To apply for the employee subsidy the employer must meet 2 out of 3 requirements. What are those requirements and what action must employer take? Grant Thornton Baltic legal adviser Lee Laanemäe and legal manager Kristel Tiits explain the subject and give recommendations for further steps.
13 Apr 2020
Latvia and Lithuania: government support for businesses affected by COVID-19
COVID-19 in Baltics Latvia and Lithuania: government support for businesses affected by COVID-19
Grant Thornton Baltic specialists give an overview of the most important decisions and measures concerning the current crisis taken in Latvia and Lithuania.
30 Mar 2020
Surety and loans from KredEx
Crisis management Surety and loans from KredEx
To improve liquidity, KredEx has developed crisis measures. It should be remembered that a company intending to use KredEx measures should first contact their home bank. Grant Thornton Baltic legal manager Kärolin Rohumäe explains what companies should do to be able to apply for the KredEx crisis packages.
30 Mar 2020
Who ensures that remote workers have a healthy working environment?
Labor law Who ensures that remote workers have a healthy working environment?
During the emergency situation in Estonia, many employers have allowed some or all their employees to work from home. Allowing people to work from home cuts the risk of contracting the virus, but also raises the question of who is responsible for providing a safe and healthy work environment for the employee. Kärolin Rohumäe, Grant Thornton Baltic's legal adviser, explains in more detail.
29 Mar 2020
Who and under what conditions receive unemployment benefit?
Legal Who and under what conditions receive unemployment benefit?
Temporary subsidies from the Unemployment Insurance Fund will be paid to those employees who are working under an employment contract and whose employers are significantly impacted by the current extraordinary circumstances. Grant Thornton Baltic advisors can help you assess whether your company qualifies for this measure, draw up the staff documents necessary to apply for the subsidy and assess the necessity and scope of applying for the subsidy.
25 Mar 2020
What can employers do to minimize losses from coronavirus?
Labor law What can employers do to minimize losses from coronavirus?
Estonia declared a state of emergency (defined in national law as “emergency situation”) on 12 March 2020 and this affects the rights and responsibilities arising from employment relationships. What steps can an employer take to slow the spread of the virus while keeping the work processes flowing, and what are an employee’s rights to refuse to come to work? Grant Thornton Baltic specialists Kristel Tiits and Lee Laanemäe give overview and suggestions on how to best deal with the current situation.
Kristel Tiits
Kristel Tiits
| 18 Mar 2020
How to protect copyright in employment relationships?
Intellectual property How to protect copyright in employment relationships?
In simple terms, copyright is the right over intellectual property. Copyright is gained automatically and requires no separate registration or other completion of formalities. Grant Thornton Baltic specialists Kristel Tiits and Lee Laanemäe are explaining the details in depth in their article.
17 Mar 2020
Important fact to remember when selling your shareholding in a company
Transaction advisory Important fact to remember when selling your shareholding in a company
In most countries, including Finland, Norway and Denmark, there are no form requirements for a sales contract of a share, yet Estonian law requires the contract to be notarised. Only if the company’s shares are registered in the Estonian securities register (hereinafter EVK) can the notarisation requirement be waived.
19 Feb 2020
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