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The return of a contribution upon founding a private limited company
Company set up in Estonia The return of a contribution upon founding a private limited company
A private limited company in Estonia can be founded with or without making a contribution. Only individuals have the option of starting a company without making the contribution. Legal persons setting up a private limited company must always make a contribution, either monetary or non-monetary.
08 Nov 2019
What happens if a company gives a loan to a board member or shareholder?
Commercial Code What happens if a company gives a loan to a board member or shareholder?
A situation where a company gives or guarantees a loan to a shareholder, partner or board member comes up all the time. Yet the Commercial Code does set out restrictions on granting loans. I will discuss some of the most likely problems and potential tax risks below.
06 Jun 2019
Obligation to disclose data regarding beneficial owners
Money Laundering and Terrorism Financing Prevention Act Obligation to disclose data regarding beneficial owners
From the 1st of September 2018, all Estonian companies will be required to submit data on their beneficial owners to the Commercial Register of Estonia.
Kristel Tiits
Kristel Tiits
| 16 Aug 2018
Changes to be introduced to resolution of labor disputes
Labor Dispute Resolution Act Changes to be introduced to resolution of labor disputes
On 1 January 2018, a new Labour Dispute Resolution Act (hereinafter referred to as TVS by its Estonian acronym) will enter into force, supplanting the Individual Labour Dispute Resolution Act (hereinafter ITVS) in force up to 31 December.
Kristel Tiits
Kristel Tiits
| 06 Dec 2017
Estonian BMW dealership changed hands
Case study Estonian BMW dealership changed hands
Grant Thornton Baltic advised the sale of AS United Motors vehicles retail business in Estonia. BMW and KIA vehicles retail business, vehicle parts and accessories retail business, maintenance and repair of motor vehicles in Tallinn, Tartu, Pärnu and Kohtla-Järve were sold to Inchcape Motors Estonia OÜ. GTB advised the seller AS United Motors on legal, financial and tax due diligence performed by the buyer, and carrying out the transaction. GTB had a remarkable role in negotiating the terms and price of the transaction.
16 Jun 2017
Attention, management board members
Health insurance Attention, management board members
Starting this year, some important changes to the health insurance system took force, and thus those serving as management board members and working on the basis of contracts under the law of obligations (authorisation agreements, contracts for services etc) should pay attention to the issues relating to activation and suspension of health insurance coverage.
Kristel Tiits
Kristel Tiits
| 13 May 2016
Management board member agreements and employment contracts
Labour law Management board member agreements and employment contracts
Management board member agreements and employment contracts
Kristel Tiits
Kristel Tiits
| 11 May 2016
Protection of business secrets
Business secrets Protection of business secrets
Compared to agreements on competition restrictions, the obligation to keep business secrets has not been dealt with as widely, yet it needs significantly more coverage. In this article, the author deals with the various nuances related to business secrets, defines business secret and discusses why keeping business secrets is important for every company.
Kristel Tiits
Kristel Tiits
| 04 Aug 2015
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Companies' equity Commercial register scrutinises companies' equity
Financial year 2014 is coming to and end and it is time to start thinking about filing annual reports to the Commercial Register. Businesses should be aware that the Commercial Register is devoting increased attention to whether companies’ equity meets legislative requirements.
09 Jun 2015