Business advisory

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Audit and other assurance services
Corporate accounting and outsourcing
Payroll
Legal advisory
Business advisory
Financial advisory
Tax
Mergers and acquisitions
Human resources and recruitment services
Business risk services and internal audit
Sustainability services
Digital services
Starting business in Estonia?

Audit control is an integral part of each company’s control procedures required for gaining the trust of clients and partners as well as managing the company.

Other audit services
We help clients with the application and use of foreign financial aid of EU and other funds and help prepare financial reports.
Audit calculator
The calculator will answer if the company's sales revenue, assets or number of employees exceed the limit of an inspection or audit.

Corporate accounting and outsourcing

We offer full range of accounting and outsourcing services tailored to your needs.

Payroll and related services
We perform payroll accounting for companies whether they employ a few or hundreds of employees.
Tax accounting
Grant Thornton Baltic's experienced tax specialists support accountants and offer reasonable and practical solutions.
Reporting
We prepare annual reports in a timely manner. We help to prepare management reports and various mandatory reports.
Consolidation of financial statements
Our experienced accountants and advisors help you prepare consolidation tables and make the consolidation process more efficient.
Consultancy and temporary staff
Our experienced specialists advise on more complex accounting transactions, rectify poor historic accounting, and offer the temporary replacement of an accountant.
CFO services
Our CFO services suit companies where creating a CFO position would not be economically feasible, but professional financial leadership is still needed.
Assessment of accounting processes
We help companies to implement accounting practices that are in compliance with local and international standards.
Accounting services for small businesses
We offer affordable service for small businesses. We help organize processes as smartly and cost-effectively as possible.
Cryptocurrency accounting
We keep up with blockchain technology to serve and advise crypto companies. We are supported by a network of colleagues in 130 countries.
Trainings and seminars
Our accountants have experience in all matters related to accounting and reporting. We offer our clients professional training according to their needs.

Related insights:

Business Process Solutions Artificial intelligence shakes up the accounting sector: machines end up doing the easy work, while CFO skillsets are in high demand

5 min read | 11 Apr 2023

The rapid development of artificial intelligence and the arrival of ChatGPT on the scene will not leave accountants on the street, but there will be an increasing need to get in-service training, re-train and think more like a CFO does.

Payroll

We perform payroll accounting for companies whether they employ a few or hundreds of employees. We do not offer one-size-fits-all packages, but always proceed...

Related insights:

Our news We were recognized for long-term cooperation

Less than a minute | 10 Jan 2023

In the end of 2022, Grant Thornton Baltic received the Partner Excellence Award from its cooperation partner, the global business services provider ADP, for 15 years of excellent cooperation in payroll processing for ADP clients in the Baltic countries.

Legal advisory

We provide entrepreneurs with comprehensive legal advice to contribute to their economic success.

Business advisory
We offer legal support to both start-ups and expanding companies, making sure that all legal steps are well thought out in detail.
Fintech advisory
Our specialists advise payment institutions, virtual currency service providers and financial institutions.
Corporate advisory
We advise on legal, tax and financial matters necessary for better management of the company's legal or organizational structure.
Transaction advisory
We provide advice in all aspects of the transaction process.
Legal due diligence
We thoroughly analyze the internal documents, legal relations, and business compliance of the company to be merged or acquired.
In-house lawyer service
The service is intended for entrepreneurs who are looking for a reliable partner to solve the company's day-to-day legal issues.
The contact person service
We offer a contact person service to Estonian companies with a board located abroad.
Training
We organize both public trainings and tailor made trainings ordered by clients on current legal and tax issues.

Related insights:

Legal Amendment to the minimum share capital requirement in the Commercial Code: an apparent cause for cheer but practical concerns remain

Uljana Feldman

| 5 min read | 22 May 2023

On 1 February 2023, the new Commercial Register Act entered into force, ushering in significant changes to the Commercial Code and other laws regulating the activities of corporate entities. Among other things, the changes also concern the net asset requirement, related to one of the major changes – the removal of the requirement of minimum share capital for private limited companies.

Business advisory

Whether your company is just starting out, growing rapidly or in a stable stage of life - you need expert advice from time to time to make the right decisions.

Business model or strategy renewal
In order to be successful, every company, regardless of the size of the organization, must have a clear strategy, ie know where the whole team is heading.
Marketing and brand strategy; creation and updating of the client management system
We support you in updating your marketing and brand strategy and customer management system, so that you can adapt in this time of rapid changes.
Coaching and development support
A good organizational culture is like a trump card for a company. We guide you how to collect trump cards!
Digital services
Today, the question is not whether to digitize, but how to do it. We help you develop and implement smart digital solutions.
Sales organisation development
Our mission is to improve our customers' business results by choosing the right focuses and providing a clear and systematic path to a solution.
Business plan development
A good business plan is a guide and management tool for an entrepreneur, a source of information for financial institutions and potential investors to make financial decisions.

Financial advisory

Failure to provide sufficient attention to corporate development and financial planning may trigger difficulties.

Due diligence
We perform due diligence so that investors can get a thorough overview of the company before the planned purchase transaction.
Mergers and acquisitions
We provide advice in all aspects of the transaction process.
Valuation services
We estimate the company's market value, asset value and other asset groups based on internationally accepted methodology.
Forensic expert services
Our experienced, nationally recognized forensic experts provide assessments in the economic and financial field.
Business plans and financial forecasts
The lack of planning and control of cash resources is the reason often given for the failure of many businesses. We help you prepare proper forecasts to reduce business risks.
Business Intelligence and financial management
Analysing and making sense of numbers in financial reports enables a company’s management to identify new prospects of development and growth.
Reorganization
Our experienced reorganizers offer ways to overcome the company's economic difficulties and restore liquidity in order to manage sustainably in the future.
Restructuring and reorganisation
We offer individual complete solutions for reorganizing the structure of companies.

Tax

With more than 25 years of experience, our team offers wide range of tax services in close cooperation with colleagues from the Grant Thornton network.

Corporate taxation
We advise on all matters related to corporate taxation.
Value added tax and other indirect taxes
We have extensive knowledge in the field of VAT, excise duties and customs, both on the national and international level.
International taxation
We advise on foreign tax systems and international tax regulations, including the requirements of cross-border reporting.
Transfer pricing
We help plan and document all aspects of a company's transfer pricing strategy.
Taxation of transactions
We plan the tax consequences of a company's acquisition, transfer, refinancing, restructuring, and listing of bonds or shares.
Taxation of employees in cross-border operations
An employee of an Estonian company abroad and an employee of a foreign company in Estonia - we advise on tax rules.
Tax risk audit
We perform a risk audit that helps diagnose and limit tax risks and optimize tax obligations.
Representing the client in Tax Board
We prevent tax problems and ensure smooth communication with the Tax and Customs Board.
Taxation of private individuals
We advise individuals on personal income taxation issues and, represent the client in communication with the Tax and Customs Board.
Pan-Baltic tax system comparison
Our tax specialists have prepared a comparison of the tax systems of the Baltic countries regarding the taxation of companies and individuals.

Human resources and recruitment services

We offer to outsource the HR services in the exact amount and precisely in the section of work that you need.

Recruitment services – personnel search
We help fill positions in your company with competent and dedicated employees who help realize the company's strategic goals.
Recruitment support services
Support services help to determine whether the candidates match the company's expectations. The most used support services are candidate testing and evaluation.
Implementation of human resource management processes
We either assume a full control of the launch of processes related to HR management, or we are a supportive advisory partner for the HR manager.
Audit of HR management processes
We map the HR management processes and provide an overview of how to assess the health of the organization from the HR management perspective.
HR Documentation and Operating Model Advisory Services work
We support companies in setting up HR documentation and operational processes with a necessary quality.
Employee Surveys
We help to carry out goal-oriented and high-quality employee surveys. We analyse the results, make reports, and draw conclusions.
HR Management outsourcing
We offer both temporary and permanent/long-term HR manager services to companies.

Related insights:

HR management Sink or swim: well-organized HR work also gives a smaller company a competitive advantage.

Airi Neemre

| 6 min read | 13 Jan 2023

Employees are the greatest asset of any company, upon which competitive advantage is built - but they are also one of the largest cost factors. Every business leader should think about on whether we are doing all we can, to preserve this investment and whether we are making the most of our employees' potential.

Business risk services and internal audit

Our experienced specialists help your organization to regularly assess risks that threaten the fulfillment of goals.

Internal audit
We assist you in performing the internal audit function, performing internal audits and advisory work, evaluating governance, and conducting training.
Internal Audit in the Financial Services Sector
We provide internal audit services to financial sector companies. We can support the creation of an internal audit function already when applying for a sectoral activity license.
Audit of projects
We conduct audits of projects that have received European Union funds, state aid, foreign aid, or other grants.
Prevention of money laundering
We help to prepare a money laundering risk assessment and efficient anti-money laundering procedures, conduct internal audits and training.
Risk assessment and risk management
We advise you on conducting a risk assessment and setting up a risk management system.
Custom tasks
At the request of the client, we perform audits, inspections and analyzes with a specific purpose and scope.
External Quality Assessment of the Internal Audit Activity
We conduct an external evaluation of the quality of the internal audit or provide independent assurance on the self-assessment.
Whistleblowing and reporting misconduct
We can help build the whistleblowing system, from implementation, internal repairs and staff training to the creation of a reporting channel and case management.

Sustainability services

We advise companies who, in conducting responsible business, consider in addition to profit, the impact of their activities on the surrounding world.

Sustainability advisory
We help solve issues related to the environment, social capital, employees, business model and good management practices.
Sustainability audit
Our auditors review and certify sustainability reports in accordance with international standards.
Sustainable finance
We help investors to analyze the environmental issues, social responsibility and good management practices of the company of interest.
Sustainable tax
Our international tax specialists define the concept of sustainable tax behavior and provide services related to sustainable tax behavior.

Digital services

Grant Thornton Digital helps you develop and deploy smart digital solutions that lead your business into the future.

Digital strategy
We help assess the digital maturity of your organization, create a strategy that matches your needs and capabilities, and develop key metrics.
Intelligent automation
We aid you in determining your business’ needs and opportunities, as well as model the business processes to provide the best user experience and efficiency.
Business Intelligence
Our team of experienced business analysts will help you get a grip on your data by mapping and structuring all the data available.
Cybersecurity
A proactive cyber strategy delivers you peace of mind, allowing you to focus on realising your company’s growth potential.
Innovation as a Service
On average, one in four projects fails and one in two needs changes. We help manage the innovation of your company's digital solutions!

Related insights:

Case study We advised German company RAUMEDIC

2 min read | 13 Jan 2022

Grant Thornton Baltic OÜ advised German company RAUMEDIC AG on the acquisition of aktsiaselts A&G. RAUMEDIC AG is a leading developer and manufacturer of systems and components and a partner to medical and pharmaceutical industries. Core business of aktsiaselts A&G is production of medical supplies.

Whether your company is just starting out, is quickly growing or has already reached a stability phase – from time to time, it requires competent advice to make the right decisions.

We will do our utmost to provide thoroughly analysed information to serve as the basis for your decisions.

Grant Thornton Baltic’s business advisers will learn the nuts and bolts of your company and examine its financial indicators to provide valuable advice, and by doing so help to avoid mistakes in everyday operations and increase the value of the company in the long term.

Send us your inquiry

TESTIMONIAL

The work of the Grant Thornton Baltic team was very thorough, but at the same time concise. The work was completed on time and the clarifying questions were answered quickly. We used the services of Grant Thornton Baltic for the first time and we were very satisfied.

Priit Veering, Partner of BPM Capital OÜ

Business advisory

Business model or strategy renewal

In order to be successful, every company, regardless of the size of the organization, must have a clear strategy, ie know where the whole team is heading.

Coaching and development support

A good organizational culture is like a trump card for a company. We guide you how to collect trump cards!

Sales organisation development

Our mission is to improve our customers' business results by choosing the right focuses and providing a clear and systematic path to a solution.

Marketing and brand strategy; creation and updating of the client management system

We support you in updating your marketing and brand strategy and customer management system, so that you can adapt in this time of rapid changes.

Digital services

Today, the question is not whether to digitize, but how to do it. We help you develop and implement smart digital solutions.

Business plan development

A good business plan is a guide and management tool for an entrepreneur, a source of information for financial institutions and potential investors to make financial decisions.

Business model or strategy renewal

In order to be successful, every company, regardless of the size of the organization, must have a clear strategy, ie know where the whole team is heading.

Marketing and brand strategy; creation and updating of the client management system

We support you in updating your marketing and brand strategy and customer management system, so that you can adapt in this time of rapid changes.

Coaching and development support

A good organizational culture is like a trump card for a company. We guide you how to collect trump cards!

Digital services

Today, the question is not whether to digitize, but how to do it. We help you develop and implement smart digital solutions.

Sales organisation development

Our mission is to improve our customers' business results by choosing the right focuses and providing a clear and systematic path to a solution.

Business plan development

A good business plan is a guide and management tool for an entrepreneur, a source of information for financial institutions and potential investors to make financial decisions.

Lithuanian company EUGESTA aqcuired well-known Estonian coffee equipment vendor

Eugesta purchased KAFO Eesti OÜ

In spring 2019 Grant Thornton Baltic provided advisory services to Lithuanian company EUGESTA Latvian unit EUGESTA un Partneri SIA for purchasing KAFO Eesti OÜ. KAFO Eesti OÜ imports and distributes coffee and coffee making equipment in Estonia.

We advised EUGESTA un Partneri SIA in the following areas:

Conducting legal, financial and tax due diligence; advising the acquisition of business; advising the negotiations of the terms and conditions of the transaction; drafting the notice for merger clearance.

Our project team

Project was managed by Grant Thornton Baltic partner Eneli Perolainen, big contributions were made by our legal, tax and financial advisers Elis Vija, Aet Sallaste, Allan Kubu, Kristel Tiits, Sander Adamson and Mikk Mägi.

Grant Thornton Baltic advised investors who acquired ISS Estonia

ISS Eesti AS

SS Eesti AS is the largest facility management and technical maintenance services and second largest cleaning services’ company in Estonia, whose customers include retail chains, educational institutions and large office and production buildings.

Grant Thornton Baltic advised investors on the acquisition of ISS Estonia's business.

Grant Thornton Baltic's advisers conducted financial and tax due diligence to identify potential risks and threats to be taken into account in the negotiation of the transaction and in the share purchase agreement.

Our project team

Grant Thornton's team was led by partner in charge of advisory services and financial adviser Artur Suits, big contributions were made by our tax and financial advisers Sander Adamson, Ants Ansper, Mikk Mägi, Kaili Kallastu, Marko Rebane, Rain Roball and Christopher Roosla.

Case Study

We advised the management of Kilingi-Nõmme Economic Cooperative (Coop)

24 May 2023

Business advisory

Last season was crowned with success

28 Nov 2022

Business advisory

Last season was crowned with success

28 Nov 2022

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Tallinn, Estonia

Partner in charge of advisory services

Artur Suits

Tallinn, Estonia

Artur Suits has extensive knowledge and skills in both business advisory and auditing with over 20 years of experience in both fields. Artur works at Grant Thornton Baltic since 1996. He is a partner and member of the management board of the company. Artur is also a member of the Estonian Auditors' Association.

Learn more about Artur Suits

+372 626 0500

Contact Artur Suits

Contact

Call our Expert Contact Artur Suits

Business advisory Successful companies can adapt to changes; growing companies shape their own development.

Whether your company is just starting out, is quickly growing or has already reached a stability phase – from time to time, it requires competent advice to make the right decisions.

TESTIMONIAL

Priit Veering, Partner of BPM Capital OÜ

Business advisory

Business model or strategy renewal

Coaching and development support

Sales organisation development

Marketing and brand strategy; creation and updating of the client management system

Digital services

Business plan development

Business model or strategy renewal

Marketing and brand strategy; creation and updating of the client management system

Coaching and development support

Digital services

Sales organisation development

Business plan development

Lithuanian company EUGESTA aqcuired well-known Estonian coffee equipment vendor

Grant Thornton Baltic advised investors who acquired ISS Estonia

Sign up to get the latest updates by email

Find the Grant Thornton office closest to you

Business advisory Successful companies can adapt to changes; growing companies shape their own development.

Whether your company is just starting out, is quickly growing or has already reached a stability phase – from time to time, it requires competent advice to make the right decisions.

TESTIMONIAL

Priit Veering, Partner of BPM Capital OÜ

Business advisory

Lithuanian company EUGESTA aqcuired well-known Estonian coffee equipment vendor

Grant Thornton Baltic advised investors who acquired ISS Estonia

Sign up to get the latest updates by email

Related specialists

Find the Grant Thornton office closest to you