Company Formation in Estonia

Estonia offers a unique digital residency programme — e-Residency. It provides foreign entrepreneurs with secure access to government electronic services and allows them to register and manage a company remotely. The e-Residency card is not a residence permit or citizenship, but it opens full access to Estonia’s digital infrastructure. With the e-Residency card, a digital resident can sign documents with a digital signature, submit applications to the Business Register, interact with tax authorities, and manage a company from anywhere in the world. The cost of obtaining e-Residency is EUR 150, and the card is issued within 2 to 5 weeks. The card can be collected at one of Estonia’s representations abroad.

To register a company in Estonia, the following documents are required: the memorandum of association and articles of association specifying the company name, registered office, share capital, and business activities; identity documents of the founders and board members (passports or identity cards); confirmation of a registered office in Estonia; an agreement with a licensed contact person (for non-residents); a resolution on the appointment of board members. With an e-Residency card, all documents are signed with a digital signature, eliminating the need for notarisation.

The cost of COREDO’s basic company formation package in Estonia (OÜ, one founder) is from EUR 1,680 + VAT. The package includes: company name verification and reservation, registration with mandatory state fees, a local contact person, articles of association and board minutes, and a certificate of incorporation. Registration is carried out remotely in six steps via a notarised power of attorney; the overall process from document preparation to incorporation typically takes 2–4 weeks, with the entry in the Business Register appearing within 3–5 business days after the notarial transaction. Additional services: remote registration package (POA drafting, translation, notary fees) — EUR 600, registered address — EUR 360/year, virtual office — EUR 450/month, e-Residency application assistance — EUR 540, bank account opening (online bank) — EUR 2,280, bank account opening (traditional bank) — EUR 4,680, local director services — EUR 2,880, VAT registration — EUR 600, EORI number — EUR 480, apostilled registration documents — EUR 900, accounting services — from EUR 135/month, business and legal consulting — EUR 300/hour.

After company registration, one of the key steps is opening a bank account. Traditional Estonian banks may require a personal visit for identity verification. However, the market offers a wide range of fintech solutions and payment institutions that serve e-residents entirely remotely. The choice of banking partner depends on the nature of the business, expected transaction volumes, and the geography of operations. COREDO helps clients find the optimal banking solution tailored to the specifics of their business. The cost of a contact person for non-residents is approximately EUR 200 to EUR 400 per year, depending on the provider and the scope of included services.