Company

  • What does OÜ and MTÜ, stand for and what are the differences between them?

An OÜ (abbreviated Osaühing), is a Private Limited Company that has its share capital divided into private limited company shares and must have a management board (one or more members), which means a directing body that represents and directs the company. The registered share capital of OÜ without immediate contribution can be in the range of €2500 and €25000. With immetiate contribution the share capital can be more than €25000.

If more than half of the board members do not reside in Estonia, the company must report a contact agent and address in Estonia (Virtual Office and Authorized Contact Person), as well as his/her residency country address and e-mail address.

A MTÜ (abbreviated Mittetulundusühing), is a Non-Profit Organization; charitable organizations that are based on voluntary individuals joined for the public interest. The MTÜ can enter into contracts with the Republic of Estonia and other legal and natural persons if it concerns necessary commercial and/or financial activities related to the MTÜ. The organization cooperates with the state, educational and cultural institutions, as well as other companies and organizations interested in activities of the MTÜ. This type of entity does not have share capital not shareholders. Highest management powers are held by its members.

Let your Sunny days begin, add to cart the Company Registration service and become a client!

We are happy to provide more detailed and personalized information to our registered customers. If you have an inquiry or want to register, please contact our agents at (corporate@sunnybusiness.ee).

  • Do I need to pay in the share capital while establishing my company?

According to the law the share capital for Estonian OÜ company is minimum €2,500. You do not have to deposit the share capital immediately if the founder(s) of the company are private individuals; you can deposit the share capital later at the bank or at the payment services institution within European Economic Area. Until the whole sum has been paid, the founders are personally liable for the missing contribution and must deposit it when company fiscal situation requires it.

  • When should I pay in the share capital if it was not paid at the time of incorporation?

Our standard terms for depositing the share capital is 10 years or when company fiscal situation requires it, whichever comes first. Note, that share capital contribution is required before distribution of profits (dividends) to shareholder. Also other contribution terms are available upon request.

  • What else should know about contribution of share capital?

Once the company has IBAN (international bank account number) opened either in the bank or payment institution within European Economic Community , the shareholer(s) should transfer their stake(s) of capital on the company bank account in Euros, with payment explanation as 'Share capital'. When all shareholders have paid their stakes, you should request the digital confirmation from the bank/payment institution on payments. We will then help you further on, to get the contribution of share capital registered at Estonian company register and to get the company compliant with requirements.

  • Can the share capital be later paid from the earnings of the company?

No. The share capital must only be paid by shareholder(s), that's why the company is called 'limited liability' - the liability of the shareholder(s) equals the amount they have contributed.

  • Can the share capital of the company be used for payments or withdrawals?

Yes. Company is not required to keep the funds of share capital on its bank account. It is allowed to make payments out of it for business related expenses, investments, loans, or keep it in cash.

We are happy to provide more detailed and personalized information when you’re already running your business with us. To register as a Sunny Business customer, please contact our agents at (corporate@sunnybusiness.ee).

  • When does my company’s fiscal year starts

Fiscal year usually starts from the immediate next month of when your company was established.

E.g.:  Company’s establishment date: August-18-2019

Company’s fiscal year: September-01 to August-31.

However, the fiscal year can be set with different 12 month period, as well as meeting the calendar year.

  • How should I choose the activity code of my company and can it be changed later?

When incorporating the company, only one activity code can and must be reported at the time of registration. This code should represent the activity that the company mostlikely will have mayority of the income from. The code will be adjusted if neccessary, at the time of each closing of the fiscal year with annual report/tax return. Activity code is based on NACE system,

  • Can company do business in more than one acitvity, and how the activity code should then be reported?

Yes. The same company can simultaneusly operate in various business fields with different acitvity codes. At the time of company registration just one activity code is reported, the one which is expected to have highes percentage of total activity. All activities with respective codes will be reported at the time of each closing of the fiscal year with annual report/tax return.

  • I just successfully received my e-Residency kit, and have my e-resident ID card and PIN codes, what is next for me to start operating my business?

To start operating your company, you will need to sign up for Virtual Office and Authorized Contact Person services, if you are not based in Estonia. You may also need help with bookkeeping, legal matters and business banking in Estonia and European Union. Luckily, we are good to help you with all of them!

Let your Sunny days begin, add to cart the Company Registration service and become a client!

We are happy to provide more detailed and personalized information when you’re already running your business with us. To register as a Sunny Business costumer, please contact our agents at (corporate@sunnybusiness.ee).

  • Why do I need Virtual Office and Authorized Contact Person services for?

Any Estonian registered company whose management is located outside Estonia, must appoint a licensed local agent (company) as an “Authorized Contact Person”. The address of your contact person will be an Estonian physical location and e-mail address of your company, where authorities and other parties can contact the company. The place of your company management must be reported separately, which usually is your office or home address.

Add your Virtual Office and Authorized Contact Person services to your cart and start operating your e-company!

  • What does Virtual Office services include? 99€/year

Address of correspondence, including digitalization, e-mailing and mail forwarding. Archiving of mail for up to 12 months, delivery of originals to designated location and basic secretary services.

Add your Virtual Office service to your cart and start operating your e-company!

We are happy to provide more detailed and personalized information when you’re already running your business with us. To register as a Sunny Business costumer, please contact our agents at (corporate@sunnybusiness.ee).

  • What does Authorized Contact Person services include? 199€/year

Authorized contact person, or licensed local agent, is mandatory for all companies with non-Estonian resident directors. Sunny Business is registered as an authorized and competent company to provide “Contact Person” services, which includes receiving official and procedural documents on behalf of your company, share and help you understand the content, immediately.
Authorized contact person is regulated and licenced service, which sets certain requirements for the agent offering the service. Among other requirements, the agent must comply with procedures of prevention of moneylaundering and -counter terrorism, it must follow 'know your customer' principles, etc.. Complying with these requirements takes resources, which are accounted into the service fee.

  • What is the number of our licence and can you have the copy of it for your records?

Sure. Our licence number is FIU000124. Licence Sunny Finants OÜ. Licence e-resident store OÜ.

Add your Authorized Contact Person service to your cart and start operating your e-company!

We are happy to provide more detailed and personalized information when you’re already running your business with us. To register as a Sunny Business costumer, please contact our agents at (corporate@sunnybusiness.ee).