Business forms likely to be of interest to individuals looking
to establish in Estonia include the sole proprietorship, the
private limited company, and the general partnership.
New businesses often require the acquisition of an activity
licence; further details are available (in Estonian) here:
http://www.aktiva.ee/ . Registration with the Commercial register
is usually also required (sole proprietors have their operations
registered if they have registered as being liable for VAT).
In order to be placed on the Commercial Register, a petition
to this end must be submitted, and a notarial fee is payable,
plus a nominal stamp duty.
The red tape relating to sole proprietors is, in most countries,
less than that involved in incorporating, but self-employed
sole proprietors must nevertheless register with the local
tax centre of the Estonian Tax and Customs Board.
Private Limited Companies must submit their Memorandum of
Association and Articles of Association to the Commercial
Register. Details in the Memorandum should include the name
of the business, trading address, details of the founding
shareholders, amount of share capital and value of shares
and details of the management and supervisory boards.
Evidence is required that the required share capital has
been paid into an Estonian bank; the amount will vary according
to the type of company. Registration for VAT purposes (if
turnover is above the EEK250,000 (EUR16,025) threshold, or
is expected to be), and for the Central Sick Fund are further
required steps in order to establish a business in Estonia.
A general partnership is a type of business with two or more
partners and is governed by the terms of the partnership agreement.
Partners are liable in full for the obligations of the company.
There is no stipulated minimum capital investment.
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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