As of February the 1th this year, the Commercial Code will change, and the new Commercial Register Act will enter into force. Below, we present some aspects that current and future business owners should keep in mind.
- The minimum share capital requirement of 2500 EUR for a private limited company shall be abolished. It shall not be possible anymore to establish a company without initial share capital contribution;
- The supervisory capacity of the Commercial Register registrar shall be improved;
- Starting from 01.03.2024, it will be possible to reserve a business name for six months and to apply for making an entry in the commercial register on a specific date with good reason;
- Starting from 01.09.2023, the data of shareholders of private limited companies shall be considered as registry card data, and the list of shareholders shall be maintained by the registrar of the Commercial Register.
More information can be found in this article (in Estonian) https://lextal.ee/ariseadustik-muutub/
The exact text of the Commercial Code and Commercial Register Act is located here:
If you have any questions, please get in touch with us on the contact page.