Doing business in Estonia will become even easier. In addition to the fact that an Estonian company has the right to open and use an account in any bank belonging to the same economic region, to make an official share capital contribution there (also applies to so-called virtual accounts), the requirement for a share capital contribution will also change from February.

From 01.02.2023, an amendment to the law will apply in Estonia, which will abolish the requirement for a minimum share capital contribution of 2,500 euros. From now on, the founders and shareholders will decide the amount to be paid into the share capital to start operations. The share capital must be at least 0.01 cents.

However, this law does not change the existence of liability, and a provision is added to the bankruptcy law that company shareholders are liable for up to 2,500 euros in bankruptcy proceedings.