Amendments to the Commercial Code will come into force, according to which it will no longer be possible to establish a private limited company without contributing the share capital.
The share capital may be set in the articles of association as small as EUR 0.01 for registering of new private limited company, hence the liability of shareholders to creditors remains limited to the former minimum capital threshold i.e., EUR 2,500.
The establishment of company by non-residents of Estonia has been made more complicated because they need to open a bank account and pay in share capital (at least 1 eurocent) before submitting of a petition to Commercial Register. Alternatively, Commercial code allows to register a new company with contribution in kind which is cover share capital nominal value.
Please contact our advisers for consulting and assistance in establishing a company without monetary contribution.