Estonia: Reasons to invest
Arvo Lepik, Partner at HLB Expertus, member of HLB Euroasia Group
Here are three things you may not know about Estonia:
- Public transport is free of charge in the country’s capital, Tallinn.
- Estonia was the first nation to introduce a flat rate income tax system.
- Estonia is one of the highest rated market-based economies in the world – a friendly environment for foreign investment, with a no tax policy on reinvested corporate profits.
In fact, Estonia consistently ranks as one of the most open, competitive and transparent economies in the world. As a full EU and Eurozone member, Estonia increasingly serves as a base for pan-European activity. Estonia ranks 12th by ease of doing business in the world by The World Bank.
So what makes Estonia such a great base for investment?
- Situated on the Baltic Sea, with Finland to its north and Russia to its east, Estonia benefits from a unique location and culture combining Nordic roots and Russian influences.
- The country prides itself on its progressivism and openness. Estonia offers a highly progressive environment that offers an efficient way of doing business.
- Highly developed infrastructure that supports business development.
- Multilingual workers with world class skills. In the Industrial sector Estonians excel in engineering and electronics while in IT the country is a recognised leader in software development, high-tech systems and cyber security.
- Ultra-high IT usage across the economy, significant efficiencies, real-time data and flexible, scalable business models. Two-decade commitment to IT, Estonia is the world’s most advanced digital society and recognised leader in digital skills, infrastructure and legislation.
- E-residency system allows You to have control of Your business finances from wherever in the world
Reasons to invest in Estonia:
- Great opportunities in various business sectors
- Relatively easy and low cost establishing a company fully online and only in a few hours
- Relatively simple and stable tax system with 0% income tax on retained and reinvested profits
- Banking and lot of other services and possibilities for doing business easy and online, 99% of banking transactions are made online, Annual accounts are usually prepared and presented online, tax declarations and transactions are prepared and presented online.
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