Accounting Service in Estonia
Monthly accounting service tarting from €99/month
The monthly accounting service minimum fee is 99 euros per month excluding VAT. Terms of Service apply.
Do I need a monthly accounting service?
An Estonian company must submit monthly VAT and payroll tax reports after registering for VAT and having first employees. It is best to have a professional accountant submitting your tax returns.
What is included in the minimum fee?
CoWorldHub keeps your books organized and handles up to 15 documents per month. Unicount will give you access to a cloud software for submitting all your expense documents and creating sales invoices.
How is it billed?
The monthly accounting service is a recurring fee charged automatically in the beginning of a new calendar month together with additional service fees for the previous month if any.
Annual accounts Starting from €199
Each Estonian company registered through CoWorldHub must submit its annual accounts by June 30. Terms of Service apply.
Do I need an accountant for annual accounts submission?
If your company has not been operational and did not generate sales revenue in the previous financial year, it is possible for e-resident members to prepare the annual accounts on their own.
What is included in the service?
CoWorldHub reviews all your documents and prepares your balance sheet along with the profit and loss statement. Additional reports may be required to ensure compliance with legal regulations.
How is it billed?
The annual accounts service is charged upfront via card payment or bank transfer after accepting the price quote for the agreed scope of work.
Frequently Asked Questions
How can I establish a company in Estonia without a digital identity?
If you do not have an Estonian digital ID card, Mobile-ID, or Smart-ID, you can physically visit a notary in Estonia to establish a company. here You can access a list of all notaries in Estonia here. Since the fees are regulated by law, all notaries charge the same price for company formation.
If you are unable to visit Estonia, you have the option of preparing a power of attorney to appoint a representative. This is a document that specifies who can represent you and for what purpose at the Estonian notary. As a founder of a company, it will be a very detailed document to fully express your intentions. If it is not in Estonian or English, it will likely need to be translated by a sworn translator in Estonia.
Unicount does not provide company formation services through a power of attorney, as it only offers online company formation services.
How long does it take to set up my company?
This depends on whether you have an Estonian digital ID. In most cases, obtaining the e-resident card takes about 6 to 8 weeks.
After picking it up from one of the collection points, setting up the company takes approximately 1-2 business days.
How can I establish a company with multiple shareholders?
CoWorldHub's online company formation service utilizes the Estonian Business Register API, which imposes a limitation of a single individual as the founder. This means our online formation service is not suitable for everyone wishing to establish a company in Estonia.
You can contact us to register a company through the E-Commerce Registry. If you want to learn how to register a company with multiple shareholders, you can ask us using this contact form.
What types of companies are there in Estonia?
In Estonia, there are two options for limited companies: OÜ (osaühing) and AS (aktsiaselts). An AS is typically used to register larger public companies with multiple shareholders. An OÜ, on the other hand, is most suitable for sole founders and smaller companies due to its lower share capital requirements and easy online formation process.
What would the annual cost be if the company does not generate any income?
Estonian companies can be registered even before starting commercial activities. This raises the question of how much it will cost to keep an inactive company in the registry.
f the following criteria are met, your annual expense can be exactly the annual virtual office and contact person fee of 179 Euros + 20% VAT:
If you do not have an accountant who receives the annual minimum wage.
There are no inactive accounts in Estonia, and you are required to declare the standard annual accounts by June 30 each year for the previous calendar year.
If you do not have a banking service that requires a monthly or annual fee.
If you have not applied for VAT or income tax registration in Estonia and have not received any penalties for late application.
There is no official fee that companies are required to pay annually for their good standing.
Does CoWorldHub provide representation services?
No. CoWorldHub does not provide representation services.
The services of "nominee director" or "nominee shareholder" that may be offered by other service providers to hide the owners and managers of Estonian companies are not in line with the values of the e-Residency program and Estonian legislation.
All Estonian companies are required to disclose their true owners and managers. This includes details of the beneficiaries (owners) of the shares.
What is the cost of establishing a company?
The company registration fee is 400 Euros, including VAT. This includes a state fee of 265 Euros excluding VAT and a Trade Registry fee of 25 Euros.
Please note that individuals who do not reside in Estonia (including e-Residency members) must have a registered office address and a legal contact person in Estonia. We offer these services packaged together for 99 Euros per year and 80 Euros per year, respectively. These services cannot be provided separately, and a 20% VAT will be added.
What kind of information is required in the company formation web application?
We need to know some personal details and your planned business activity in order to register a company.
The following are the minimum level of information required to meet the demands of the Estonian Commercial Register.
Personal details include the following:
Your full name (automatically read from your e-resident card certificate)
Your Estonian personal identification code (automatically read from your e-resident card certificate)
Your email address
Your phone number
Your residence address
The country of which you are a citizen
CoWorldHub will not disclose any of your personal information to third parties unless legally required to do so.
Public company details include the following:
Full name of the board member
Estonian personal identification code of the board member
Planned business activity (EMTAK code)
Share capital
Company email address
Company phone number (which can later be removed by a member of the company's board of directors)
Company address (for non-residents in Estonia, including e-Residency members, it must be CoWorldHub's address)
Contact person (if your company address is registered outside of Estonia, the contact person must be CoWorldHub)
What is the minimum share capital required for an OÜ?
The minimum capital required for an Estonian limited company (OÜ) is one euro cent.
No payment is required during the company registration process. Since the court does not require proof of capital deposit for amounts up to €50,000, the capital can be marked as paid.
Why do I need to subscribe to a virtual office with an address and a contact person?
A company in Estonia must have a contact person if it does not have a registered office address in Estonia or if it will be a tax resident in another country with a registered office address in a foreign country.
Unicount offers free company formation services only to founders who subscribe to our annual virtual office or contact person service. This is the only way we can cover our costs related to the compliance and operation of our web application service.