Estonia to allow registration of businesses on Internet in two hours in future
13:41, 17. august 2006
TALLINN, Aug 17, - If adopted by parliament, a bill drafted by the Ministry of Justice would make it possible to establish a business in Estonia in a couple of hours using online registration.
"The bill will make day-to-day procedures significantly easier for entrepreneurs," Viljar Peep, head of the service for self-employed and registers at the Ministry of Justice, said.
The new rules would make it possible to delete recalled members of a company's management board from the Commercial Register in a couple of hours instead of several weeks, as is the case now, Peep added.
In the sped-up proceedings, uniform statutes of association would be used instead of notarially attested statutes of association, the ministry said.
It will also become easier to obtain information about entrepreneurs from the Commercial Register, as the fields of business of a company will be relegated from the statutes of association into company accounts. Likewise, the bill would establish the legal basis for applying in Estonia of a prohibition on business imposed on a person in another country, the ministry said.
Initially the sped-up proceedings can be used to make first-time entries of private limited companies, private proprietors, general partnerships and limited partnerships, as well as amendments to the Commercial Register as regards private proprietors and companies.
The ministry is planning to expand the possibilities offered in sped-up proceedings in the future, such as by adding the authentication of foreign nationals.