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Estonia business environment
Doing business in Estonia
KEY FACTS

Estonia, a 2004 European Union entrant, has a modern market-based economy and one of the highest per capita income levels in Central Europe. Estonia’s successive governments have pursued a free market, pro-business economic agenda and have wavered little in their commitment to promarket reforms. (CIA World Factbook)

Currency: EEK
Key exchange rates:
Interest rate: 1%
Current inflation: 10.4%
Inflation target:
Tax rate: 18%

Major Estonian owned companies:

Eesti Energia
Eesti Energia is a state-owned company engaged in the production, sale and transmission of electric and thermal power. The main raw material for energy production – oil shale – is extracted from mines owned by the company. Eesti Energia is also involved in the construction and maintenance of energy systems.
Eesti Telekom
AS Eesti Telekom is a holding company registered and operating in the Republic of Estonia, whose subsidiaries provide telecommunications and IT services.

FIRST STOP
Banking
»
Bank of Estonia
Eesti Pank is the central bank of the Republic of Estonia that operates the Estonian monetary system, i.e. conducts the national monetary policy. The mission of Eesti Pank is to ensure price stability in Estonia.
»
Swedbank
Swedbank AB is a leading Nordic-Baltic banking group with 8.8 million retail customers and 441,000 corporate customers in Sweden, Estonia, Lithuania and Latvia.
Legal
»
Lepik & Luhaäär LAWIN
The aim of Law Office Lepik & Luhaäär LAWIN is to offer high quality legal services in accordance with international standards to its clients and enable them to get top level assistance in matters related to all fields of law.
»
Raidla Lejins & Norcous
The firm of approximately 35 lawyers renders comprehensive legal services to local, regional and international legal entities, including multinational enterprises, international banks and financial institutions.
Accounting
»
Rödl & Partner
The philosophy of Rödl & Partner lies on a strong company culture, that being a prerequisite for providing a complete and high quality offer of services irrespective of country or office.
»
P&M Accounting
P&M Accounting OÜ is an auditing and accounting bureau established in September in 1998. Clients include firms, nonprofitmaking organisations, foundations, government structures and physical person entrepreneurs.
Arbitration
»
Arbitration Court
The Arbitration Court of the Estonian Chamber of Commerce and Industry is a permanent court of arbitration established by the Estonian Chamber of Commerce and Industry for the settlement of disputes arising out of contractual and other civil law relationships, including foreign trade and other international economic relations. It is a non-governmental institution.
EUROPEAN BUSINESS ENVIRONMENT OVERVIEW
The full list of the EU member states

Special Feature
Recession survival: keeping your business afloat
The steps your business can take to fight the economic downturn.
EU member focus
Belgium
This modern, private-enterprise economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. With few natural resources, Belgium must import substantial quantities of raw materials and export a large volume of manufactures, making its economy unusually dependent on the state of world markets. Roughly three-quarters of its trade is with other EU countries. (Source: CIA World Factbook)













Estonia

Flag

Map
Capital: Tallinn
Official languages: Estonian
Government: parliamentary republic
EU accession: 2004
Area: 45,227 km2
Population: 1,307,605 (July 2008 est.)
Internet TLD: .ee
Calling code: +372


EUROCHAMBRES
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.

Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
http://www.eurochambres.eu
ESTONIA CHAMBER OF COMMERCE
The mission of the Estonian Chamber of Commerce and Industry is to develop entrepreneurship in Estonia. The ECCI provides several business-related services – consultation (legal, foreign trade, EU-related), business match-making (trade missions, trade fair visits, presentations), information services (business contacts, co-operation proposals etc.), training and foreign trade documents.

Currency data courtesy coinmill.com