The EACC is partnering with the embassies of Latvia, Lithuania and Estonia to host a “” trade and investment seminar on September 25, 2018 ( ). To prepare for the event, we asked the local Honorary Consuls to provide “country snapshots” showcasing the business opportunities in each of the three states. Please find the provided Estonian country overview below.
Estonia has quickly become one of the best places in the world for running a business. The cornerstones of Estonian economic growth are entrepreneurship and exports. That is why the state contributes to creating an attractive business environment, and has pared bureaucracy down to a bare minimum and facilitated an environment where business is easy, while also secured with blockchain technology. From starting a company to declaring taxes to filing annual reports -- you can do it all without leaving your couch. It is a simple fact – where business is easy, business will grow.
Often referred to as the most advanced digital society in the world, Estonia is first in the world in many things such as first e-governance, first nationwide electric vehicle charging network, and first nationwide Internet voting.
Going digital has allowed Estonia to punch beyond its size and weight, as a state and as an economy. It has led to a strong ICT sector and start-up industry. It is no coincidence that Estonia also has one of the highest rates of startups per capita in Europe. The Estonian start-up nation likes to challenge the status quo and change the way people do things with samples such as Transferwise, Guardtime, Skype, Cybernetica and many others.
The Estonian tax system is simple and cheap to administer. There is a flat income tax rate of 20% that is only applied to distributed corporate profits. It exempts 100% of the foreign profits earned by domestic corporations from domestic taxation, with few restrictions.
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*Data and information provided by the Estonian Embassy in Washington