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Secure a Trust License in Estonia

Published:
July 5, 2024

According to Estonia trust law, a trust business is an officially established and commercially valid act of trust, by virtue of which a person or organization entrusts one or more assets (financial assets, real estate, etc.) to a trust company with the possibility of transfer, for further profit from them, for interaction with a certain object, either for the benefit of the principal himself or a third party. Carrying out such activities requires the mandatory presence of a trust license Estonia. Below we will consider the main nuances of this procedure and the principles of functioning of trusts in this country.

Our team is professional experts in the field of establishment management and business licensing in various commercial industries. We provide comprehensive trust services Estonia, and also offer options for ready-made trusts for sale.

Trusts in Estonia: regulation, licensing and further functioning

A trust involves various parties who have certain duties or powers, such as those listed below.

  1. Grantor: Sometimes he is also a beneficiary. This is a person who enters into partnership with a trust organization to distribute certain assets or rights to further a legal or other specific purpose.
  2. Trustee: This is the person responsible for administering the trust to achieve the goals of the grantor, that is, the trust firm and its representative office.

In a transfer of trust, certain assets are transferred to the trust company to manage or perform certain activities in accordance with the purpose and instructions specified in the agreement with the owner of the financial assets or property to be transferred.

Our company is ready to help you open a trust in Luxembourg, Latvia, Denmark, Germany, France and other countries. We have enormous knowledge and experience, which helps us achieve the most effective results for our clients.

So, how to get trust license in Estonia? In order to license a trust, several steps must be completed. The first is the establishment of a company at the local level. According to the Commercial Code of the Republic of Estonia, there are six ways to create business entities. Foreign investors have the same rights and obligations as resident investors or entrepreneurs. Before starting a company, it is important to evaluate and choose which type of company is most suitable for you from a legal and economic point of view. These aspects affect not only the amount of share capital required by law, but also the status and ownership of the company.

  1. When establishing a limited liability partnership, the minimum required share capital is CZK 40,000 (approx. EUR 2,556). The lowest nominal value of a share is 100 kroons. If the nominal value of a share exceeds 100 kroons, it must be a multiple of 100 kroons. A private limited liability company in Estonia cannot sell its shares publicly.
  2. An LLC may have one or more founders or shareholders. These may be individuals or legal entities. The founder can be a resident or non-resident person.
  3. The constituent documents must be certified and signed in the presence of a notary. All founders and directors must be present at the signing.
  4. The founders (or founder) of an LLC are not personally liable for the obligations of the company. Each shareholder is liable for the debts and obligations of the company to the extent of his contribution or acquired shares.

Speaking about trust license requirements Estonia, the following should be noted. An application for this permission can be submitted electronically with an electronic resident card when visiting a notary or by issuing a power of attorney to the representative. Trust license fees Estonia start from 3,000 euros. This amount must be paid to the Ministry of Finance of Estonia. RAB – the local authority for combating illicit circulation of funds – makes a decision within 60 working days from the date of submission of the application.

  1. Before applying, you must open a corporate account.
  2. The board of directors and legal address must be located and registered in Estonia.
  3. The presence of a resident director in the company is mandatory.
  4. After submitting the application, the KYC/AML Officer will be required to attend an interview with RAB to confirm their skills and suitability for the position.

To obtain trust license Estonia, you must provide the following information.

  1. Business contacts of managers and resumes.
  2. Location of service provision, including website address.
  3. Name, place of birth and residential address of the founder of the company.
  4. Fully-completed trust license application Estonia.
  5. Internal control procedures regarding the prevention of illegal circulation of funds.
  6. If the entrepreneur, board member, trustee or beneficial owner is a foreign citizen, a police clearance certificate from the country of origin or other similar document declaring no criminal record is required for a crime against the government or other intentional illegal actions.

Advantages of a trust license in Estonia

  1. A progressive business environment that can be a decisive step towards success and growth in the European market.
  2. The strategic location provides access to Western and Eastern European markets, increasing the potential for international trade and expansion.
  3. The Estonian tax system is simple and welcoming of innovation for business. Corporate income tax applies only to distributed profits, which provides a beneficial basis for reinvestment and business growth. This approach significantly increases financial efficiency and investment potential, positioning Estonia as a financially viable choice for both entrepreneurs and investors.
  4. Estonia offers entrepreneurs a digital identity program for non-residents, allowing them to set up and manage an EU company entirely online without the need to physically move.
  5. Estonia is also thriving as a center for technological innovation, with a strong IT infrastructure and highly skilled workforce. The country has a strong start-up culture, supported by both the government and the private sector, which encourages active collaboration and engagement of progressive elements.

Our team is ready to become your reliable allies on the path of your commercial development, providing professional trust services Estonia. Thus, trust license cost Estonia is calculated individually for each client before starting cooperation. We also offer ready-made licensed trust options in Hong Kong, China, India and worldwide. Contact us right now.

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