Dear reader,I am proud to present the Estonian Export Directory, a comprehensive overview of doing business in Estonia and with Estonian companies.
Estonia has been a trading nation throughout its history. Our trading roots go back to the Middle Ages when Tallinn and Tartu were the focal points of the North European Hanseatic trade route. Walking around our capital city’s UNESCO-protected historic Old Town, one can spot signs of our merchant roots everywhere.
Since restoring our independence in 1991, Estonia has stayed true to the principles of an open and free market and pro-business economic environment. Our tax system is easy to understand with 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. Recognising this, the Tax Foundation honoured us in 2015 as the most competitive tax system among the OECD countries. The World Bank’s Ease of Doing Business report ranked us at 16 this year, next to Germany, Canada and just before Ireland. The World Economic Forum’s Global Competitiveness Index placed Estonia in the top 30 of the most competitive economies globally, highlighting us as forerunners in aspects such as flexibility of wage determination and trade tariffs.
Estonians value punctuality, transparency and honesty. With our Scandinavian business culture and German work ethics, the Transparency International’s perceived corruption index puts Estonia at bar with the likes of France and Austria. We are also proud to have some of the highest international credit ratings in the region. Combined with Estonia’s highly skilled work force, I believe that each of you can and will find from Estonia a trustworthy business partner who delivers high quality products or services.
Estonia is also known as one of the most innovative countries in the world. Over the course of the last 20 years, we have invested heavily into digital infrastructure to keep the administrative burden on our people as low as possible. Here you can establish a company online with a few easy steps; compile and file tax reports in a matter of minutes; sign all documents electronically and instantly in a legally binding way; almost all banking matters are conducted online; etc.
Last year we introduced a concept of e-residency, with an aim to make doing business in Estonia easier and simple for all, just as it is enjoyed today by the Estonian residents. Through e-residency, you can apply for a digital identity that allows you as a non-Estonian citizen to start and run an Estonian company easily, thoroughly and securely without unnecessary administrative costs.
Whether your business needs lie in the field of electronics, information technology, world-class pianos, wooden houses or the many other industries between, I am confident that you will find an array of excellent partners from Estonia. And, of course, as a border state of the European Union located in the middle of east and west, north and south, with its good quality harbours and transportation infrastructure, Estonia is an excellent place to navigate your logistics.
Welcome to Estonia!
Taavi Rõivas, Former Prime Minister of the Republic of Estonia
QUICK FACTS ABOUT ESTONIA
Head of State: President
Government: Parliamentary Republic
Area: 45,227 km²
Population: 1.311 million
National Day: Independence Day, 24 February
Welcome to the best country in the world!
According to a survey conducted by the Tax Foundation (based in Washington, D.C.) in November 2014, Estonia has the most competitive tax system among the OECD members. Being proud of our own achievement is one thing, another thing is if someone else values it, too.
The foundation analysed over 40 variables related to tax policy, divided them into five categories and ranked all the 34 OECD member states according to their scores in each category. Estonia ranked 1st in the Corporate Tax Ranking and Property Taxes Ranking, and came 2nd in the Individual Taxes Ranking and 9th in the Consumption Tax Ranking.
Every businessman knows that taxes are a crucial component of a country’s international competitiveness. Although it is not the only component that is being considered, but still a very important one. In today’s globalised economy, the structure of a country’s tax code and tax regime are important factors for businesses who are faced with the questions where to invest and where to do business permanently. Understanding how taxes are paid, what is taxable and what is not is important to avoid risks. You need a tax advisor for keeping your risks lower in most countries, whereas in Estonia we manage keeping the risks low even without any outside consultancy. What an amazing system that is!
The cornerstones of Estonian development are openness, liberal economic policy and proportional tax system with 0% tax on reinvested profits. Very few countries in the world can offer the same to entrepreneurs. Many international organisations such as World Bank, World Economic Forum, The Heritage Foundation and others have acknowledged Estonian economy as very open and competitive. And according to Transparency International the corruption rate is also very low (26th of 175 countries). What more could one wish? Estonia could be considered a Nordic Switzerland with no mountains or Scandinavian Singapore with more space and nature.
I am glad that you are holding in your hands the most comprehensive and oldest export directory in Estonia. In the Estonian Export Directory you will find the most diverse selection of reputable Estonian companies that are looking for new export partners or connections with companies who are looking for serious partners in Estonia. You have come to the right place!
In the current 2015 edition features more than 1,000 active companies with up-to-date contact information. If you cannot find your match here ask us – the Estonian Chamber of Commerce is always willing to help you and expand your possibilities.
We welcome you to do business in Estonia!
Estonian Chamber of Commerce and Industry