Foreigners can register company through a website

The Company Registration Portal can now be used to found companies by holders of Portuguese, Lithuanian and Belgian ID cards. Finland will soon join this list.

Minister of Justice Rein Lang says that this is probably the first time anywhere in the world that one country’s register has officially accepted the national ID cards of other [...]

Another bribe case discovered

Viru circuit prosecution sent a criminal matter to court, charging Agu Värimäe, head of Ida-Virumaa county environmental department, for demanding a bribe.
In January 2008 Värimäe demanded twice that a landowner should sell a piece of land, with an aim to join the land with his relative’s one.

In return the landowner would’ve gotten an accord to [...]

Vilnius Airport might stop serving FlyLAL from 2009

The management of Vilnius International Airport announced that flyLAL-Lithuanian Airlines’ passengers might not be served at the airport of the capital starting from 1 st January 2009.
During 2008 SE Vilnius International Airport met its contractual obligations with flyLAL-Lithuanian Airlines. However, settlements for the services provided during August and the following months in accordance with the Legal [...]

50 000 homes and plots on sale

 Real estate agencies say that the number of apartments and other housing on sale today is enough for years.
Postimees writes that the online real estate portal City24 alone offers 50,000 apartments, houses and land for sale.
In one year, price of apartments has fallen in all larger towns. The biggest fall was recorded in Narva where [...]

Exports increased by 13 percent in October

According to Statistics Estonia, in October this year compared to October 2007, exports of goods grew by 13% and imports declined by 3%.

The value of exports of goods was 13.2 billion kroons, which was 1.5 billion kroons more than in October of the previous year. The growth of exports was mainly caused by the increase [...]

PWC consultants suggest an exit tax

In BBN Taxblog PricewaterhouseCoopers’ consultants Erki Uustalu and Ain Veide are introducing interesting tax points.

The purpose of the exit taxation is to avoid the situations where for tax purposes, before receiving capital gains, the taxpayer changes his residence to a jurisdiction providing for a more beneficial tax treatment. In case of an exit taxation, the [...]

Apartments in Kiviõli are very cheap

Offer exceeds demand in a small town named Kiviõli, where one can by an apartment for EEK 20,000 (1,285 EUR), Tarbija24 quotes Eesti Ekspress.
7 sell-purchase transactions were made in Kiviõli during November, according to the Land Register, while cheapest of them was EEK 20,000 and the most expensive was EEK 250,000.
Averagely there are about 20 [...]

Tax burden in Estonia to go up sharply in 2009

Tens of new laws that will take effect in January will only increase people’s tax burden, not decrease it, writes Postimees.
Unlike in earlier years, there are no legal amendments entering into force this January that would have a positive effect on people’s finances. On the contrary, they will decrease benefits and push up taxes.
First of [...]

EU satisfied with money laundering prevention activities

At the Moneyval plenary meeting of the European Council from 8 to 12, the Minister of Finance successfully defended the report on the prevention of money laundering and terrorist financing which supports the successes and current activities of Estonia.
 
The final report passed at the Moneyval meeting is predominantly positive about the system for prevention of [...]

Kruuda expands his media empire

Kalev Meedia, the media arm of the candy maker Kalev that belongs to businessman Oliver Kruuda, has acquired a local radio station and a free newspaper.
The company said it had signed a contract to acquire 100 percent of Kullasadu Invest and Tartu Ekspress, writes Eesti Päevaleht.
Kullasadu Invest owns radio station Sun FM that broadcasts programmes [...]