Management must be physically located in the country

The Estonian government approved a proposal on Dec.1, 2016, made by Minister of Justice Urmas Reinsalu in connection with Estonia’s e-residency project, to repeal the requirement that the management board of a company registered in Estonia must be physically located in the country. The change is to take effect in January 2018.

The law will create the opportunity to manage businesses registered in Estonia from abroad. In such situations, however, the company would have to specify a contact person through which a connection to Estonia would be preserved, spokespeople for the Estonian government said.

The new law will also make submitting the email address of the company’s owner to the Central Commercial Register compulsory. Currently about 7 percent, or nearly 14,000 business-owners, have not submitted their email addresses to the centralized register.

Estonia is the first country in the world to provide e-residency, which it launched on Dec. 2, 2014. E-residency is a state-issued secure digital identity for non-residents that allows people living abroad to operate in Estonia’s e-environment and use e-services on par with Estonian residents.

Read more from ERR News

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