TALLINN - A bill drafted by the Justice Ministry would make it possible to establish a business in Estonia in a couple of hours using online registration.
The new rules would make it possible to delete recalled members of a company's management board from the Commercial Register in a couple of hours instead of several weeks, as is the case now, explained Viljar Peep, a ministry official.
"The bill will make day-to-day procedures significantly easier for entrepreneurs," he said.
Under the draft, uniform statutes of association would be used instead of notarized attested statutes of association, the ministry said. It will also be easier to obtain information about entrepreneurs from the Commercial Register, as the fields of business of a company will be relegated from the statutes of association into company accounts.
Initially the new procedure will be for first-time entries of private limited companies, private proprietors, general partnerships and limited partnerships, as well as amendments to the Commercial Register as regards private proprietors and companies.