Accounting in Estonia

We offer professional accounting services to your Estonian company at reasonable prices. Our bookkeeping service packages start from 102 € a month. We have about 500 international accounting clients. Our accounting office shall draw your financial statement, VAT calculations, wage calculations, etc. Our accountant shall provide services to you in English language!

We provide professional and reliable accounting service and treat all customers with the same respect. The cornerstones of our accounting office are customer-based flexible service as well as long-term customer relationships with companies representing different fields of operation. Estonian bookkeeping from us and you can stop worrying! Cooperation with us gives you the possibility to focus on what you do best.

You are welcome to discuss the financial management services that best fit your company needs with us.

You can find some accounting example packages below. However, we always tailor the package to meet the needs of the customer.

Attn.: If your company does not have a VAT number or employees, monthly accounting is usually not required. Financial statement once a year is enough.

102

€ month

A-packages are suitable for companies with business operation in launching phase.
The package includes monthly handling of 15 entries.

136

€ month

B-packages are suitable for companies and experts with regular business operations and turnover.
Suitable for a company whose turnover in its first years of operation will be on average more than 5000-10000 € / month
The package includes monthly handling of 25 entries.

204 € month

C-packages are suitable with companies with wide operations.
This package is suitable for a company that is serious about operating in Estonia, conquering new markets for its products.
Suitable for a company with an estimated average turnover of € 10,000 / month.
The package includes monthly handling of 50 entries.

272

€ month

D-packages are suitable for demanding business practitioners wishing to focus on promoting own business operations and use services to be able to do that.
Suitable for a company with an estimated average turnover of € 20,000 / month.
The package includes monthly handling of 100 entries.

Meet our accountants

Katja Kaarna

Katja is a highly experienced accountant and has previously worked as an accountant in Hedman Partners. She has studied accounting at the Tallinn School of Economics. Katja speaks Russian, Estonian, English and a little bit French and Finnish.

Vivika A. Palu

Vivika has long experience as an accountant. She has been a Chief Accountant at CV Keskus for 10 years, where she made the entire Baltic consolidated financial statements for the parent company quoted on the London Stock Exchange. Prior to that, Vivika worked for 3 years as a bookkeeper at Leinonen Group.

During her long career, Vivika has worked with many internationally renowned auditing companies such as KPMG, Rödl & Partner and has also worked with many smaller auditing companies.

She has been involved in many bookkeeping training and studying at Euro University. Vivika speaks Estonian, Finnish, English and Russian.

Lüüli Hellamaa

Lüüli has long experience as an accountant. She has been 15 years chief accountant in SMEs, 8 years as a business controller at an international company. She has had many courses, including accounting, budgeting, and controlling courses. Lüüli also has high-quality tax expertise.

Anette Õuemets

Anette professionally handles small business accounting. She has previously worked as an accountant for a large real estate company. She graduated from Tallinn School of Economics as an accountant. Anette speaks Estonian and English.

Marika Jäädmaa

Marika has been an accountant since 1997. He has previously worked as a CFO in a large construction company operating in Finland. Marika speaks Estonian, Finnish, English and Russian.

Piret Laagriküll

Piret is a top class accounting professional. She has worked as the chief accountant of Kiilto Eesti OÜ and as the accountant of Veho AS. She has studied at Tallinn University of Technology. Piret has a sixth-level professional qualification in accounting. Piret speaks Estonian, Finnish, English and Russian.

According to the legislation in force in Estonia, in addition to the state and municipalities, all legal entities registered in Estonia under private or public law, self-employed persons and branches of a foreign company are accountable. Accounting obligation means that the management of the business unit is required to keep accounts in Estonia and financial reports. Accounting in Estonia is usually best done locally.

You can send us the supporting documents required for accounting either by letter to our Tallinn office or save them in digital form in the dropbox. Our accountants speak Estonian as their mother tongue, but they also speak excellent English.

You can always do business with Ryynänen Consulting OÜ in English so that accounting in Estonia is successful.

Käytämme kirjanpidossa Merit Aktiva -nimistä kirjanpito-ohjelmistoa, jonka avulla kirjanpito Viroon onnistuu ammattimaisesti.

Kuukausiraportit ja laskut voit myös itse ottaa omalla koneellasi suoraan kirjanpito-ohjelmasta.

HAVE A QUESTION?

FAQ

Here are answers to some frequently asked questions. Please contact us for more information.

How can I open a bank account for an Estonian company?

Over the years, Estonian banks have steadily tightened their account opening policies in line with EU and US anti-terrorism and anti-money laundering laws. Banks use the Know your customer (KYC) process, which allows the bank to decide whether or not to open an account. It is often advisable to seek a preliminary ruling from a bank regarding the opening of an account. When you provide the bank with sufficient and convincing starting information (business plan, CV / LinkedIn, Estonian partners, a letter of recommendation from your home bank), account opening is usually successful. Banks require that the company has a business in Estonia or that the business owner resides in Estonia.

When should an Estonian company be audited?

An audit is mandatory if your company (OÜ) meets at least the following conditions:

Terms, Audit, Audit review
Sales, over 4000000 €, over 1600000 €
Assets in the balance sheet, over 2000000 €,over 800000 €
The number of employees, 60 per, 24 per

An audit is mandatory if your company (OÜ) meets at least the following conditions:

Terms, Audit, Audit review
Sales, over 4000000 €, over 1600000 €
Assets in the balance sheet, over 2000000 €,over 800000 €
The number of employees, 60 per, 24 per

The limited liability company (AS) must be audited every year.

When should the financial statements of an Estonian company be prepared?

The previous year's financial statements must be submitted to the Estonian Trade Register on 30 June. (if the financial year is a calendar year). However, the company's first financial year may be a maximum of 18 months.

How do I get a VAT number for an Estonian company?

First of all, it should be taken into account that when setting up an Estonian company or buying a ready-made company, the company does not have a VAT number, ie the company is not subject to VAT. This means that the company invoices without VAT and VAT on purchase invoices cannot be deducted. The limit of VAT liability is 40,000 € / year.

In order to obtain a VAT number, the tax office must complete the application in person. The taxpayer will make a decision or ask additional questions within the next 5 days. When the owner of the company has a foreign background, the taxpayer asks additional questions with a 90% probability. When applying for a VAT number, it would be good for the company to show the right business in Estonia. The Estonian tax authorities have recently been strict in issuing VAT numbers.

In certain cases, an Estonian company must apply abroad for VAT.

Parent company - subsidiary structure

A subsidiary operating abroad pays 20% tax on its profit. Many countries and Estonia do not charge tax on dividends paid by a subsidiary to its parent company. A subsidiary operating in Estonia pays corporate income tax of 20% to Estonia when it distributes a dividend to a parent company. The parent company does not pay tax on dividends in it's home country. When an Estonian company buys a stake in a Finnish company, the Estonian company must pay 1.6% transfer tax on the transaction.

Package A

Package B

Package C

Package D