Business Reforms in Estonia
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Starting a Business: Estonia made starting a business simpler by allowing minimum capital to be deposited at the time of company registration.
Enforcing Contracts: Estonia made enforcing contracts easier by lowering court fees.
Paying Taxes: In Estonia a municipal sales tax introduced in Tallinn made paying taxes costlier for firms, though a later parliamentary measure abolished local sales taxes effective January 1, 2012.
Dealing with Construction Permits: Estonia made dealing with construction permits more complex by increasing the time for obtaining design criteria from the municipality.
Getting Credit: Estonia improved access to credit by amending the Code of Enforcement Procedure and allowing out-of-court enforcement of collateral by secured creditors.
Paying Taxes: Estonia increased the unemployment insurance contribution rate.
Resolving Insolvency: Amendments to Estonia’s recent insolvency law increased the chances that viable businesses will survive insolvency by improving procedures and changing the qualification requirements for insolvency administrators.
Labor Market Regulation: Estonia eliminated the applicable priority rules for dismissals as well as the obligation to notify and obtain the approval of a third party in case of redundancy dismissals. It also removed restrictions on night work and reduced notice period and severance payment applicable in case of redundancy dismissals.
Registering Property: Estonia made registering property easier by computerizing property records at the land registry and thereby enabling notaries to carry out the process online.
Resolving Insolvency: Estonia enhanced its insolvency process by establishing a new reorganization procedure to enable financially distressed companies to restructure their debt and apply other means to restore financial health and profitability.
Starting a Business: Estonia made starting a business easier and less costly by introducing standard articles of association and a fixed fee schedule for company registration.