Establishing a company in Estonia
Estonia is a small country of the Baltic in Northern Europe, situated along the Baltic Sea on its western border, with the Gulf of Finland to the north, Latvia to the south, and Russia to the southeasterly regions of the country. It also shares maritime borders with Sweden and Finland. In 1991, with the collapse of the USSR, Estonia gained its independence. The people are primarily Finnic in origin, the official language is Estonian, greatly similar to Finnish and somewhat similar to Hungarian. The local work force is considered educated and professional, and along with low local wage rates, this constitutes a significant advantage for foreign companies considering setting up business there.
The population of Estonia is only 1.3 million, making it one of the least inhabited European countries. The capital, and also the largest city, is Tallinn, with 430,000 residents. The government system is a democratic parliamentary republic, it is a full member state in the EU (from 2004) and of the euro zone, as well as a member of the OECD. Geographically, most of Estonia’s land includes low plains with much higher elevations along the northern and southern borders, and the state has a long coastline dotted with endless coves and limestone cliffs. Approximately half of the land is covered in natural forests.