Amendments to the Money Laundering and Terrorist Financing Prevention Act (MLTFPA) enter into force on March 10, 2020. The changes primarily concern cryptocurrency service providers. The amendments make tougher the requirements for cryptocurrency service providers, they have to bring their activities in line with the new requirements by July 1, 2020; increase the state duty and strengthen the position of the Estonian Financial Intelligence Unit (FIU).
On September 14, 2019, a new EU Directive entered into force. This is a completely new approach to the regulation of payment institutions in Europe. Read more
According to research conducted by the Tax Foundation (ITCI), in 2018 Estonia has again topped the International Tax Index competitiveness. Read more
In November 2018, the Central Bank of Cyprus issued a new guide to shell companies (“mailbox companies”). The new manual contains an updated and expanded definition of this term. Read more
The ultimate owner of an Estonian company is an individual who owns directly or indirectly more than 25% of the Estonian company’s share and is under its control. Read more
According to the new amendments in Corporate Law of Estonia, the Contact person shall be appointed if the company established in Estonia does not have any Member of the Management Board residing in Estonia.
Starting from 27 November 2017 the Money Laundering and Terrorist Financing Prevention Act has been amended by extending the personal responsibility of Estonian companies in case of poor due diligence measures regarding all the Partners and Clients of the company.
Minister of Finance of Estonia Sven Sester has signed the decree that will simplify the procedure of opening an account in the local banks.
There are not essential amendments for tax legislation of Estonian have done.
What is the “Mini One-Stop Shop”, or MOSS?