25.11.2021 Uncategorized

CUESTA’s head of M&A and managing partner Lada Riisna explains the latest amendments to the Estonian Commercial Code, which simplify cross-border business in the EU and bring regulation of the branch in line with the law of the EU

The article approaches amendments to the Commercial Code and the Accounting Act for brining local law in line with the Directive (EU) 2019/1151. Branch registration becomes easier and voluntary. The proposed changes will allow a foreign company to register a branch in the commercial register electronically by submitting an application in the enterprise portal of the e-commercial register. From now on the branch manager does not have to submit the foreign company’s annual report to a separate commercial register, as it is available to interested parties through the EU registrar. The liquidation of the branch becomes voluntary. A requirement that the liquidation proceedings of branch shall be conducted before the deletion from the business register repeals. For more read here.