A notice of economic activity or business license application may be required for your firm. Before starting your Estonian company, you’ll need the right permits or notes.
Licenses and business activities are summarized by the Estonian State Office on Business Licensing. EMTAK Search can tell you if your planned job requires a business license or economic activity notice. After finding your field, press the right arrow to expand the Details portion.
In Estonia, there are a number of businesses that require licenses, among them:
- Tourist businesses, such as trip companies and vacation bundle sellers
- Banking, as well as the provision of virtual money services such as coins
- Private institutions for further study or as a hobby
- Activities like construction, planning, proprietor oversight, site inspections, and professional evaluations all fall under the umbrella of “construction-related activities.
It’s important to note that these are just the licenses and notifications that are most pertinent to the e-Residency group; there are many others that are needed for other types of company operations.
Economic Activities
In order to legally conduct business as a bank, exchange, virtual currency service provider (including cryptocurrency exchanges), trust and company service provider, pawnshop, or precious metals buyer/wholesaler, you will need to submit an application for the appropriate activity license. The registration procedure for these types of businesses is regulated by the Estonian Financial Intelligence Unit (FIU).
For example, you will need to obtain a crypto license in Estonia in order to engage in crypto trading or open a crypto exchange in Estonia.
Providers of virtual currency services (VCSs) must also adhere to additional requirements such as being physically located in Estonia, using an Estonian payment or e-money institution, having a share capital of at least €13,000, and disclosing information about the type of financial service or VCS being provided in their application.
Even though it is not recognized as legal money in any nation, virtual currencies are increasingly being used as a means of exchange between buyers and sellers online. Cryptocurrencies and crypto coins are common synonyms for these. Remember that if you need help with obtaining a crypto license, you can turn to Fintech Harbor Consulting.
Estonian Financial Supervision Authority needs activity licenses from companies that operate in specific financial areas (FSA). Payment and electronic money institutions, insurance companies, investment firms, retirement or other investment funds, fund managers, credit agents, debtors, and credit institutions need authorizations.
Tourism
As a tour organizer, travel merchant, or business enabling the closing of contracts on linked travel arrangements, a travel venture deals with bundles and related travel arrangements for commercial or professional gain.
A number of details must be disclosed in the business activity notification.
Education
Specific teaching services require an educational or fitness license. General education, hobby schools, pre-schools, youth camps, and trade education facilities must be licensed.
Visit edu.ee and submit your details to the Ministry of Education and Research to apply for a license in the right educational field within the deadline. All required paperwork and verifications must be submitted when applying for an activity license.
Continuing education teachers in non-licensed groups can file a notice of economic activities instead of a license. State-sectoral, this notice grants the education leader special privileges and duties. State sector training and procurement are limited to Estonian Education Information System-registered training providers. They must also follow Adult Education Act rules