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Blogs
Luiga Mody Hääl Borenius
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Denominating share capital in euros
[25.10.2010, 16:38] In a matter of weeks, the euro will become the official legal tender in Estonia. This means that from January 1, 2011 undertakings will also be required to keep their accounts in euros.
How to establish your own business as of January 1, 2011?
[08.10.2010, 16:59] BBN asked Heili Haabu, attorney at law of Luiga Mody Hääl Borenius, to explain what businessmen who plan to set up a new company from the start of next year need to keep in mind.
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Main news

More tourists staying in Estonia in Q1

According to Statistics Estonia, 488,000 tourists stayed in the accommodation establishments in the first quarter.COMMENTS (28)

Pajula steps down as chief macroanalyst

Hardo Pajula, one of Estonia’s most influential economic analysts who until recently was chief macroanalyst of SEB in Estonia, is leaving SEB, writes Äripäev.COMMENTS (5)

Wine business of Estonian investors turns sour

Estonian investors who have for ten years been developing wine business in Ukraine state wine company have suddenly found that Ukraine does not honor the contract they signed in 1999 and plans to keep all the profit it had earned, writes Äripäev.COMMENTS (4)

Household electronics retailer Dixons may expand into Estonia

One of Europe’s largest retailers of household electronics, Dixons, has set its eyes on Estonia and plans to open its store here, writes Äripäev.COMMENTS (2)

Estonia needs 2-3 times as many IT people

According to a study of the Development Fund, Estonia should have at least two to three times more IT specialists than at present, writes Äripäev.COMMENTS (7)

Bitter dispute affects Swedbank’s image

A customer of the leasing arm of Swedbank, the largest bank operating in Estonia, claims the documentation submitted to the court by the leasing company are forged, writes Äripäev.COMMENTS (8)

Estonian Air adds more flights

Estonian Air has switched to the summer traffic schedule and is announcing the following new routes.COMMENTS (3)

A personal paradise for taxpayer’s money

National road administration seems to have a habit of spending taxpayer money for the benefit of its prominent officials, writes Eesti Päevaleht daily.COMMENTS (6)

Foreign companies move their backoffices to Estonia

More and more foreign companies are discovering Estonia as a provider of shared services functions, writes Äripäev. COMMENTS (5)

Raasuke to advise minister

Minister of economy Juhan Parts has hired Erkki Raasuke, former finance director of the Swedbank Group, as his adviser.COMMENTS (1)

MP suspected in e-mail scandal claims innocence

National security police officials yesterday conducted a search at the home of lauri Laasi, another Centre Party MP, who has been declared a suspect in connection with the e-mails of Hannes Rumm, head of the European Commission in Estonia.

"English should be a state language"

Investment banker Joakim Helenius belives that Estonia should make English an official language.COMMENTS (109)

Top 10 M&A deals in the Baltics in 2011

Eurozone turbulence last year lowered expectations in the mergers and acquisitions (M&A) market and prompted forecasters to look more prudently into the future. Still, following the meagre recession years, 2011 was marked by growth in the number of M&A deals in the Baltics.COMMENTS (1)

Swedbank cuts Estonia’s growth forecast to 2.7%

Major regional banker Swedbank has cut its estimate for Estonia's 2012 GDP growth to 2.7 percent, down from the 3.3 percent it predicted last month.COMMENTS (1)

Does Estonian legislation hinder US investments?

Maivi Ots, managing partner of Law Office Eversheds Ots & Co, and Lauri Liivat, associate, write that the legislation in force in Estonia is discriminating US companies by prohibiting them to directly acquire shares of Estonian registered public limited companies.COMMENTS (7)

Tallinn bourse in hibernation

“Foreign investors have stopped buying local stocks, there is no market for stocks or bond and local pension funds play a marginal role. It’s like Central Africa,” says Sven Kunsing from the asset management arm of SEB.COMMENTS (14)

Icelandic businessmen help IKEA expand to Estonia

Icelandic businessmen who are bringing world-famous IKEA department store in Lithuania have decided to expand the business also to Estonia and Latvia, writes Äripäev.COMMENTS (20)

A new wave of shopping malls

In spite of small market size and ongoing crisis in Europe, developers in Tallinn are racing to announce plans of new shopping malls, writes Äripäev.COMMENTS (20)

MP: state should not support exporting to Russia

Kalev Lillo, MP for Reform Party caused an uproar among businessmen last week when he said that the Estonian state should not support exporters who trade with Russia, writes Äripäev.COMMENTS (10)

Rain Lõhmus named Businessman of the Year

Äripäev has named Rain Lõhmus, the owner of LHV Bank, businessman of the year 2011.COMMENTS (4)

Sonny Aswani: Estonia to win from the crisis

Sonny Aswani, a businessman from Singapore who has been doing business in Estonia for 18 years said in an interview to Äripäev that Estonia is likely to win from the current eurozone crisis since it forces more Scandinavian businesses to transfer their jobs to Estonia.COMMENTS (11)

Neivelt: current model is breaking up

One of Estonia’s most respected businessmen, Indrek Neivelt said in his speech held in the Estonian parliament yesterday that the current crisis is endemic since the decision-makers have underestimated its gravity and made an effort to keep the system running at any cost.COMMENTS (5)

Latvians rush to withdraw cash from Swedbank

“Rumours made about Swedbank are false and absurd. All banking operations are functioning. We urge people not to fall victim to rumours and assess them critically,” said Swedbank in a tweeted statement made Sunday evening. COMMENTS (16)

SEB lowers its Baltic growth forecast from 3.7% to 2.5%

Second largest bank in Estonia, SEB, said yesterday that it has lowered annual economic growth forecast of Baltic economies for 2012 from 3.7% to 2.5%.COMMENTS (13)

Swen Uusjärv::Photo: : ÄP

Ex-finance minister teams up with failed developer

Ex-finance minister Mart Opmann shares an investment firm with an Estonian real estate businessman Swen Uusjärv in the company SwizzBankers that is looking for investors capable of investing between 30,000 and 250,000 euros for one to three years at an annual return of between 12 and 25%.COMMENTS (8)

Ain Kaljurand (left), Neinar Seli::Photo: : ÄP

Reform Party shows its muscle in battle with IRL

Both Port of Tallinn current management board members Ain Kaljurand and Allan Kiil managed to keep their jobs for the next period despite of rumors that junior coalition partner IRL was attempting to replace Kiil with one of its own, writes Äripäev.COMMENTS (2)

World Bank's Ardo Hansson elected next governor of Eesti Pank

Supervisory board of Estonian central bank Eesti Pank elected Ardo Hansson, a Harvard-educated economist at the World Bank, as a successor to current governor Andres Lipstok who is due to step down next summer.COMMENTS (6)

Tallinn plant of Elcoteq may be sold

Jan Kotka, CEO of Elcoteq Tallinn, said today that the bankruptcy of parent company Elcoteq SE may mean that the Tallinn assembly plant may be sold.COMMENTS (10)

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