Estonia


Estonia at a glance

Head of state: President

Government: Parliamentary Republic, single chamber Parliament (Riigikogu) of 101 members

Currency: Euro

Memberships: EU, NATO, OECD, Schengen area

National day: 24th of February, Independence Day

Area: 45,227 square km neighboring Finland, Sweden, Latvia and Russia

Population: 1.3 million. Estonia is among the least densely populated countries in the world.

Capital: Tallinn. 400,000 inhabitants

Other major cities: Tartu (100,000), Narva (66,700), Kohtla-Järve (45,400), Pärnu (44,100)

Administrative division: Estonia is divided into 15 counties, 194 rural municipalities and 33 towns

Language: Estonian. Other languages such as English, Russian and Finnish are also widely spoken.

Main religion: Lutheran

Major natural resources: Timber, oil shale, phosphorite, peat, limestone, dolomite

Time zone: GMT + 2 hours

Distances from Tallinn: Helsinki 85 km, Riga 307 km, St Petersburg 395 km, Stockholm 405 km, Vilnius 605 km

Flight times: Helsinki 35 min, Stockholm 1 h, Copenhagen 1 h 30 min, Moscow 1 h 40 min, Amsterdam 2 h 20 min, London 2 h 45 min

Climate: Estonian climate is humid and temperate. 50% of Estonian land is covered by forests.

 

Business environment

Estonia can offer a progressive business environment with an efficient and compatible infrastructure. Our e-services, mobile communications and internet applications are among the most progressive in the world. Estonians are adaptable towards new technologies, and use them willingly.

The attractiveness of Estonia is demonstrated by the large number of foreign investors doing business here and the dominance of world-renowned foreign companies in several of Estonia’s economic sectors. Foreign impact is also revident from the fact that exports represents more than 100% of Estonian GDP.

In Estonia, foreign investors are treated the same as domestic ones, and European Union subsidies, for instance, are equally available for both foreign and domestic companies.

Estonia’s advantageous and user-friendly business environment has attracted a great number of foreign investors and large companies of international renown to the country – Ericsson, ABB, Kuehne + Nagel, Stora Enso, Symantec, Stoneridge, Vopak EOS, Deutsche Post DHL and many others. The fact that Estonian banks are mostly owned by well-known Nordic banks, such as Swedbank and SEB, also speaks in favour of the reliability of Estonia’s business environment.

 

Facts about Estonia

Business environment

  • Estonia is situated on a busy trading route between East and West and has always had excellent ports.
  • Companies registered in Estonian do not have to pay income tax for re-invested profits.
  • More than 65% of Estonian work force is working in the service sector.
  • Estonian banking sector is very IT-related, quick and flexible.
  • All Estonian towns and villages are covered by the network of public Internet access points.
  • In 2014, the percentage of electronic tax declarations was 95.
  • It is possible to affix a digital signature that is legally equal to a normal signature by the aid of an ID-card.
  • All environments offering e-services have a possibility to access by the aid of ID-card.
  • It takes only 15 minutes to establish a company in the Internet in Estonia.
  • Estonia is the state where m-parking system was commissioned first in the world.
  • SKYPE has been developed in Estonia.
  • 99% of banking transactions in Estonia are effected electronically.
  • Estonia is a member of the WTO, European Union, OECD and NATO.
  • Foreign and domestic investments in Estonia are treated equally under the law.

Nature and culture

  • The length of the longest day in summer is over 19 hours, while the shortest winter day lasts only six hours.
  • Bogs and wooded swamplands of different types cover over one fifth of the country - a world index topped only by the northern neighbor, Finland.
  • Estonia is at the same latitude in Europe as central Sweden and the northern tip of Scotland.
  • Temperatures in Estonia may fluctuate by 20°C; in the early morning the thermometer might read -12°C and by afternoon it may already be 10°C.
  • About 10% of Estonia is a nature reserve.
  • Estonian language belongs to the Finno-Ugric language family, which also includes Finnish and Hungarian.
  • Ernest Hemingway has written that in every port in the world, at least one Estonian can be found. (This speaks volumes about the nation's enterprising spirit.)
  • Peat is one of the most important natural resources in Estonia, and, moreover, is renewable.
  • Despite its small population there are about one hundred different nationalities and ethnic groups represented in Estonia.
  • Estonian Song Festival has been held every five years for the past 130 years.
  • Estonia is one of the most sparsely populated countries in Europe.
  • Estonia has the highest number of meteorite craters per land area in the world.
  • Estonians have one of the biggest collections of folk songs in the world, with written records of 133,000 folk songs.

 

More information: http://www.investinestonia.com/en/