It is a common misconception among e-residents that if you never started business activity here, this somehow exempts you from any reporting or bookkeeping hassle. I am afraid that is not true. Once you establish a company, you must take care of the reporting and compliance. Most entrepreneurs hire a service provider to handle all this. If you plan to close a company in Estonia, your company’s accounting has to be up-to-date. You need to have all tax reports and annual reports submitted. You may find it unfair, but yes – you must submit an annual report even if you do not have a bank account! And even if you have not made any sales transactions yet.

What kind of reports do you need?

To start closing your company, we ask you to send us the financial reports for the current year. It is the balance sheet, income statement, and bank account statement. Your accountant or service provider can provide you with these. But what if you did not have a professional accountant because your business here never kicked off? Do you know your current situation? We can help you to sort it out!

And it’s okay if you have fallen a little behind on your bookkeeping and reporting tasks. In most cases, we can help you to catch up. If you have collected your receipts and documents or can recover them, all can be fixed retrospectively. Yes, even if you have already closed your bank account and didn’t download the transaction history. You can still request the relevant statements from customer support – banks archive those. It usually requires a little effort in sorting through your mailbox and probably a good cup of coffee. Or two. Don’t worry! We will assist you on the way

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Why choose us?

If you have had no business activity starting from the establishment of the company, then we will submit the annual report(s) on your behalf. We will provide this as part of the liquidation assistance service. So it is for free! And if you have only had some expenses we will not charge extra either. Most of the companies that never kicked off have only had payments to their service provider and maybe bank fees. We can handle them with ease and will not charge you for that. And if you had some business activity, and need to catch up with the accounting tasks, don’t hesitate to reach out. I am sure we can come to an agreement!

 

The offer

If you need to update your accounting to start the liquidation proceedings, this is our offer:

• no sales transactions, some recurring expenses, and no annual reports have been submitted – FREE of charge.
• sales transactions and payments to be recorded, tax reports, and/or annual reports to be submitted – starting from 50 EUR depending on the volumes.

 

If you have questions about anything, reach out via your preferred method of contact or request a free consultation.