February Mailbag of Legislation

More lawmaking commentary today. Two interesting bills are up for a vote in the near future1) Establishing an LLC without cash.There are a bunch of different ways to do business as an individual in Estonia – from signing ad-hoc contracts with your customers (the way I do it with translation agencies), to registering as self-employed, to starting a limited liability company.Self-employed status gives you a bunch of benefits, such as a VAT number and the ability to write off business expenses, but also some inconveniences in terms of how you pay tax. Incorporating as an LLC is the best way to go, and the process is streamlined: you can do the entire thing online in half an hour. The big hurdle is that you need to have the starting capital, 40,000 EEK (~2500EUR). Up to half of it can be made up of material assets without additional paperwork, but you still need to have a pile of cash that will be tied up in the business. You can get the money out of the company’s account right after it’s estab ...