Depends on services and activities the company plans to provide, the share capital of the company must be a minimum of 50,000 euros, if the company provides the following services or activities:
1. reception and transmission of orders related to securities;
2. execution of orders related to securities in the name of or for the account of the client;
The company must have a minimum share capital in the amount of 125,000 euros, if the company provides the following services:
1. securities portfolio management;
2. organizing an offer or issue of securities;
3. safekeeping and administration of securities for a client and activities related thereto, including receipt of securities transfer and pledge orders and other orders related to the encumbrance of financial securities from clients and forwarding or execution thereof;
And the company must have a minimum share capital in the amount of 730,000 euros, if the firm:
1. dealing in securities on own account;
2. guarantee of securities or guarantee of the offer, issue or sale of securities;
If planned business activities of Estonian company will fall under one of the above services, then the company would need to apply for a financial license before start business activities.
The time frame for the preparation of all required documents take 2-3 months, in addition the Estonian Financial Inspection take six-month period to review all provided documents and yet the State authorities have rights to ask additional confirmation depends circumstances.
Our attorneys in Estonian office provide legal services and advices to Clients with receipt of the financial licenses.