禾吉辰企業社

          Investment Guide of Estonia (in English, with latest informaiton of 2007) 1. Estonia at a Glance A. Government: Parliamentary Republic, single chamber Parliament (Riigikogu) of 101 members B. Currency: Eesti Kroon (EEK); 1 EUR = 15.6466 EEK C. Capital: Tallinn (402,000) D. Area: 45,227 square km E. Distance from Tallinn: Helsinki 85km, Riga 307 km, St Petersburg 395 km, Stockholm 405 km, Vilnius 605km F. Flights times: Helsinki 35 min, Stockholm 1 h, Copenhagen 1 h 30 min, Moskow 1 h 40 min, Amsterdam 2 h 20 min, London 2 h 45 min G. Time Zone: GMT + 2 h (time difference with Taiwan : summer 5 h; winter 6 h) H. Average Temperatures: -6 C (February), +17 C (July) I. Major Natural Resources: Timber, oil shale, phosphorite, peat, limestone and dolomite J. Population: 1.34 million K. Employed: 650 thousand L. Ethnic groups: Estonians 67.9%, Russians 25.6% and Ukrainians 2.1% M. Languages: Estonian. Other languages such as English, Russian and Finnish are also widely spoken N. GDP per capita: EUR 9,800 O. GDP growth: 11.4% Q. FDI stock: EUR 12.0 billion (31.12.2006) R. FDI into Estonia : EUR 結婚西裝 1.3 billion (in 2006) S. Exports: EUR 7.6 billion T. Imports: EUR 10.3 billion U. Inflation (CPI): 4.4% W. Unemployment rate: 5.9% X. Average monthly gross wages: EUR 600 2. Economy Estonia ’s economic success has been built on a stable currency, a liberal foreign trade regime, liberalization of prices, abolition of state subsidies, fast privatization and an effective bankruptcy legislation. As a result, Estonia has advanced fast in terms of stabilizing and restructuring the economy and has been rewarded with high levels of foreign direct investment. Estonia ’s successes of the past decade have cemented a solid foundation for an emerging Central European economic power. A. Advantage Its independent judiciary, limited government intervention and low tax rates make it an attractive investment. Estonia is classified as one of the countries with high FDI potential and performance. (Otherwise, Taiwan is classified as one of countries with high FDI but low FDI performance.) B. Economic Growth GDP growth of 11.4% in 2006 plac 好房網es Estonia among the fastest growing economies in the region. The economy is forecast to grow rapidly also in 2007, however, not reaching the record level of 2006. (The EU executive expects gross domestic product to grow 11.0 percent this year and 8.9 percent next year in Latvia, and respectively 7.8 and 7.0 percent in Lithuania. The euro zone's economy is expected to grow at 2.6 and 2.1 percent respectively in 2006 and 2007. In the EU, GDP growth is forecast to average 2.8 percent in 2006 and 2.4 percent in 2007.) C. Inflation Inflation reached 4.4% in 2006, up from 4.1% in 2005. The vibrant economy with a strong domestic demand in most sectors, together with the growing demand also on export markets exerted pressure upwards on consumer prices. Strong demand fro labour also pushed up wages by an average closed to 15%. The comparatively high inflation level has delayed Estonia’s introduction of the euro, and currently the euro is expected to be adopted around 2010-2011. D. The labour market of 2006 was characterized by a jump in labour demand. T 網路行銷he number of employed persons increased by a full 6.4% relative to 2005. The unemployment rate dropped to 5.9% compared to 7.9% in 2005. Especially the construction sector showed a strong increase in demand for labour in 2006. In 2007 the Ministry of Finance expects the demand for labour to continue to grow, however, due to the limited amount of additional labour available, the number of employed people will only increase by 1.4% this year. At the same time, the unemployment rate is expected to drop to 4.8%. The strongest demand is expected from the services sector, as well as construction. In the industrial sector however, structural changes and productivity increase will limit the demand for labour. In 2008 the Ministry of Finance expects the unemployment rate to continue falling to 4.3%. E. Main Economic Indicators 2005 2006 2007* 2008* 2009* GDP, billion EUR 11,1 13,1 15,0 17,1 19,2 GDP real growth, % 10,5 11,4 Employed persons (thousands) 607,4 646,3 655,1 660,3 660,5 Average salary (EUR) Current account, (% of GDP) -10,5 -13,9 -14,9 -1 房屋買賣4,2 -13,4 Consumer prices growth, (%) Unemployment rate (%) Govt budget surplus (% of GDP) · forecast Sources: Statistical Office, Ministry of Finance F. Index of Economic Freedom 2007 1) Hong Kong, 2) Singapore, 3) Australia, 4) United States, 5) New Zealand, 6) United Kingdom, 7) Ireland, 8) Luxembourg, 9) Switzerland, 10) Canada, 11) Chile, 12) Estonia, 13) Denmark, 16) Finland, 21) Sweden, 22) Lithuania, 26) Taiwan, 30) Norway, 36) South Korea, 41) Latvia 3. Taxes The Estonian tax system with its flat 22% rate individual taxation is one of the most liberal tax regimes in the world. Moreover, the new law on Income Tax provides that undistributed profits of the companies are not subject to income taxation, regardless whether invested or merely retained. Principal Taxes income tax: 22% value-added tax (VAT): 18% social tax (20% for social security and 13% for health insurance) unemployment insurance tax: 0.3 employer + 0.6% employee excise taxes (tobacco, alcoholic beverages, motor fuel, motor vehicles, packages) gambling tax land tax (between 0.1% and 2. 澎湖民宿5%) Estonia does no impose any gift, inheritance or estate taxes. Various transactions may be subject to payment of state fees (stamp duties). 4. Foreign Trade Proximity to the Nordic markets, location between Eastern and Western Europe, competitive cost structure and high-skill labour force have been the major Estonian comparative advantages since the 1990’s. As a member of the European Union, Estonia today obviously enjoys free trade with the Union, and full participation of external trade agreements signed by the Union. By countries Export Import Country of destination 2005 % 2006 % Country of origin 2005 % 2006 % 1. Finland 26.2 18.5 1. Finland 19.7 18.3 2. Sweden 13.1 12.0 2. Russia 13.4 3. Latvia 3. Germany 14.0 12.4 4. Russia 4. Sweden 5. USA 5. Lithuania 6. Germany 6. Latvia 7. Lithuania 7. Poland 8. Gibraltar 8. Netherlands 9. China 9. Italy 10. Norway 10. Denmark Source: Statistical Office of Estonia (http://www.stat.ee) By commodity groups In 2006 the export commodity grous were machinery and appliances 23.9%, mineral products 16.2% and wood and arti 辦公室出租cles of wood with a 9.3% share of total exports. Compared to 2005 there was an increase mainly in the exports of mineral products +164% (attributable to Estonia’s role as a transit country of Russian oil products), pulp and paper products +45% (dues to the opining of a new Estonian pulp plant), and plastics and plastic products +29%. The main Estonia’s import articles in 2006 were machinery and appliances 25.6%, mineral products 14.9% and transport equipment 12.2% Compared to 2005 the largest increase occurred in the imports of mineral fuels (+104%), transport equipment (+49%) and plastics and plastic products (+26%). 5. Establishing a Company The most popular type of legal entity being set up by foreigners in Estonia is the so called “Osauhing, OU”, or Private Limited Company. First the founder(s) of a Private Limited Company should consider whether to buy a pre-registered company, or registering a new one. Pre-registered companies are sold by numerous accounting- and law firms, and is often the fastest way to have one’s company registered. However, in addition to the stamp taxes, a fee will obviously be c 室內設計harged by the intermediary (generally EUR 500-1000). If registering a new Private Limited company, first the share capital (minimum EEK 40 000) must be paid in to a designated bank account. If non-monetary contributions are made, special rules apply. Then, the following documentation will have to be prepared in Estonian and notarised: - Memorandum of Association, setting out, among other things, business name, address, area of activity, names and residences of the founders, the amount of share capital, the nominal value of the shares and their division among the founders and the members of the management board. - Articles of Association, setting out, among other things, name, address, business activity, share capital, procedure for payment of shares, reserve capital, other terms and conditions for the company The founders sign the documentation. If a founder is a foreign company, the power of attorney given to its representative must also have been notarised. The notarised documentation is then submitted to the Commercial Register NEW 2007: Registration with expedited procedure 6. Visas, Work and Residence Permits Document requi 酒店打工rements when applying for visa: 1. A valid travel document - it must contain at least two blank pages for visas and be valid for at least 3 months after the end of the validity of the visa 2. A completed visa application 3. A coloured photograph (sized 40 x 50 mm; It should be possible to ascertain the identity of the person) 4. A health insurance policy valid in Estonia (with a coverage of at least 160 000 EEK for the entire duration of the stay in Estonia) 5. Documents confirming the purpose and cause of the visit (visa invitation or letter of invitation from an international organisation, a voucher from a registered tourist/travel agency, a document entitling entry to the country of arrival, a document proving employment in Estonia, transport tickets, or other similar documents) 6. While staying in Estonia, visa visitors must prove that they have adequate financial means equal to one fifth of the minimum monthly wage - currently 600 EEK (38 €) (the minimum monthly wage is 3000 EEK (192 €) as determined by the Government of Estonia as of 1 January 2006) - for every day that they plan to stay in Estonia. 7. Documents confirming 西裝 that accommodation and other expenses will be covered when staying in Estonia 8. A receipt proving the payment of state fees. Temporary residence permit for employment (for third country nationals) A residence permit for employment is issued for a period of guaranteed employment in Estonia by an employer with a period of validity of up to two years and it can be extended for up to five years at a time.An alien can be granted a residence permit for employment if an open competition has been carried out to staff the post and if, within two months, it has not been possible to recruit anybody through the state employment mediation service. An alien must have the qualifications, education, health, work experience, special skills and knowledge required for the job. The Labour Market Board has to give its consent before an alien can be employed.Aliens who come to Estonia to make direct foreign investments and those who come to Estonia to establish the branch of a foreign company in Estonia do not need the consent of the Labour Market Board. .msgcontent .wsharing ul li { text-indent: 0; } 分享 Facebook Plurk YAHOO! 小型辦公室  .