To carry out activities in the field of insurance it is necessary to obtain a license. It is beneficial for a number of reasons to do this in Estonia. First, the principle of investors equality is in force here. Each of them, regardless of a citizenship and place of residence, is available funding from EU sources. Shareholders and members of the board of the company being established may be citizens of Estonia or another country. Secondly, the country is known for the low level of bureaucratization of state processes. This facilitates the procedure for permits obtaining. Third, Estonia is one of the leaders in the level of electronic document management development. Remotely it is possible to carry out the company registration, filing documents for obtaining a license, tax returns and so on.
The insurance license in Estonia is issued to companies registered in accordance with national legislation. Most often these are limited liability companies (Osauhing, OU). The authorized fund of such companies is distributed among the participants. A certain share belongs to each. The company is liable within the value of the property. Individual liability of participants for obligations is not provided. There are no mandatory requirements for an audit performance. An exception is when two or more conditions are met:
The zero rate of value-added tax is applied to insurance activity.
Insurance business and the financial services provision are regulated in Estonia by an extensive legal and regulatory framework. Among the priority regulators are laws on insurance activities and countering money laundering. An insurance license can be obtained if the director / shareholders / members of the governing body:
For filing an application, the purpose of which is an insurance license in Estonia, you need to collect a package of documents. It includes:
In some cases, the list of papers can be expanded. The application is considered, as a rule, within a period from 2 to 6 months. The legislation provides for cases in which a license can be recalled (errors, deliberate misrepresentation of data when preparing a petition). The risk of violations and unintentional errors can be eliminated if experts are involved in the work.
The work with medical products is regulated by a number of legal acts. It is difficult to take into account all the nuances and requirements without proper theoretical and practical training. Better to trust professionals who will undertake not only complex legal issues but also a routine bureaucracy. The Prifinance' experts accompany customers from the moment of the jurisdiction selection and activity directions to the immediate receipt of permissions, reducing the risk of errors and legal violations to zero.