The following is possible to perform activity in the country:

  • to establish a joint-stock company;
  • to open a representative office;
  • to open a branch.

«Prifinance» will help to pass all preparatory stages and receive the required permissions.

Receiving of a Broker License in Estonia for a Joint-stock Company

At first, a joint-stock company should be established. It requires:

  • to appoint an auditor;
  • to prepare the constitute documentation;
  • to open an account in a bank;
  • to be notary registered;
  • to pay authorized capital — 25 000 euro;
  • to be registered in the Securities Center.

For a joint-stock company operation three members of board of directors and 1 member of board, who will represent the company are, as a minimum, necessary according to the legislation of Estonia. After a passage of all stages described above, it is possible to submit documents to the authorized instance.

To operate in Forex market the broker in Estonia prepares the following package of documents:

  • charter / notarial constituent documents;
  • information about shareholders, stockholding;
  • information about founders, members of board/council;
  • information on the companies in which the petitioning company participates by more than 20%;
  • information about auditors of internal control authorities;
  • balance, profit and loss statement, the annual report (for active company);
  • business development plan for the next three years;
  • document confirming an obligation to make payment to a pledge fund upon receipt of the license – single time, 1300 Euro;
  • and other documents (the specialist will define).

To receive a license, it is necessary to have an authorized capital in the sufficient amount:

  • operations with securities, including in the name of a customer/at the expense of a customer — 50 000 Euro;
  • emission and securities portfolio management — 125 000 Euro;
  • underwriting, storage, securities management, trading at own expense — 730 000 Euro.

If the joint-stock company is engaged in support of multilateral trading systems, investment consulting, it is enough to have basic capital.

The amount of the authorized capital is 2 000 USD.

The license assumes a payment of contributions to the fund of the Republic of Estonia. Payments are defined depending on directions of the activity and are carried out once in a quarter:

  • fulfillment of orders for securities purchase and sale , inclusive in the name of customer/at the expense of customer – 0.1 % ofthe transaction amount for the last decade of the previous quarter;
  • securities portfolio management— 0.075 % of securities and money funds market value, which are available at the joint-stock company at the last day of a working quarter;
  • storage of securities and securities management, as well as additional operations relating to that — 0.01% of a securities market value, which are available at the last day of a working quarter.

This sum includes the full complex of “Prifinance” experts services:

  • a support of joint-stock company establishment, inclusive notarization of documents for registration , appointment of the company’s auditor, assistance when bank account and stock account opening, preparation of documents for registration in the Securities Center;
  • license reception support, including registration of all necessary documents and submitting of application to Financial Inspection, communication with Financial Inspection during the license application consideration;
  • a legal address for the company;
  • state duties;
  • registration/transfer of powers of attorney;
  • legal and accounting counselling.


It takes more than 4 months to receive a license in Estonia:

  • 1 month for a joint-stock company foundation;
  • 1 month to collect the documents;
  • from 2 to 6 months for the application consideration by Financial Inspection.

An Acquisition of License for a Representative Office

A right to perform an activity in Estonia will be given to representative offices of the companies, which provide the following:

  • a certificate proving the license availability in the country where the head office functions;
  • an activity plan of the representative office;
  • a power of attorney issued by the head company;
  • a certificate or an extract on the head structural unit registration;
  • articles of association;
  • address of representative office.

Forex License in Estonia when Opening a Branch

A procedure of the license reception for a branch of an active company is similar to the one described above. However, the additional documents should be submitted:

  • name and address of a branch;
  • information about a head of the structural unit;
  • business plan for the branch.
  • if the parent company does not operate inside of EU, it is also required to receive: a permission to establish the branch – in Estonia it is issued by securities market supervisory authority;
  • confirmation of legal operation of the company;
  • certificate that the parent structure has the license;
  • financial report on the head company’s activity.

If you need to receive the license for operation on Forex market in Estonia, contact «Prifinance».

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