Estonian Private Limited Company – the Minimum Nominal Value of a Share is Now One Cent Instead of One Euro
According to the changes made to Commercial Code of Estonia from the 1st of July 2020 the minimum nominal value of a share is one cent instead of one euro, with the result that every cent of the share capital shall grant the shareholder one vote.
Estonia Implements Remote Authentication – a Possibility to Carry out a Notarial Transaction from Home
On February 1st this year, remote authentication was introduced for notarial transactions, which is equivalent to ordinary notarial authentication, i.e. authentication in the presence of a notary.
About the Changes in the Estonian Commercial Code Related to the Notarization of the Transactions of Shares of the Private Limited Company
Related to the changes in the Commercial Code entered into force at the end of May the form requirement for the obligation transaction for the transfer and pledge of a share in private limited companies became invalid. As a result such contracts could be today concluded as if without a form and without a notary. Should the contracts be though still concluded as notarized and why?
Estonia – The Effects of the Coronavirus on the Adoption of Resolutions by Shareholders and the Formal Requirements for Non-Electronic Share Transfers
On 18 May 2020, the Estonian Parliament passed an act amending the General Part of the Civil Code Act and other acts. The main purpose of the amendment is to provide flexible options for resolving difficulties relating to the adoption of resolutions and the transfer of shares as a result of the coronavirus outbreak. The amending act now awaits proclamation by the President, and the amendments described below will take effect on the day following their publication in the State Gazette.
Malta – Annual Obligations Relating to the UBO Register
In terms of the Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843), which as from 10th January 2020 is in force in all the EU, member states are required to maintain inter-connected, publicly available national Ultimate Beneficial Owner (“UBO”) registries.
Time to take life-changing decision: LAST CALL for Malta Citizenship program – deadline for applications 31 July 2020!
GREAT NEWS: The Malta Individual Investor Program Agency will continue to accept applications under current MIIP regulations until 30 September 2020. It is therefore important for prospective investors to apply by 31 July 2020.
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