Foundation of branch of foreign investment firm in Estonia
In order to found a branch in Estonia, an investment firm registered in a foreign state shall apply for a corresponding licence from the Financial Supervision Authority.
Upon applying for a licence, the following documents and information shall be submitted to the Financial Supervision Authority:
1. Name and address of the branch
2. Information on the manager of the branch in accordance with the provisions of the Commercial Code
3. Information on persons who own a qualifying holding in the investment firm
4. Information and documents provided for in the Commercial Code
5. Two last annual reports of the applicant
6. Business plan of the branch.
In addition, a foreign investment firm shall submit to the Financial Supervision Authority the following documents and information of the financial supervision authority of its home country:
1. Consent to found a branch in Estonia
2. Certificate that it has an activity licence in force in its home country and its activities are correct and in conformity with good practices
3. Information on the applicant’s financial condition, including the amount of net funds, capital adequacy, solvency and the investor protection scheme of the home country.
Information and documents in foreign language shall be legalised pursuant to the procedure provided for in the Consular Act and submitted together with their certified translation into Estonian.