Personally, I love Estonia and have been there 27 times since 2003 and here are the main reasons why you also should consider taking the trip to Tallinn.
View from Oleviste. Photo by Tony Bowden
Estonia is one of the fastest growing economies in Europe over the last decade. Both sales and sourcing possibilities bring Norwegian companies here. There is a good access to EU markets, including 85 million inhabitants in the Baltic Sea Region. The business environment is competitive: highly educated workforce, advanced technologic environment, low taxes.
Nordic countries are the largest investors and trading partners for the Baltic region, Norway has made the fastest growth over the last years. Today, there are over 1000 companies with Norwegian capital and thousands of Norwegian companies with business partners in the Baltics.
Nordic countries are the largest investors and trading partners in the Baltic region, and Norway has made the fastest growth over the last years. Today, there are over 1000 companies with Norwegian capital and thousands of Norwegian companies with business partners in the Baltics.
Estonia is geographically and culturally close to Nordic countries. 75% of Norwegian businesses in the Baltics and Poland are satisfied/very happy with the results according to Deloitte study.
Europe is number 1 market for Norwegian green business globally, as this sector depends on public regulations. The Baltics have EU regulations in combination with extensive EU funding, which are the drivers for the development of the market.
IT cooperation has grown primarily with Estonia, who has focused Norway Grants on green IT – IT for energy, transport, and logistics, production and trade, e-health. These IT subsectors are critical for solving local challenges, as well have global growth potential according to a Ernst & Young study.
Today, Estonia is regarded as one of the most advanced e-governments in the world.
The use of technology and digital services is widespread in both the public and the private sector.
Estonia is the first country to offer e-Residency (a digital identity) to anyone interested in administering business online. e-Residents can digitally sign documents and contracts, verify the authenticity of signed documents, conduct e-banking and remote money transfers.
Estonia’s tax system is unique and the most competitive tax code in the OECD. First, it has a 20 percent tax rate on corporate income that is only applied to distributed profits. Second, it has a flat 20 percent tax on individual income that does not apply to personal dividend income. Third, its property tax applies only to the value of land rather than taxing the value of real estate or capital. Finally, it has a territorial tax system that exempts 100 percent of the foreign profits earned by domestic corporations from local taxation, with few restrictions. More at http://taxfoundation.org/article/2015-international-tax-competitiveness-index
Source: Entreprise Estonia and Innovation Norway.
Picture: Tony Bowden under the Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)
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