The ISO code of Estonia is EE according to ISO 3166 standard. The local name of the country is Eesti Vabariik. Tallinn is the capital city of Estonia. The official language of Estonia is Estonian. In the year 1917, Estonia emerged as a sovereign political entity. The largest city in Estonia is Tallinn.
Estonia is located in the UTC +02:00 time zone, which is also called Eastern European Time or EET. The internet country code top-level domain (ccTLD) for Estonia is .ee. Other domains assigned to Estonia are .eu. The International dialing code for Estonia is +372. People in Estonia drive on the right side of the road. Total land area of Estonia is 45 227 km2. Estonia is not a landlocked country.
Estonia is located in the northern part of Europe. Estonia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Estonia faces various issues including air polluted with sulfur dioxide from oil-shale burning power plants in northeast, however, the amount of pollutants emitted to the air have fallen steadily, the emissions of 2000 were 80% less than in 1980, the amount of unpurified wastewater discharged to water bodies in 2000 was one-20th the level of 1980, in connection with the start-up of new water purification plants, the pollution load of wastewater decreased, Estonia has more than 1,400 natural and manmade lakes, the smaller of which in agricultural areas need to be monitored, coastal seawater is polluted in certain locations.
Doing business in Estonia
We offer various corporate services in Estonia jurisdiction. These services can serve both, people coming from Estonia and foreigners. If you plan on doing business in Estonia you might be interested in contacting us.
To find out about starting your business in Estonia click on company formation in Estonia.
To find out how to open a bank account in Estonia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Estonia.
Choose preferred service below or continue reading to find out more about Estonia.
Demographics of Estonia
The total population of Estonia is 1 313 271 people. In Estonia, the population density is 29 people per square kilometer (75 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is divided according to a fractionalization scale which for Estonia is 0.5062. Estonia has 209 984 million foreign immigrants. The median age is approximately 41.2 years. In Estonia, 79 in every 100 people use internet. Estonia has a Human Development Index (HDI) of 0.84.
The main religion of Estonia is Christianity. Estonia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Estonia.
Culture of Estonia
People in Estonia speak Estonian language. According to data on inbound tourists in Estonia, 2 868 000 tourists arrive in the country each year. The first McDonalds in Estonia was opened on 29 April 1995 One of the most popular national dishes of Estonia is verivorst with mulgikapsad. To read more click on culture of Estonia.
Geography of Estonia
Estonia is considered a mid-sized nation because of its total area. Its total land area is 45 227 km2 (approx. 17,462 mi2). Estonia is located in the northern part of Europe. Its capital city is Tallinn. Estonia has 2 neighbouring countries. Its neighbours include Latvia, Russia. Total length of land borders of Estonia is 633,00 kilometers (~393 miles).
The highest point of Estonia is Suur Munamägi with its official height being 318 m (1043 ft). Including land mass and EEZ, the total area of Estonia is approximately 82 219 km2 (~31,745 mi2). The most notable natural resources found in Estonia are oil shale, peat, rare earth elements, phosphorite, clay, limestone, sand, dolomite, arable land, sea mud. To read more click on geography of Estonia.
Economy of Estonia
The currency of the country is European euro. The symbol used for this currency is €, and it is abbreviated as EUR. 6% of population in the country are unemployed. The total number of unemployed people in Estonia is 74 856. Each year, Estonia exports around $15.11 billion and imports roughly $16.38 billion. The Gini Index of the country is 32.9. Estonia has a Human Development Index (HDI) of 0.84. The Global Peace Index (GPI) for Estonia is 1.677. Estonia has a government debt of 6% of the country's Gross Domestic Product (GDP), as assessed in 2013. Estonia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are engineering, electronics, wood and wood products, textiles, information technology, telecommunications.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Estonia is $ 36 784 billion. Each year, consumers spend around $9995,00 million. The ratio of consumer spending to GDP in Estonia is 52%, and the ratio of consumer spending to the world consumer market is 0%. The corporate tax in Estonia is set at 20%. Personal income tax ranges from 20% to 0%, depending on your specific situation and income level. To read more click on economy of Estonia.
Infrastructure of Estonia
Infrastructure quality in Estonia is rated to be at 3.34. In Estonia, 100% of the population has access to electricity. There are 865 494 internet hosts in Estonia. Estonia has 18,00 airports nationwide. The logistics performance index of Estonia is 3.35. Tracking possibilities for shipments are rated at 3.2. To read more click on infrastructure of Estonia.
Politics of Estonia
Estonia is a parliamentary republic. With regard to political and civil freedoms, Estonia is 1. The head of the government is Toomas Hendrik Ilves.
According to the World Bank Group, the government effectiveness index of Estonia is 1.05. In Estonia, the legislative power is vested in a riigikogu. The Global Peace Index (GPI) for Estonia is 1.677. The strength of legal rights index for Estonia is 7. Estonia is a member of the United Nations (UN). On 17 September 1991, it joined the UN as a full member state. Estonia is a member of the European Union (EU). On 1 May 2004, it joined the EU as a full member state. Estonia is a member of the World Bank. To read more click on politics of Estonia.
Environment of Estonia
Estonia emits 14 metric tons per capita of CO2. 23 066 km2 of Estonia's territory is covered in forests, and forest land comprises 61% of all the land in the country. To read more click on environment of Estonia.
Company formation in Estonia
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Estonia.
When establishing a company in Estonia, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Estonia that will affect the establishment and growth of one's business. Contact us or click on company formation in Estonia to read additional information when setting up a business.
Bank account opening in Estonia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Estonia. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Estonia, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Estonia or contact us.