Estonia is a part of one of the fastest growing economic regions in Europe. It is located at the heart of the Baltic Sea Region – the Europe’s fastest growing market of more than 90 million people. This region is one of the most diverse and rewarding markets in Europe as it spans the well-developed economies of Scandinavia and Northern Germany, the rapidly expanding economies of the Baltic States and Poland, and the vast potential markets of Northwest Russia.
The Estonian economy is considered to be liberal and innovative. IT is one of the most popular areas of business and also “the thing” to study. The use of IT has infiltrated services as well as the industrial sector and has greatly changed the way things are done nowadays. The main trend is towards simplification, innovation and customer-friendliness.
The facts that companies do not have to pay income tax for re-invested profits and a company can be registered in just 18 minutes are considered to be an effective method for enhancing entrepreneurship and for the promotion of innovation and new business solutions. Income tax must be paid only on profits that are paid out to shareholders.