Estonia - Business & Investment - Temporary Residence Permit for Business in Estonia
The fields and, if necessary, the territory of activities, shall be determined in the residence permit for business.
The company or the sole proprietor is required to have a business plan which states the character and range of the business, number of staff, necessary qualification and know-how of the staff. An alien may be granted a residence permit for business if:
â¢ the alien has invested in Estonia a capital sum of 1,000,000 kroons under his/her control in the case of a company;
â¢ the alien has invested in Estonia a capital sum of 250,000 kroons under his/her control in the case of a sole proprietor.
â¢ The number of aliens immigrating to Estonia is limited. The annual immigration quota is the quota for aliens immigrating to Estonia which shall not exceed 0.1 per cent of the permanent population of Estonia annually. The immigration quota does not apply to you if you are:
â¢ a citizen of the European Union, Norway, Iceland, Switzerland, the United States of America or Japan;
â¢ an Estonian.
An alien is required to have legal income that ensures his or her subsistence in Estonia during the six months preceding the submission of the application. Lawfully earned remuneration for work, income received from lawful business activities or property, pensions, scholarships, support, benefits paid by a foreign state and the maintenance ensured by family members earning legal income are deemed to be legal income.
An alien has to have an insurance contract guaranteeing that any costs related to his or her medical treatment as a result of illness or injury during the period of validity of the residence permit applied for will be met. An alien who has been granted a residence permit for study is not covered by Estonian health insurance.
If an alien has no opportunity to conclude a conforming insurance contract before the residence permit is granted to him/her, then he/she must submit:
â¢ an assurance that he/she will conclude the required insurance contract no later than within two months after the settlement in the state on the basis of a residence permit, or
â¢ an insurance contract which shall cover the medical treatment expenses until the conclusion of a conforming insurance contract (e.g. travel insurance contract).
A residence permit for undertaking business in Estonia on the circumstances which form the basis for the issue of a residence permit may be granted for the maximum of 5 years. If an alien has been granted a residence permit for business he/she cannot work in Estonia under the subordination of any other person.