Understanding the Basics
If you own an Estonian company — whether through e-Residency or local registration — you are required to submit an annual report to the Estonian Business Register every year. This is a key part of staying compliant and maintaining your company’s good standing, even if you had no activity during the year.
For many first-time founders, the term “annual report” may sound complicated, but in Estonia, the process is relatively straightforward when you know what to expect.
What Is an Annual Report in Estonia?
An annual report is a set of financial statements summarizing your company’s activities, assets, liabilities, income, and expenses for the financial year. It provides a transparent picture of the company’s performance and ensures compliance with the Estonian Accounting Act.
Every Estonian company — regardless of size, income, or business activity — must file it. Even inactive (dormant) companies must submit a zero-activity report.
Who Needs to File
- Private Limited Companies (OÜ)
- Public Limited Companies (AS)
- Non-profits and foundations
- E-resident companies — even if you operate remotely and your business has no physical presence in Estonia.
There are no exemptions based on turnover or business size.
When Is the Deadline?
The deadline to submit the annual report is within 6 months after the end of your financial year.
For most Estonian companies, the financial year matches the calendar year, meaning your report must be submitted by June 30 of the following year.
Example:
- Your 2024 financial year ends on December 31, 2024
- You must file your report by June 30, 2025
Key Components of the Annual Report
The required content depends on your company’s size and structure, but in general, it includes:
- Management report – an overview of company activities, market performance, risks, and plans.
- Balance sheet – assets, liabilities, and equity.
- Income statement (P&L) – revenue, expenses, and profit or loss.
- Notes to the accounts – clarifications on accounting policies and specific figures.
- Auditor’s report – required only for larger companies exceeding certain thresholds.
Micro and small enterprises can file simplified reports using templates provided by the Estonian Business Register.
How to Submit the Annual Report
- Log in to the Estonian Business Register using your ID-card, Smart-ID, or e-Residency card.
- Prepare the report — either manually or with the help of your accountant.
- Digitally sign and submit the report.
If you use an accounting service provider, they can prepare and submit the report on your behalf — you only need to review and sign it.
Consequences of Late Submission
Failing to submit your annual report on time can lead to:
- Penalties or fines from the Estonian Tax and Customs Board
- Company deletion from the Business Register
- Difficulties opening or maintaining bank and fintech accounts
Timely submission is also crucial for maintaining credibility with clients, banks, and the Estonian authorities.
Tips for e-Residents and Foreign Founders
- Keep your bookkeeping updated monthly or quarterly — this makes annual reporting effortless.
- Store all invoices and expense documents digitally (Estonian law allows full digital storage).
- Use accounting software compatible with Estonian requirements (Xero, Merit Aktiva, or similar).
- Work with a licensed accountant familiar with e-resident businesses. Estonian accounting rules can differ from those in your home country.
Why Work with LKS Consult
At LKS Consult, we specialize in accounting and compliance for e-residents and international entrepreneurs.
Our team handles everything — from monthly bookkeeping and tax reporting to annual report preparation and submission.
We ensure your Estonian company stays 100% compliant while you focus on growing your business.
✅ Accurate and timely filing
✅ Transparent pricing
✅ Expert support in English
✅ Full remote service — no visit to Estonia required
Get Help with Your Annual Report
Don’t risk penalties or unnecessary stress.
Let LKS Consult prepare and submit your Estonian Annual Report professionally and on time.
👉 Contact us for a free consultation and keep your company in perfect standing with the Estonian Business Register.
