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BBN - "Estonia has the best laws, very good banks, cheap bookkeeping services and less bureaucracy than, for instance, in Germany or Lithuania. But the most important thing is that Estonia does not tax profits," says Nerijus Strumila, board member of Lithuanian-owned Euroalliance that is registered in Estonia.
The Lithuanian family-owned business that is registered in Estonia sells scrap metal and trades goods abroad, mostly operating in Germany, US, Lithuania and elsewhere in the EU. It is also a textbook example of foreign businessmen whose markets are outside Estonia, but who decide to incorporate the company in Estonia for tax reasons, writes Äripäev.
Euroalliance was founded in 2005 and is 100% owned by Antaninan Strumiliene, mother of Nerijus Strumila. The company made a profit of 70 million kroons at sales of 160 million kroons in 2008 putting its owner on 218th place in the Äripäev list of Estonia's richest businessmen.
Another company that is incorporated in Estonia, but operates in 23 countries abroad, mainly in Poland, is oil trading firm E100 Baltia. "Estonia has created a very good legal framework for companies and has a good business environment," says the company's owner, Belarus businessman Denis Bokhan, who is Estonia's 77th richest businessman.
Read more: http://balticbusinessnews.com/article/2010/11/01/Estonia_s_taxation_system_attracts_fast_growing_companies
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