New regulation for contact person

New redaction of Commerce Code of Estonia gets into force starting from 15.01.2018. Some changes are made in respect of a contact person of Estonian company.

As it is now stipulated by the Commercial Code, if management body of estonian company is located outside of Estonia or EU – a contact person from Estonian residents shall be apointed. Contact person may not represent a company or participate in its activities and shall not be responcible for any obligations of this company.

The point of contact person is to be an alternative option for receiving correspondence on behalf of the company. Thus letter received by contact person shall be considered as received by the company itself. And the address of the contact person shall be considered as a post-address of the company.

In old redaction any person resident of Estonia could have been apointed as a contact person. Now the law determines that only certain subjects may be apointed.

They are:

• notaries,
• auditors (auditor offices),
• attorneys (attorney offices),
• shareholders,
• prokurists,
• person with a license.

In our activity we put a law company Accretio (license nr FIU000279) as a contact person.