Estonia consistently ranks as a global leader in human capital and ease of doing business. An established hub for Northern Europe, Estonia is also a recognised world leader in IT activities including e-Government, Digital Identity, Cyber Security and Blockchain. Estonia has a strong track record in start-up commercialisation and has produced 4 unicorns.
The current population of Estonia is 1,304,771 based on the latest United Nations estimates, which equates to 0.02% of the total worlds population. According to OECD’s PISA results, Estonian basic education is the best in Europe and in the top 3 globally. Our pupils’ science, math and reading skills are outranked only by Singapore and Japan.
The Republic of Estonia is a parliamentary republic. The Head of State is the President, elected for five years. The Government of the Republic exercises executive power in Estonia.
In addition to the prime minister, there are 14 other ministers in the government. The national legislature is a unicameral Parliament of 101 members – it is called the Riigikogu and elected for a term of four years.
The Republic of Estonia is a full and committed member of the European Union, Eurozone, NATO, OECD and Schengen Area.
About 1.1 million people speak Estonian, one of the world’s smallest official national languages. It is used successfully in all areas of society. Estonians also speak a variety of other languages, English being the business language.
Export of Estonian products and services is over 77% of the countries GDP. The major exports are electrical machinery and equipment, wood and wood products, mineral products. Main export destinations are Sweden, Finland, and Latvia. According to the World Economic Forum, Estonia is the most entrepreneurial country in Europe.
Estonians understand technology: Skype revolutionized communication, TransferWise changed international money transfers, GrabCAD helps to build products faster and Starship robots reframe local delivery.
The currency is Euro €
For the fifth year in a row, Estonia has the best tax code in the OECD. Its top score is driven by four positive features of its tax code. First, it has a 20 percent tax rate on corporate income that is only applied to distributed profits. Second, it has a flat 20 percent tax on individual income that does not apply to personal dividend income. Third, its property tax applies only to the value of land, rather than to the value of real property or capital. Finally, it has a territorial tax system that exempts 100 percent of foreign profits earned by domestic corporations from domestic taxation, with few restrictions.