When you register your company, you will need to declare the main field of activity for your business.
You can operate in more than one field under the same company, but, at registration, only the main planned field of activity is to be selected.
Annually, you will confirm your main field of activity (or declare additional fields of activity) when you submit your company's annual report or file corporate taxes in Estonia (if applicable).
How to choose your main field of activity
A good way to determine your main field of activity is to consider your business goal. If you have more than one activity, choose the one you think will generate the most value within the first fiscal year. You can search for the appropriate field of activity in the Estonian Classification of Economic Activities (EMTAK) tool. If you are working with a service provider, they can also advise.
EMTAK is a national version of the international NACE classification system that enables comparing economic statistics internationally. Fields of activity are classified similarly across the European Union. EMTAK has a hierarchical structure divided into five levels. A top-down method is used when determining a field of activity - starting from the highest level and moving on to the lowest one. Once you have selected the most general category for your business activities, continue until you reach the lowest level and choose a code that specifically corresponds to your business activities and has five digits in it. To have a better understanding what is included in a particular code, please pay attention to the descriptions and other fields, such as “Also includes” and “Special requirements”. You can also explore “Connected classifications” to find the best fit for your business.
When submitting your company's annual report, you will need to break down your company’s revenue by field of activity. The field that generated the biggest share of revenue will be marked in the Commercial Registry as your main field of activity. Other sources of revenue will be marked as additional fields of activity.
Fields of activities subject to special requirements
When choosing your main field of activity, you should keep in mind that some of them are more regulated than others. If the area of activity of your Estonian company is subject to special requirements, you will need to obtain a necessary licence or submit a respective notice of economic activity after the company registration, but before you start any business activities in that field. List of licensed activities can be found on the website of the Ministry of Economic Affairs. You can also read our article on this subject or check out the State Portal for more information.
If your company's operation are outside of Estonia, you should also seek advice concerning the need for a license in respective jurisdictions.